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Citizens Banking Corporation Licenses PurchasingNet’s Enterprise eProcurement and ePayables Solution Red Bank, NJ December 8, 2004. PurchasingNet, Inc., a premier provider of eProcurement and ePayables software, today announced that Citizens Banking Corporation has chosen PurchasingNet to support the company’s enterprise-wide eProcurement and ePayables initiatives. Citizens will use PNet’s suite of web-based solutions to automate its Procure-to-Pay process. Anders Lillevik, Citizens Bank’s Director of Corporate Procurement said PNet will be deployed throughout the bank to enhance spending controls and gain further leverage with preferred suppliers. “PNet will allow Citizens Bank to enhance its overall purchasing discipline while gaining significant efficiencies in invoice processing and vendor payment,” Lillevik said. Citizens Banking Corporation was founded in Flint, Michigan in 1871, and is a diversified financial services company providing a wide range of commercial, consumer, mortgage banking, trust investment and financial planning services to a broad client base. Citizens Banking Corporation serves markets through Citizens Bank offices in Michigan, and through F&M Bank offices in Wisconsin and Iowa. Citizens Banking Corporation is the second-largest bank holding company headquartered in Michigan, and the 64th largest bank holding company in the United States, with assets of $7.659 billion as of Sept. 30, 2004. More information about Citizens Banking Corporation is available at www.citizensonline.com. 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 |