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iContracts™ Better Contracting Solutions Platform and Solutions Deliver Big Results for Duro Bag Manufacturing Company™

World’s largest manufacturer of paper bags improves rebate accuracy by 60% with 50% fewer resources required

Raritan, NJ - December 7, 2009 – iContracts, a leading provider of solutions for managing corporate contracts, commitments, and compliance today announced that the Duro Bag Manufacturing Company™, the leading provider of point-of-purchase bags and sacks in the United States and #1 manufacturer of paper bags in the world, has successfully implemented solutions from iContracts™ to manage customer pricing and performance based rebating processes. The entire suite of products are based on iContracts' Better Contracting Solutions (BCS) platform, available on-demand or behind-the-firewall. The solution has already helped Duro Bag™ realize substantial top and bottom line benefits, including a 60%improvement in accuracy, 50% reduction in required resources, 75% reduction in payment cycles, and complete visibility into the projected and actual performance of customers and product lines. A Duro Bag case study is available at: www.icontracts.com/consumer/case-study.html.

Rick Hensley, Director of Information Services, with Duro Bag™, commented “iContracts superior solutions have enabled Duro Bag to effectively manage all rebate agreements with complete visibility into their impact on overall sales, margins and profitability – with a 60% improvement in accuracy using 50% fewer resources. These superior results in tandem with new capabilities that enable us to forecast the financial impacts of pricing and rebate based structures have been a huge win for Duro Bag and its customers.”

"We are extremely excited to be working with a worldwide leader like Duro Bag™ to deliver on our promise of better contracting solutions for manufacturers”, observed A. Leigh Powell, Chief Executive Officer of iContracts." “Duro Bag’s excellent team of IT and business professionals worked closely with iContracts to make sure our solutions delivered superior top and bottom line improvements – quickly and ahead of schedule. We look forward to a long term relationship with Duro Bag and our constantly expanding base of world-class customers”.

iContracts solutions are available as an “on demand” service or as a behind-the-firewall offering and are built on iContracts's revolutionary BCS platform featuring an advanced data architecture, rich functionality and Simplified Common User Interface (SCUI) enabling users to execute any process after learning just two basic screen formats. This groundbreaking design drastically reduces implementation; training and future upgrade timeframes and costs.

About iContracts
iContracts’ goal is simple – to deliver better solutions for managing contracts that are faster, easier and less expensive to implement. This mantra is reflected in everything we do. Our software is generations ahead of other solutions, powered by a Simplified Common User Interface (SCUI) that makes every user an “expert” by learning just two simple, reusable views and backed by the most highly evolved data architecture in the industry – built by technologists with more experience in building contract management solutions than anyone on the planet! This deep understanding and straightforward approach shows in everything we do. iContracts’ comprehensive suite of solutions manages all aspects of a company’s Chargeback/Billback, rebate and incentive agreements at all levels. Our solutions are enterprise-class and can be quickly and easily integrated with any off-the-shelf or custom system to meet exacting business requirements without the army of consultants and endless fees associated with other products and providers. For more information, please visit www.icontracts.com/consumer.

About Duro Bag
Duro Bag Manufacturing Company was founded in 1953 by Mr. S. David Shor and is still privately owned by the Shor family. Charles Shor, who became President and Chief Executive Officer in 1987, now runs the company started by his father. Today, Duro is the largest paper bag manufacturer in the world. Duro is a full-service bag manufacturer comprised of two divisions. The Standard Products Division produces Grocery Bags; Grocery Sacks; Handle Bags; Merchandise Bags; Paper Lawn and Leaf Bags; and various Specialty Bags, including Lunch Bags, Pharmacy Bags, Liquor Bags, Freshness Paper Bread Bags, Food Service Bags, and many more. The Designer Division produces the broadest range of machine-made paper shopping bags in the industry. The variety of applications includes Retail, Resale, Restaurant/Food Service, and Medical/Pharmaceutical.

iContracts Media Contact:
Anne Ambrosio
iContracts, Inc.
Tel: 908-393-9550
aambrosio@icontracts.com

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