IRVING, TX--(MARKET WIRE)--Dec 9, 2008 -- JC Data Solutions (Other OTC:JCDS.PK - News) and Neofirma, Inc. have finalized an agreement to jointly offer JC Data's payment management services integrated with Neofirma's online energy asset management service for the Oil & Gas Industry. Not only will these services increase efficiency in disbursements and data management for the Oil & Gas Industry but will also increase sales and client base for both JCDS and Neofirma.
Both companies will now offer a single, integrated online service for energy companies managing monthly payments to royalty and working interest holders.
The PAYMENT MANAGER (formerly the ACH Generator) is a service designed by JCDS for the Oil & Gas Industry which ties the energy company's existing accounting system to payee information to easily distribute payments, post payee statements online, do email notifications, print checks or statements and provide archival and retrieval of these statements. This program will be linked through the Neofirma service, which manages administration and communications with payment stakeholders.
"We approached existing JC Data and Neofirma clients concerning a payment facility that combined the strengths of both services. Several of both companies' existing clients have already signed up for the combined service. With this agreement we are moving forward to deploy the combined Payment Manager service," said Cary Allen, CEO, JCDS.
Neofirma's energy asset management services empower energy companies with powerful databases and secure on-line reports that enable management to track land and lease obligations, supervise the exploration process, optimize daily operations and now, manage stakeholder payments.
"Our market research revealed this to be an area that was underserved within the Oil & Gas Industry. Where service was provided, it was geared to the extremely large organizations and overpriced for almost all firms except the extremely large. Combining our two companies' industry-specific solutions into a single integrated offering allows us to provide an immediate cost-effective solution to an expensive and growing problem that the Oil & Gas Industry faces," said Jim Holder, CEO, Neofirma, Inc.
Neofirma and JC Data Solutions expect rapid growth of new clients of the combined payment management facility.
Forward-Looking Statements
This press release contains "forward-looking statements," within the meaning of the Private Securities Litigation Reform Act of 1995. Statements in this release that are "forward-looking statements" are based on current expectations and assumptions that are subject to known and unknown risks, uncertainties or other factors which may cause actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Actual results could differ materially because of factors such as: the effect of general economic and market conditions, entry into markets with vigorous competition, market acceptance of new products and services, continued acceptance of existing products and services, technological shifts, and delays in product development and related product release schedules, any of which may cause revenues and income to fall short of anticipated levels.
All information in this release is as of the date of this release.
For Information go to our web site at http://www.jcdata.com or call:
Cary Allen
CEO
JC Data Solutions, Inc.
214-295-5810
Email Contact
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