Cedar.Cedar, a global consulting, applications and outsourcing firm, and San Francisco-based BioSpace Inc. have entered into an agreement that gives Cedar the exclusive rights to market and distribute Marketplace, an eProcurement solution first developed at the National Institutes of Health (NIH "Not invented here." See digispeak. NIH - The United States National Institutes of Health. ). Marketplace provides a centralized, simplified system for reconciling credit card transactions. Formerly called IntraMall, Marketplace is credited with saving NIH millions of dollars by speeding procurement while providing safeguards against credit card fraud Credit card fraud is a wide-ranging term for theft and fraud committed using a credit card or any similar payment mechanism as a fraudulent source of funds in a transaction. The purpose may be to obtain goods without paying, or to obtain unauthorized funds from an account. , waste and abuse. "Marketplace ensures all rules, policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are upheld before orders are processed and guarantees financial reconciliation at the project and budget level," says Bob Byrd, vice president, federal government sector, Cedar. "As a result, it is extremely well-suited to government agencies, which typically have bad some difficulty in assuring credit card purchases are 100 percent compliant with federal acquisition regulations The Federal Acquisition Regulation (usually referred to as the FAR or F.A.R.), are a series of regulations issued by the Federal government of the United States that concern the requirements of contractors for selling to the government, the terms under which the and generally accepted accounting principles The standard accounting rules, regulations, and procedures used by companies in maintaining their financial records. Generally accepted accounting principles (GAAP) provide companies and accountants with a consistent set of guidelines that cover both broad accounting ." Beyond potential cost savings, the new partnership will allow both companies to enhance their product and service offerings. Web: www.cedar.com; www.biospace.com |
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