FOR IMMEDIATE RELEASE
Procuri and CombineNet Announce Agreement
NEW YORK, NY—November 6 , 2002
At the 2002 Purchasing Conference, Procuri, Inc. and CombineNet, Inc. today announced
they have entered a joint marketing and reselling agreement. Under the agreement,
the two companies will jointly market Procuri Decision Analysis and CombineNet's
ClearBox™ the backbone of CombineNet's advanced decision-making system, to
Global 1000 companies. This partnership provides a superior sourcing solution and
a one-stop shop for self-serve and custom sourcing requirements, regardless of the
scale or complexities of the clients sourcing strategy.
Procuri's newly released Decision Analysis solution integrates the advanced combinatorial
optimization functionality of CombineNet's ClearBox, enabling buyers to quickly
and effectively collect and evaluate price and non-price factors to make a true
Best Value decision. The integration of ClearBox provides Procuri with unprecedented
solution constraint management capability,
Firmly placing Procuri in the front-runner's position in a rapidly changing and
consolidating marketplace," said Tony Bonidy, CombineNet's president and CEO.
Bonidy continued, "The integrated solution provides users with powerful trade-off
analysis capabilities, empowering them to satisfy internal constraints and implement
the savings they achieve in a sourcing event. Moreover, the agreement between our
firms expedites our respective sales positioning for other high value applications
of our technology - from sourcing transportation to production planning and other
complex problem areas of the value chain."
Procuri's Decision Analysis solution allows buyers to collect supplier price and
non-price data and create "what if" scenarios to determine the best supply
strategy. This information provides buyers with a way to determine the best total
value supply decision for their business.
According to Mark F. Morel, Sr., Procuri's president and chief executive officer,
Companies are continually facing complex business problems and need to consider
non-price factors, such as delivery time, quality, proximity and responsiveness,
when making supplier decisions. With this partnership in place, we are able to provide
companies with the tools and services necessary to conduct optimal events and receive
fast ROI."
About Procuri, Inc.:
Procuri delivers strategic e-sourcing solutions, services and knowledge to Global
1000 enterprises. Its Web-based platform encompasses intra- and inter-enterprise
collaboration and advanced RFx functionality, which allows sourcing professionals
to develop and extend sourcing best practices across their organization. Procuri
delivers immediate and significant ROI - customers report average cost savings of
nearly 25 percent in the procurement of direct and indirect materials and services
and cycle time reductions of up to 75 percent. Customers include Eastman Kodak,
ITT Industries, KLM Royal Dutch Airlines, Procter & Gamble and U.S. Steel. For
more information, call 877-360-1660 or visit
www.procuri.com.
About CombineNet
CombineNet, the advanced sourcing technology company, helps companies achieve the absolute best value and lowest total cost of ownership for goods and services. CombineNet's Advanced Sourcing Application Platform enables companies to engage in Expressive Commerce™, the strategic sourcing initiative that allows buyers and sellers to communicate supply and demand more expressively, collaboratively and strategically. The result is a win-win for both buyer and supplier, where greater innovation and efficiency are driven into the supply chain. CombineNet's ASAP consistently produces 10, 15, even 20 percent greater actual cost savings than other e-sourcing solutions, and has delivered more than 45x ROI for the largest businesses in the world including General Mills, PepsiCo, Procter & Gamble, Siemens and others. For more information, visit www.combinenet.com.
Media Contacts:
Greg Holt
CombineNet Inc.
Director of Marketing
Phone: 412.471.8200
gholt@combinenet.com