March 13, 2008 09:15 ET

Bassett Furniture Automates Global Sourcing to Enhance Customer Service and Preserve Margins

Goes Live on TradeCard Platform to Obtain Automation and Visibility Into Overseas Operations to Deliver More Custom Products in Less Time

NEW YORK, NY--(Marketwire - March 13, 2008) - TradeCard, Inc., the leading provider of extended supply chain solutions, announced today that Bassett Furniture (NASDAQ: BSET) has deployed the TradeCard Platform to improve supplier visibility and automate accounts payable processes to increase efficiency and accuracy. Bassett's sourcing infrastructure enables it to leverage production resources and economic power provided by an extended value chain for rapid delivery of customized quality furniture. Extended supply chain automation and control through TradeCard enhance Bassett's ability to provide more style options to consumers while maintaining superior levels of customer service, including in-home design service and rapid delivery.

"Our sourcing infrastructure and customization capabilities uniquely position us to provide consumers with the furniture styles and value they want," said Keith Sanders, senior vice president at Bassett Furniture. "We recognized that with the right supply chain approach we could enhance the customer experience and continue to deliver on our 30 day promise. Our strategic sourcing organization enables us to deliver customized products in less time, with less cost, by leveraging a value-network of suppliers and service providers through TradeCard."

TradeCard helps Bassett streamline business processes to better compete in an industry where margins are under heavy pressure. TradeCard's global sourcing platform has local support in more than 45 countries, including key furniture sourcing regions, to assist Bassett in obtaining complete supply chain visibility. Critical back office functions are automated to remove process time and cost. The combination of sourcing automation and visibility allows Bassett to maintain supply chain control to ensure its customers receive the right products at the right time, for the right cost.

"Consumers today seek customized furniture and they want it in their homes immediately," said Kurt Cavano, CEO, TradeCard, Inc. "Furniture companies are challenged to juggle cost advantages and customer demands when sourcing in a global environment. Innovative furniture companies like Bassett can achieve success in global sourcing if they have the right tools and mindset. TradeCard enables Bassett to eliminate paper-based and manual processes throughout its accounts payable department to improve efficiency. By connecting with suppliers on a real-time platform that automates global sourcing, Bassett will improve its margins while monitoring delivery performance."

TradeCard provides a rapidly deployed smart network that enables the extended supply chain. Its services and global trading partners are delivered on a software-as-a-service supply chain platform that connects more than 3,000 buyers, suppliers and service providers. TradeCard helps clients that range from $10 million to over $20 billion in revenue to transform the supply chain into a true value chain by eliminating waste and delay from the sourcing process. Financial services available on the TradeCard Platform help companies of all sizes to better compete by improving margin and cash flow. TradeCard's software-as-a-service delivery model and global support team enable rapid deployment in as little as 45 days.

About TradeCard, Inc.

TradeCard, Inc. is the leading provider of on-demand supply chain management solutions. The TradeCard Platform synchronizes financial transactions with physical events in the global supply chain to help customers automate trade transactions from purchase order to payment and chargebacks. Buyers, sellers and their trading partners manage transactions through a web-based platform with online financial services integrated into the workflow. This turnkey transaction management enables customers to improve margins and enhance growth, with extra-organizational supply chain visibility. TradeCard's on-the-ground trade experts throughout the world assure superior supply chain agility.

TradeCard manages global trade for thousands of users in over 40 countries, including Columbia Sportswear, Rite Aid and Wolverine Worldwide. TradeCard, Inc. is headquartered in New York City and has offices in San Francisco, Hong Kong, Brussels, Taipei, Seoul, Colombo, and Shenzhen. TradeCard is located online at www.tradecard.com.