Paramount Technologies and Office Depot Partner to Promote Integrated PunchOut

Integration Streamlines Purchasing of Office Depot Products from within Market-leading WorkPlace eProcurement Solution

WALLED LAKE, Mich., March 2 - Paramount Technologies, the leading global provider of web-based procurement, project, and time and expense solutions for midmarket organizations, announced today a partnership with office supplies megaretailer Office Depot to promote their integrated PunchOut capability, WorkPlace PunchOut/cXML. The tight partnership includes an enhanced demonstration capability, channel incentives and multiple media communications.

Organizations can now experience WorkPlace PunchOut/cXML within a demonstration site customized for WorkPlace and offering the ability to shop the complete Office Depot inventory using Office Depot's familiar on-line catalog interface. The two companies have jointly developed communications and incentives targeting resellers and customers to expand awareness of, and generate interest in, WorkPlace PunchOut/cXML.

WorkPlace PunchOut/cXML is based on cXML (commerce eXtensible Markup Language), the industry standard for PunchOut, ensuring compatibility with all cXML-compliant suppliers. WorkPlace users select Office Depot with a single click on the WorkPlace Requisition page to be taken directly to the customer-specific Office Depot site. All browsing, shopping, real-time inventory availability and pricing are done from Office Depot's website and their catalog. After shopping the site, when the user checks out, all of the items are populated as requisition line items in WorkPlace to complete the process of account code distribution, shipping information, approving and creating purchase orders. Once the purchase order is created it will be automatically sent to Office Depot via cXML to complete the transaction.

"Office Depot is a leader in deploying technology to simplify business processes," said Salim Khalife, President and CEO, Paramount Technologies. "Our integrated PunchOut simplifies requisitioning, making employees more productive and organizations more efficient."

"We are pleased to partner with eProcurement leader Paramount Technologies to streamline purchasing by our mutual customers," said Chuck Rubin, President of North American Retail for Office Depot. "The tight PunchOut integration with WorkPlace eProcurement makes ordering products from Office Depot quick and easy."

About Paramount Technologies

Paramount Technologies is the leading global provider of web-based Employee Workforce Automation solutions delivering reduced transaction costs and enhanced process efficiencies to midmarket and enterprise organizations through the automation of procurement, requisition, project, time and expense transactions. Established in 1995, Paramount is a private company headquartered in Walled Lake, MI with offices in Atlanta, GA and Jacksonville, FL.

The Paramount Technologies WorkPlace Suite includes WorkPlace eProcurement, WorkPlace Project Accounting, WorkPlace Time and WorkPlace Expense. WorkPlace eProcurement automates and accelerates traditionally inefficient paper-based requisition processes, reducing direct and indirect purchasing costs, reducing requisition-to-order costs and cycle time, increasing control over business transactions and streamlining employee requisition management. WorkPlace solutions are universally accessible from any browser-enabled device; they host on a Windows server and need no client application software. WorkPlace solutions easily integrate with Microsoft Dynamics, Sage MAS 500 ERP, Sage Accpac ERP and other financial systems.

About Office Depot

Every day, Office Depot is Taking Care of Business for millions of customers around the globe. For the local corner store as well as Fortune 500 companies, Office Depot provides products and services to its customers through 1,585 worldwide retail stores, a dedicated sales force, top-rated catalogs and a $4.2 billion e-commerce operation. Office Depot has annual sales of approximately $14.5 billion, and employs about 42,000 associates around the world. The Company provides more office products and services to more customers in more countries than any other company, and currently sells to customers directly or through affiliates in 49 countries.


Brinton E. Baker,

Paramount Technologies, Inc.,

+1-800-725-4408 Ext. 32,

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