BEIJING, April 30 /Xinhua-PRNewswire/ -- eFuture Information Technology Inc. (Nasdaq: EFUT) ("eFuture"), a leading front-end supply chain management software and service company in China and Beijing bFuture Information Technology Co., Ltd. ("bFuture"), one of China's leading Sales-as-a-Service ("SaaS") providers in the retail and consumer goods industry, today announced the launch of http://www.bfuture.com.cn , a jointly-designed

business-to-business ("B2B") SaaS website to connect retailers to their suppliers, enabling them to more efficiently and effectively share information and manage work processes. The company also announced that Beijing Wangfujing Department Store (Group) Co. Ltd. ("Wangfujing Group"), one of China's largest retail chains, has become the first client to adopt its bFuture online supply chain management platform.    

The Web platform will connect Wangfujing Group to its nearly 20,000 suppliers and streamline supply chain management operations by allowing them to exchange business information, arrange payment online and access purchase orders, returns, payment status, inventory levels and sales data analysis.    

"IT spending in China's retail industry is relatively low compared to developed markets, but the rapid emergence of consumers in China is driving the demand for more competitively priced and sophisticated supply chain tools," said Adam Yan, eFuture's chairman and chief executive officer. "Our bFuture SaaS model is the ideal solution for Chinese retailers and their suppliers looking to avoid expensive up-front costs while still enjoying the advantages of high-quality supply chain management solutions. We're able to increase the efficiency and competitiveness of our extensive network of leading retailers by offering them a platform to connect directly to their suppliers."   

In November 2007, eFuture acquired a 51 percent stake in Beijing bFuture Information Technology, Inc. bFuture's B2B supply chain management solution offers online supply chain visibility and control for retailers and suppliers, and provides increased sales productivity, improved warehouse management, simplified billing requisition, direct access to customer data, enhanced decision-making capabilities, product recommendations and market information and feedback.   

"SaaS is a scalable application delivery model that allows us to provide advanced supply chain management service at a fraction of the cost of traditional software licenses," said Peter Jiang, bFuture's chief executive officer. "With an Internet connection and a browser, our retail clients can connect to tens of thousands of suppliers to exchange and manage information, make orders and arrange payments. Suppliers benefit from the sharing of information, which helps them optimize their production and inventory management."

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