PNet KPI Dashboard Now Shipping

March 17, 2008 – The new PNet KPI Dashboard was demonstrated at the recent PNet Client Forum 2008 in Las Vegas, Nevada. The module is part of PNet Software Version 9.0 which is now shipping.

The PNet KPI Dashboard provides mid- to large- sized companies with actionable business intelligence from their Procure-to-Pay processes. With the PNet KPI Dashboard, customers can create their own KPI’s or choose from 50 pre-built KPI’s from the PNet Best Practice Library.

Key Performance Indicators (KPI’s) are financial and non-financial metrics used to quantify objectives to reflect the strategic and operational performance of an organization. KPI’s provide business intelligence that allows companies to assess their present state and determine their next course of action. KPI’s are frequently used to “value” difficult-to-measure activities such as the benefits of leadership development, engagement, service, and satisfaction. KPI’s are typically tied to an organization’s strategy, as exemplified through techniques such as the Balanced Scorecard.

The PNet Best Practice KPI Library has been developed by practitioners with access to industry best practices, the PNet Best Practices Report 2.0, and cumulative experience of more than 24 years implementing Procure-to-Pay software solutions. Current pre-loaded KPI report types include:

• Activity Monitor KPI: Examples include volume of PO’s and Invoices, Spend Under Management, Accrued Liabilities, Unpaid Balances, and P-Card Usage.
• Policy Control KPI: Examples include “After-the-Fact” PO’s ensuring that proper approvals are secured before the delivery of products and services.
• Responsiveness KPI: Examples include Order Cycle time, Supplier Qualification time, and Supplier On-Time deliveries.
• Savings KPI: Provides analyses of Cost Savings, Cost Avoidance, and Early Payment Discount Savings.
• Supply Base KPI: Measures the number of active suppliers that account for 80% of the total spend.

“KPI Dashboards are being implemented by a growing number of mid- to large-sized companies. We have combined the latest dashboard technology with leading industry Best Practice KPI’s,” stated Tim McEneny, President & CEO, PurchasingNet, Inc. “Our customers can either select one of the 50 pre-built KPI’s, customize it to meet their requirements, or develop a new KPI which looks at PNet data or other data within their company,” McEneny concluded.

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.