Bush Calls for eProcurement to be Government-Wide Standard; Epylon CEO Comments on Established Success of Government Agencies Purchasing Online.Business Editors/High-Tech & Government Writers SAN FRANCISCO--(BUSINESS WIRE)--April 9, 2001 In his 2001 10-year budget plan, President Bush called for expanded online purchasing initiatives for government agencies to save time and money. In his proposal Bush allocated $100 million over three years for interagency eGovernment initiatives such as eProcurement. Epylon has been offering its tailored eProcurement solution to public sector agencies for over a year now, and has already helped 1,400 registered public sector agencies realize the benefits of purchasing online. BB&T capital markets estimates that U.S. Government spending Government spending or government expenditure consists of government purchases, which can be financed by seigniorage, taxes, or government borrowing. It is considered to be one of the major components of gross domestic product. will reach $760 billion in 2001. As this purchasing power Purchasing Power 1. The value of a currency expressed in terms of the amount of goods or services that one unit of money can buy. Purchasing power is important because, all else being equal, inflation decreases the amount of goods or services you'd be able to purchase. 2. moves online, Epylon is uniquely positioned to provide government agencies with a proven eProcurement solution tailored specifically to their needs. "We already have a working solution in place to help government agencies reap the benefits of online purchasing and meet Bush's mandate," said Stephen George, Founder and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of Epylon Corporation. "Working closely with government agencies as well as with our partners Accenture, Deloitte Consulting and Ariba has enabled Epylon to develop a solution designed around the public sector's unique operating and workflow environment. Our customers can quickly and easily purchase anything from computer hardware and software to office supplies or prison uniforms online via Epylon." Bush's 10-year budget plan reports that paperless contracting with eProcurement saves money through reduced transaction costs Transaction Costs Costs incurred when buying or selling securities. These include brokers' commissions and spreads (the difference between the price the dealer paid for a security and the price they can sell it). and greater vendor competition. Aberdeen Group estimates that eProcurement can reduce the cost per order by two thirds from traditional manual purchasing procedures. With time and money savings realized, Epylon customers are finding they can more efficiently reallocate Verb 1. reallocate - allocate, distribute, or apportion anew; "Congressional seats are reapportioned on the basis of census data" reapportion allocate, apportion - distribute according to a plan or set apart for a special purpose; "I am allocating a loaf of scarce resources to more valuable purposes. The States of North Carolina North Carolina, state in the SE United States. It is bordered by the Atlantic Ocean (E), South Carolina and Georgia (S), Tennessee (W), and Virginia (N). Facts and Figures Area, 52,586 sq mi (136,198 sq km). Pop. and Michigan along with Denver and Minneapolis Public Schools Minneapolis Public Schools (MPS) is a school district that covers all of the city of Minneapolis, Minnesota. Leadership The Minneapolis Board of Education describes itself as a "a policy-making body responsible for selecting the superintendent and overseeing the have already begun implementing Epylon's streamlined eProcurement solution. Epylon CEO Stephen George is available to discuss the migration of government purchasing online and the role Epylon is already playing in fulfilling Bush's vision. To schedule an interview call 415/512-0770 and ask for a member of the Epylon team. To order a copy of the President's 10-year budget plan call 202/512-1800. |
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