Canadian Ministry of Finance and Others Upgrade PurchaseSoft Electronic Procurement Systems.MINNEAPOLIS--(BUSINESS WIRE)--Dec. 17, 1999-- Six Other PurchaseSoft Customers Upgrade Software to Newest Version PurchaseSoft, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :PURC PURC Purchase PURC Public Utility Research Center (University of Florida Warrington College of Business) PURC Psychology Undergraduate Research Conference PURC Pick Up Record Capability PURC Public Utilities Regulatory Committee ), a provider of business-to-business procurement software Procurement software is business software that helps to automate the purchasing function of organizations. Activities including raising and approving purchase orders, selecting and ordering the product or service, receiving and matching the invoice and order, and paying the bill is for mid-sized organizations, announced that the Canadian Ministry of Finance, an existing software customer, has added a second PurchaseSoft solution to its network, and that six other existing customers have upgraded their current PurchaseSoft systems. The Canadian Ministry of Finance currently uses PurchaseSoft to manage procurement for maintenance, repair and operational (MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. ) functions for their department. The new system, PurchaseSoft 5.1, will be used specifically to manage all IT-related procurement, from requests for quotations through back-end reporting and analysis. The customers upgrading to version PurchaseSoft 5.1 include: Canada-based Brewer's Retail, Inc.; Schroder & Co., Inc.; Gruntal & Co. LLP LLP - Lower Layer Protocol , an investment firm; Country Companies Insurance Group; investment firm Donaldson, Lufkin & Jenrette, Inc.; and accounting firm KPMG KPMG Klynveld Peat Marwick Goerdeler (accounting firm) KPMG Kaiser Permanente Medical Group KPMG Keiner Prüft Mehr Genau (German) KPMG Kommen Prüfen Meckern Gehen , LLP. PurchaseSoft introduced version 5.1 this past August. The new version added a web-based interface to facilitate requisitioning and receiving via the Internet, and the ability to scan and retain ancillary documents, such as packing lists, images, or specifications, in the database along with the purchase order and documentation. "PurchaseSoft 5.1 is a proven end-to-end client/server procurement solution," said Jeffrey Pinkerton, President for PurchaseSoft. "We are pleased to provide our current users with leading-edge purchasing and sourcing solutions." PurchaseSoft, Inc. is an industry leader in end-to-end Enterprise Procurement Management software. The PurchaseSoft family of products combines over 20 years of procurement expertise with industry-leading software design and internet technologies. As a result, PurchaseSoft offers medium and large-sized businesses strategic Procurement Intelligence(TM) that helps them to significantly reduce costs and increase productivity through their procurement process and drive more profit to the bottom line. For additional information, visit www.purchasesoft.com. Safe Harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. Statement: This document is neither an offer to sell nor a solicitation of an offer to buy any securities of the company. Statements made in this document that state the company's or management's beliefs or expectations and which are not historical facts or which apply prospectively are forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . It is important to note that the company's actual results could differ materially from those contained within or implied by such forward-looking statements. Additional information concerning certain risks and uncertainties are discussed under the caption "Risk Factors" in the Company's Annual Report on Form 10-KSB for the year ended May 31, 1999. |
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