Verian Technologies Unveils ProcureIT 5.0Comprehensive e-Procurement Solution Enables Decentralized Buying and Administrative FunctionsCharlotte, NC September 27, 2000 Verian Technologies, a leading developer of web-based procurement and materials management solutions, today announced ProcureIT 5.0. The new enhanced version takes the procurement and materials management processes of a mid-size company to the next level of supply chain management by:automating information management so that data critical to decision-making is at the users fingertips. freeing the purchasing function from geographic boundaries so procurement can be administered any time, any place. harnessing the power and expertise of collaborative buying. ProcureIT 5.0 is a comprehensive technology solution that enables companies to better allocate purchasing resources and efficiently manage goods in inventory while increasing their return on investment. Adding a more sophisticated and efficient means of organization-wide collaboration, ProcureIT 5.0 enhances contract management and contract utilization. The new version builds on the base features of ProcureIT reports and analyses, sophisticated inventory management, built-in budgeting and approvals, routing systems editing abilities, travel and expense, multi-user defined pick lists, and purchase order attachments."As the e-procurement market matures, there will be a focused effort on continuing to provide a comprehensive solution for streamlining purchasing, materials management, and the administrative functions that accompany these areas," said Tehseen Ali, president and CEO of Verian Technologies. "We have developed ProcureIT 5.0 based on our concentrated observation of the needs of our clients, such as an automated expense management system and historical lead time information for improved order fulfillment."New Functionality:Dynamic Lead Time Companies can respond to demand fluctuations and fill orders quickly by using historical lead time information to determine which vendors have the quickest response time. This allows for a reduced fulfillment cycle and a decreased backlog of orders.Multi-Warehouse Bins This functionality will aid customers in moving goods within warehouses or intra-warehouse transfers. By tracking intra-warehouse replenishment quantities to support bulk breaking and warehouse transfer activities, ProcureIT enables an organization to better understand where the goods are stored and improves inventory tracking.Third Party Document Routing Users can attach documents (i.e. word, excel, text, html, or pdf) to each line item in the purchase order. Attaching documents to the purchase order allows organizations the ability to insure orders are filled 100% correctly. Hierarchical Administration This functionality provides a reduction in staff time by distributing administrative responsibilities across the organization. Executive management can distribute responsibilities as needed and still maintain optimal control over the process.Enhanced Request For Quotes (RFQ) Allows users to have several RFQs open at once. This feature also enables companies to set RFQs by user instead of a centralized system. Buyer Separation by Category/Vendor Organizations can assign buyers to vendors or to categories of supplies. This feature enables organizations to leverage buying area experts regardless of geographic boundaries and better utilization of contracts.Expense Management (v 2.0) Users can use expense management to enter, approve, and pay for expenses incurred while on business. This module also includes a list of vendors that the company wants to work with, forcing the user to pick from this vendor list. Organizations can also set up expanded user-defined attributes to capture additional information about each requisitioner. Availability/PricingProcureIT 5.0 is now available. License fees start at $70,000 and vary depending on size and complexity of the installation. ProcureIT 5.0 can be installed with any database supporting Open Database Connectivity (ODBC) standards, including Microsoft SQL and Oracle platforms. About Verian TechnologiesVerian Technologies is a leading provider of web-based electronic procurement and materials management solutions. Its flagship product, ProcureIT, enables companies to streamline materials management processes, reduce staff time associated with purchasing, and reduce paperwork of a manual-based purchasing department. Verian Technologies solutions enable organizations to significantly reduce operational costs and increase efficiency by automating the entire procurement process. As a result, organizations are able to realize a strategic competitive advantage and a rapid return on investment. Verian Technologies is located in Charlotte, NC, and can be reached by calling 888-791-6909 or 704-547-7301, or visiting the web site at http://www.procureit.com.
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