| Aberdeen Reports Benefits of Best-in-Class eProcurement Adoption Red Bank, NJ September 7, 2006 - eProcurement continues to serve as the leading vehicle for a procurement organization to place more spend under management, reduce costs, and improve the speed of transactions. And, according to The Aberdeen Group’s latest study, “The eProcurement Benchmark Report,” best-in-class enterprises are reaping the most enviable advantages. “Like your local mailman, eProcurement steadily delivers,” said Vance Checketts, Global Supply Management Group Director at Aberdeen and one of the authors of the study. As best-in-class organizations seek to extend their advantage, the wider array of solutions available in the market has greatly lowered the hurdles to invest in eProcurement initiatives. “This means that even smaller companies can no longer afford to do nothing,” concluded Checketts. “The eProcurement Benchmark Report” is the fifth in Aberdeen’s series on eProcurement which began in 1998. This year’s 140 participants outperformed the 2001 and 2004 benchmarks in total spending managed through eProcurement, lowered costs, decreases in unapproved spending, and shorter requisition-to-order cycles. On average, enterprises participating in the August study reported the following trends since adopting eProcurement:
By comparison, best-in-class adopters of eProcurement -- roughly 20% of market -- on average were able to achieve the following advantages versus the market at large:
Aberdeen found that best-in-class companies achieve these results by taking a more holistic view of their eProcurement program. For example, the businesses in this category were most likely to:
“Many of our customers participated in the Aberdeen survey. The results substantiate the fact that our Proven Path Deployment Methodology (PPDM) is paying large dividends for our customers,” stated Tim McEneny, CEO of PurchasingNet, Inc., one of the sponsors of the study. “The eProcurement Benchmark Report” provides readers with actionable frameworks to evaluate their eProcurement programs against the industry average and best-in-class performers. Readers will receive improvement recommendations based on their current level of eProcurement maturity. About PurchasingNet, Inc. PurchasingNet, Inc. 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 Countrywide Financial, US Bank, Navy Federal Credit Union, American Financial Group, Liz Claiborne, HBO, EarthLink, Black & Decker, Kroger, and General Mills.
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