Software provides on-demand, supplier relationship management.
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Press Release Summary:
SRM Software offers visibility and complete source-to-pay capability in each step of procurement process and links to Open Supplier Network. PerfectSource enables customer to reap savings from sourcing processes, PerfectProcure enhances savings via spend control, and PerfectFinance enables customers to extend savings through management of invoices, payments, reconciliation, reporting, and settlement. Web-enabled OSN provides 135,000 users and 7,500 suppliers.
Original Press Release:
Perfect Commerce Announces Unified Solutions and the Open Supplier Network(TM)
Supplier Relationship Management (SRM) solution set links to the Open Supplier Network
Kansas City, Mo. September 2, 2003
Perfect Commerce, Inc.(TM), today announced the two main components of its On-Demand Supplier Relationship Management (SRM) solutions strategy. The first is a set of solutions offering complete source-to-pay functionality, through PerfectSource, PerfectProcure, and PerfectFinance. The second is a web-enabled trading network with 135,000 users and 7,500 suppliers, named the Open Supplier Network(TM) (OSN).
"Working closely with our customers, whom we consider our partners, we have carefully developed and now introduce a broad set of easy-to-use solutions to streamline everything from spend analysis, sourcing and purchasing, to invoicing, payment and finance," said Sandy Kemper, chairman and CEO of Perfect Commerce. "These solutions all tie into the centerpiece of our SRM Strategy: the Open Supplier Network. As an agnostic and non-proprietary supplier hub, the OSN is open to all purchasing and procurement systems," added Kemper. "This means that companies throughout the world can now use their existing purchasing and procurement applications to connect to the OSN. Perfect will manage everything from the supplier adoption process, connectivity and content, to electronic invoice presentment, reconciliation and payment," concluded Kemper.
The Perfect Commerce unified set of SRM solutions offers cost savings, visibility and complete source-to-pay capability as the featured benefits in each step of the procurement process. PerfectSource solutions enable customers to reap new savings from their sourcing processes via Event Manager, Contract Manager and Scorecard Manager. PerfectProcure solutions enable customers to enhance savings via Procurement Manager and Search Manager, which provide better spend control. Finally, PerfectFinance solutions enable customers to extend savings with Invoice Manager and Payment Manager, which allow for simple, accurate and reliable processes for automating the management of invoices, payments, reconciliation, reporting and settlement.
"We are pleased that our team has been able to blend our solutions offerings, create new pricing, and rapidly enable the entire sales force to sell our unified On-Demand SRM solutions," said James McCormick, president and COO of Perfect Commerce. "We know that this announcement, coupled with the external initiatives with our strategic partners, will accelerate the adoption of our solutions by our customers and the market," added McCormick.
The Open Supplier Network is the optimal response to a primary need of Global 2000 companies to be enabled to have direct, electronic connections to their suppliers. Until now, that has been a difficult challenge, as few companies have tackled supplier connectivity, integration and content management in ways that have brought network efficiency to the process. The OSN enables access to thousands of suppliers that are already fully connected and maintains over 20 million catalogue items in the Catalogue Manager. The OSN addresses all of the critical SRM functionality requirements, and access to the OSN is easy using Connect Manager or any purchasing or procurement system offered by the company's Enterprise Resource Planning (ERP) partners.
ABOUT PERFECT COMMERCE, INC.
Perfect Commerce delivers leading On-Demand SRM solutions and the Open Supplier Network(TM). Perfect Commerce has more than 110 Global 2000 clients, 135,000 users and 7,500 suppliers. Perfect Commerce is focused on maximizing the buyer-supplier relationship and has enabled large volumes of transactions and savings for its clients. In the first half of 2003, the company's consolidated purchasing volume exceeded 1.8 million transactions, with dollar volumes reaching nearly $1.9 billion. The company's solutions have helped customers reduce costs by more than 15 percent, compress cycle time by up to 75 percent and significantly enhance the buyer-supplier relationship. Headquartered in the metropolitan area of Kansas City, Missouri, Perfect Commerce can be reached by phone at 866-889-8533 or via the Internet at www.perfect.com.
