BEIJING, May 13, 2013 (GLOBE NEWSWIRE) -- eFuture Information Technology Inc. (Nasdaq:EFUT) (the "Company" or "eFuture"), a leading provider of software and services in China's rapidly growing retail and consumer goods industries, today announced that it has signed an agreement with Guofang Group ("Guofang") to provide its customer relationship management ("CRM") services.
Established in 1996, Guofang is a major department store and supermarket retail operator in northwestern China. Its fifteen subsidiaries are spread across the region, and are located in provinces such as Gansu, Ningxia, Qinghai and Shaanxi. In order to enhance efficiency and meet higher industry standards for customer service, Guofang has selected eFuture to upgrade the CRM system for its department stores. This agreement marks the second business cooperation between the two companies. In 2006, eFuture provided Guofang with a POS-ERP system for its supermarkets.
Under the program, eFuture will assist Guofang in improving interactions with current and future customers through data mining and data analysis, identifying and seeking to retain the most profitable customers, and expanding the potential customer base in the process. System installation and data migration for the CRM program began in early April this year, and the first and second phases of analysis results are expected to come online on the second half of this year.
Commenting on the agreement, a member of the senior management team of Guofang said, "We believe that our cooperation with eFuture to establish one of the best CRM systems in Northwest China will elevate customer relationship management in Lanzhou City to another level, and this will extend our superior capabilities throughout the whole northwest region."
Mr. Adam Yan, Chairman and Chief Executive Officer of eFuture, said, "We are thrilled to be provided the opportunity to partner with Guofang again, and we would like to express our gratitude for its recognition of our services and expertise. Guofang's decision to collaborate with us a second time is a testament to the past seven years of eFuture's growth and transformation. As a result of the focus we have put into developing business in tier two and three cities, our efforts are being recognized in many ways. This win is a major step for eFuture to solidify its position in tier two and three cities as we continue to evaluate these new markets as we execute our expansion."
"In addition to eFuture's own development, we are also honored to take part and support the growth of these cities as they evolve. Enterprises are becoming more aware of their technological needs and are seeking our consultation and strategic input for their systems design, with the goal to improve their business efficiencies. We remain committed to remain innovative and offer solutions to our customers to keep them ahead of the curve and responding to the ever-changing needs of their businesses," Mr. Yan added.
ABOUT EFUTURE INFORMATION TECHNOLOGY INC.
eFuture Information Technology Inc. (Nasdaq:EFUT) is a leading provider of software and services in China's rapidly growing retail and consumer goods industries. eFuture provides integrated software and services to manufacturers, distributors, wholesalers, logistics companies and retailers in China's front-end supply chain (from factory to consumer) market, especially in the retail and fast moving consumer goods industries. For more information about eFuture, please visit http://www.e-future.com.cn.
SAFE HARBOR
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. eFuture may also make written or oral forward-looking statements in periodic reports to the Securities and Exchange Commission (the "SEC"), in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to second parties. Statements that are not historical facts, including statements about the Company's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: eFuture's anticipated growth strategies; eFuture's future business development, results of operations and financial condition; expected changes in the Company's revenue and certain cost or expense items; eFuture's ability to attract clients and leverage its brand; trends and competition in the software industry; the Company's ability to control expenses and maintain profit margins; the Company's ability to hire, train and retain qualified managerial and other employees; the Company's ability to develop new software and pilot new business models at desirable locations in a timely and cost-effective manner; the performance of third parties under contracts with the Company; the expected growth of the Chinese economy software market in retail and consumer goods industries; and Chinese governmental policies relating to private managers and operators of software and applicable tax rates.
Further information regarding these and other risks will be included in eFuture's annual report on Form 20-F and other documents filed with the SEC. All information provided in this press release and in the attachments is as of August 13, 2012, and the Company undertakes no duty to update such information or any other forward-looking information, except as required under applicable law.