Press Releases

PNet Budget Check & Budget Connector Now Available

New Module Helps Mid- to Large-Sized Companies Control Spending vs. Budgets

January 5, 2009 – PurchasingNet, Inc. (www.PurchasingNet.com) announced the PNet Budget Check & Budget Connector module will begin shipping immediately as part of PNet Software Version 9.4.

The PNet Budget Check & Budget Connector module allows Requisitioners at mid- to large-sized companies to confirm that funds are available while processing a request. Using the Budget Connector, budgeted funds can either be loaded into the PNet Database from a spreadsheet or from third-party budget planning software such as Adaptive Planning, Sage, Microsoft® Forecaster, or even Microsoft® Excel.

For example, when a requisition contains items that require funds to be available, the Budget Check functionality automatically performs real-time budget look-up to ensure available budget. If the budget has been exceeded, the request is flagged as exceeding budget. At that point, the request can be completed and approved at the Requisitioner and Approver’s discretion.

A number of client-configurable options determine when budget checking should be activated and how tightly budgeted funds should be controlled. To close the loop between systems, the Budget Connector can export actual spending back to the third-party budget planning software.

“In this economic climate, companies need solutions that provide tangible benefits,” states Tim McEneny, President & CEO, PurchasingNet, Inc. “PNet Software delivers hard dollar savings, enhanced spend visibility, and increased controls to Procurement, Accounts Payable, Financial Management, and IT.”

For more information regarding the PNet Budget Check & Budget Connector visit www.PurchasingNet.com/Budget.html.

PurchasingNet, Inc. (http://www.PurchasingNet.com) is a leading provider of Web-based eProcurement and ePayables software to mid- and large-sized companies. The company has over 1,400 customers in Financial Services, Retail/Consumer Products, Professional Services, Media/Publishing and a variety of other industries.

Founded in 1983, PurchasingNet has focused exclusively on the development and implementation of Procurement and Payables applications since inception. In addition to building an extensive, blue-chip client base, PurchasingNet possesses deep domain expertise in Purchasing and Payables business processes. The average length of service at PurchasingNet is 8 years per employee.

PurchasingNet’s customers include U.S. Bank, Navy Federal Credit Union, American Financial Group, Liz Claiborne, HBO, EarthLink, XM Satellite Radio, Black & Decker, Kroger, and General Mills.