Designed for financial services industry; company appoints general manager of new business unit
Redwood City, CA — August 18, 2003 — Contract management software provider Nextance Inc. today announced the release of Nextance for Financial Services and the hiring of a general manager for its newly created Financial Services business unit.
According to the company, Nextance for Financial Services addresses the contract and document-centric processes of financial services firms, including sourcing and procurement, account management, and government compliance.
The solution is designed to use the NeXML platform to address certain business processes of financial services firms that have not yet been addressed by enterprise resource planning (ERP) and other legacy software systems.
The company also announced that Mike O'Hara, former senior vice president of Supply Chain at Bank of America, has joined Nextance to lead the Financial Services vertical. O'Hara's 15-year career with Bank of America includes nine-plus years in supply chain management.
During his tenure, O'Hara said he led many of the division's key initiatives and functions, including contract management, e-procurement and information delivery, and is a certified Six Sigma Greenbelt.
"I am excited to be a part of Nextance; we share a common vision of how the financial services industry can significantly evolve its business processes to reach the level of other industries already tapping into the power of efficient supply chains," said O'Hara.