BEIJING, Jan. 26 /PRNewswire-Asia/ -- eFuture Information Technology Inc. (NASDAQ:EFUT) ("eFuture"), a leading provider of software and services in China's retail and consumer goods industries, announced its collaboration with IBM (NYSE:IBM) to launch a Software-as-a-Service ("SaaS") solution for the retail distribution industry in China. The two companies have successfully completed the deployment of the solution at select Beijing Wangfujing Department Store Group ("Wangfujing Group") stores in Beijing, one of the largest retail groups in China.

This initiative has brought 2,000 of Wangfujing Group's suppliers onto the platform, allowing them to exchange business information, arrange payments online and access purchase orders, returns, payment status, inventory levels and analysis of sales data. When the system is fully operational throughout the Group's stores in 17 cities across China by the end of 2009, the Group will be able to share the supply chain information real time with approximately 20,000 suppliers.

"The ability to manage an efficient supply chain is a prerequisite for success in the retail industry," said Mr. Changxin Liu, Director of IT Department/Assistant to the President, Wangfujing Group. "Wangfujing Group now serves 10 million customers per day, and we believe the new supply chain system can enhance our Group's leadership in the China retail market."

China's retail market has been experiencing exponential growth in the last 20 years, and is forecasted to reach US$1.4 trillion by 2010 to become the world's second largest market. However, practices inherited from years ago - such as manual procurement, manual verification, paper-based statements and months-long settlement cycles - can no longer meet the needs of the new era and the rapid evolution of the market.

In the new economy, retailers are challenged with the demands of managing inventories more closely, increasing supply chain efficiencies, increasing labor productivity and controlling costs. The new SaaS Solution addresses all of these needs, and provides an effective and scalable solution for retailers to manage change in a dynamic environment.

The IBM and eFuture SaaS Solution is delivered through the Web to the authorized suppliers of the retail businesses. With just an Internet-connected terminal, an authorized supplier can log onto the system with designated username and password to handle all their business transactions from order processing to settlement, and monitor the transactions. Meanwhile, retailers can also monitor the entire process including orders, delivery, inventory and payment real time and in a completely transparent and automated manner.

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