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PurchasingNet,
Inc. and Countrywide Financial Win Aberdeen’s Accounts Payable
Best Practice Award... 90% of Countrywide’s Red Bank, NJ August 3, 2005 – PurchasingNet, Inc., a leading provider of eProcurement and ePayables solutions, today announced that it has been selected by Aberdeen Group, along with Countrywide Financial Corporation, as one of seven “Best Practice” case studies featured in its latest report on invoice reconciliation and payment research. The report features Accounts Payable success stories, key drivers influencing AP process transformation, and Aberdeen ’s recommendations for successful system deployment. The Aberdeen report details actual benefits realized in four areas:
“Countrywide is a good example of a fast growing company that defined a very specific scope for its invoice program, and then executed very well,” according to Jeff Pikulik, author of the report. “Within nine months Countrywide moved 90% of their PO Invoice volume online”. Between April and June 2005, Aberdeen Group reviewed Accounts Payable programs from over 25 organizations and built upon its previous research of over 700 programs. According to Jeff Gray, Countrywide’s EVP of Procurement, “The PNet ePayables system has helped us enhance our relationships with vendors.” The full Aberdeen report can be downloaded by clicking: http://www.aberdeen.com/link/sponsor.asp?spid=30410107&cid=1948 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.
For Details, Contact: Erinn Tarpey |