HUNTINGTON BEACH, Calif., April 27, 2005 (PRIMEZONE) -- Quintek Technologies, Inc. (OTCBB:QTEK), a global provider of business process outsourcing (BPO) and best-of-breed technology consulting services, today announced the launch of its Supply Chain Management (SCM) consulting service line. SCM is a multi-billion-dollar industry that involves planning and execution of a businesses processes and technologies as they relate to sales, manufacturing and distribution.
Over the past 12 months Quintek has leveraged its proven skills and experience in business process optimization; developed significant industry partnerships; secured blue-chip customers and added long-term contracts valued at over $8 million. Now that Quintek has delivered on the first phase of its strategy, management believes the company has earned the right to proceed with the next stage of its growth plan.
"Interviews within our target market have reinforced our belief that Quintek's professional services strategy is aligned with that of our clients," stated Robert Steele, CEO of Quintek. "Core and common business processes continue to be outsourced while higher value-added business processes are retained in-house. Therefore, our approach is to provide services which help organizations maximize revenue and minimize costs not only within their four walls, but also to the extended end-to-end supply chain entities. We will execute our strategy by offering best business practice consulting services and utilizing leading edge technology enablers."
Quintek will significantly broaden its vertical industry service offering across the following areas of industry expertise: Aerospace and defense, automotive, communications, consumer products, forest and wood products, healthcare, high-technology, industrial manufacturing, life sciences and utilities.
Steele added, "A huge void currently exists in the supply chain services market space. Quintek, through its new subsidiary, is strategically positioned to capitalize on this opportunity."
ARC Advisory Group, a strategic planning and technology assessment firm, has estimated that the market for Supply Chain Management is projected to grow at a Compounded Annual Growth Rate (CAGR) of 7.4% over the next five years. The market reached $5.1 billion in 2003 and is forecasted to top $7.4 billion by 2008.
About Quintek Technologies, Inc.
Quintek Technologies, through its wholly owned subsidiary Quintek Services, Inc. (QSI), delivers 21st-century Business Process Outsourcing (BPO) services and solutions that enable organizations of any size to secure and manage their key data processing demands with optimal efficiency and minimal costs. As a next-generation technology company, Quintek is unhindered by outdated information technology systems, and thus is able to deploy best-of-breed solutions in all aspects of BPO computer applications and Information Lifecycle Management (ILM).
Quintek provides a range of mission-critical information and document-management solutions to organizations in document-intensive industries, including government, public utilities, healthcare, insurance, financial, legal, telecommunications and manufacturing. The Company has built steady growth on a strategy of providing superior services and solutions, and continues to exploit the steadily increasing growth in BPO and ILM marketplaces; the Aberdeen Group, a provider of IT market intelligence, forecasts 13% annual growth for the BPO industry through 2005, when the market is projected to reach $248 billion. For more information, visit http://www.quintek.com
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Safe Harbor Statement
This press release contains forward-looking information within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the ``Exchange Act''), including statements regarding potential sales, the success of the company's business, as well as statements that include the word ``believe'' or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Quintek to differ materially from those implied or expressed by such forward-looking statements. Such factors include, among others, the risk factors included in Quintek's Annual Report on Form 10-KSB for the fiscal year ended June 30, 2004 and any subsequent reports filed with the SEC under the Exchange Act. This press release speaks as of the date first set forth above and Quintek assumes no responsibility to update the information included herein for events occurring after the date hereof. Actual results could differ materially from those anticipated due to factors such as the lack of capital, timely development of products, inability to deliver products when ordered, inability of potential customers to pay for ordered products, and political and economic risks inherent in international trade.