PurchasingNet, OB10 Collaborate to Introduce
PNet Supplier Network – Powered by OB10

October 26, 2007 – PurchasingNet, Inc. (www.PurchasingNet.com) recently introduced PNet Supplier Network – Powered by OB10, to further expand the number of available supplier recruitment options within its PNet Procure-to-Pay Software. PurchasingNet’s partnership with OB10, operator of the leading, global eInvoicing network now provides PNet customers with access to an established base of over 35,000 suppliers.

PNet Supplier Network – Powered by OB10 expedites the supplier on-boarding process by allowing Accounts Payable departments to pull electronic invoices from an established supplier network into their PNet Procure-to-Pay software solution. This service eliminates manual scanning and data entry, and enables process improvements that reduce errors and increase early payment discounts. New suppliers are not required to implement any special hardware or software to enroll in PNet Supplier Network.

The OB10 network is distinguished by the fact that it allows suppliers to submit invoices in any electronic format, from sophisticated Enterprise Resource Planning systems such as Lawson™, all the way down to small-business applications such as QuickBooks. OB10’s ability to automatically translate these invoices and present them to the buyer through their preferred PNet Procure-to-Pay format is the key to achieving high rates of supplier adoption.

“Our relationship with OB10 allows us to expand on our already powerful electronic file, Web-form and paper-based supplier on-boarding options. This addition will position PNet to deliver the fastest time-to-value and resulting ROI, by enabling the largest number of suppliers in the shortest amount of time,” stated Tim McEneny, President & CEO, PurchasingNet, Inc.

“Like PNet, OB10’s technology is designed to deliver process improvements and cost efficiencies to customers,” said Peter Watson, Senior Vice President, OB10. “Through our partnership, PNet Supplier Network – Powered by OB10 will provide access to the volume of onboarded suppliers that their customer base requires."

PurchasingNet, Inc. (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 US Bank, Navy Federal Credit Union, American Financial Group, Liz Claiborne, HBO, EarthLink, XM Satellite Radio, Black & Decker, Kroger, and General Mills.