PurchasingNet, Inc. Releases PNet Version 8.0

May 14, 2007 – PurchasingNet, Inc. (www.PurchasingNet.com) today announced general availability of PNet Procure-to-Pay Version 8.0.  The latest PNet offering includes the PNet eProcurement Suite, PNet ePayables Suite, and the PNet Financial Management Suite.

PNet Version 8.0 was designed to enhance the end-user experience and provide enhanced internal controls to improve business performance.

Some of the 35 new features and functions in PNet Version 8.0 include:

• A 100% browser-based User Interface for all transaction processing. The UI includes context- sensitive online help.
• An enhanced catalog search capability which displays results by relevancy percentage.
• The ability to specify receipt and PO Invoice tolerances by supplier.  This provides greater control, flexibility, and compliance.
• The introduction of 43 new role-based permissions to allow segregation of administrative responsibilities.
• The PNet “Sortable-and-Exportable” feature facilitates ad-hoc spend analysis by exporting relevant data to Excel spreadsheets.

Many of the new features and functions in V-8.0 were the result of feedback from PNet Client Forum Brainstorming sessions and subsequent balloting process.

“Our customers are an integral part of our product development process.  The Customer Brainstorming Session at our annual Client Forum helps us set priorities for incorporating new features and functions into PNet,” states Erick Schutz, VP of Development, PurchasingNet, Inc.

Version 8.0 will ship immediately.

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.