Fieldglass: InSite 3.4 Expands Tools to Help Companies Manage Global Services Procurement Initiatives.Business Editors/High-Tech Writers CHICAGO--(BUSINESS WIRE)--May 12, 2003 Buyers can define multiple currencies and conversion rates, automatically calculate taxes for invoices, and easily build template-driven ad-hoc reports Fieldglass(TM) current roster of more than 20 clients and other corporations looking to meet their global business objectives will find a host of new tools in InSite(R) 3.4 to help them manage contract and services procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. ranging from contract labor, outsourcing, consultants and fixed-bid projects. The latest release of the Fieldglass(TM) application, for example, has enhancements designed for its global clients, allowing them to define multiple currencies and conversion rates for their companies to provide consolidated global reporting. Fieldglass(TM) has already leveraged these features, along with enhancements covering legislative and compliance differences, with global clients as its focus expands beyond North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. and the European Union European Union (EU), name given since the ratification (Nov., 1993) of the Treaty of European Union, or Maastricht Treaty, to the European Community to other parts of the globe. InSite(R) is a vendor-neutral application from Fieldglass(TM) that creates a secure, private marketplace for a company and its chosen human capital suppliers. InSite(R) automates and streamlines manual processes, so that corporate users can accurately track, measure and analyze every transaction from requisition A written demand; a formal request or requirement. The formal demand by one government upon another, or by the governor of one state upon the governor of another state, of the surrender of a fugitive from justice. The taking or seizure of property by government. to payment when procuring Procuring, in general, is the act of acquiring goods or services, usually by contract. It may refer to:
"While companies grapple with a weak economy, smart businesses are thinking less about the types of workers to staff their organizations and more about the mix of solutions to meet business objectives," said Fieldglass(TM) Chief Technology Officer Sean Chou. "The latest version of InSite(R) includes a number of features that strengthen and deepen deep·en tr. & intr.v. deep·ened, deep·en·ing, deep·ens To make or become deep or deeper. deepen Verb to make or become deeper or more intense Verb 1. an organization's ability to understand its services options, capturing and highlighting data to make more informed decisions." Buyers can now opt for a "Bid Pool," which provides for a best-rate response from suppliers. Buyers rank a set of candidates, and the suppliers, in turn, can resubmit Verb 1. resubmit - submit (information) again to a program or automatic system feed back return, render - give back; "render money" candidate rates with modified bill rates or markups to make their services options more attractive. In addition, buyers can search requisitions to more quickly locate and include the most appropriate qualifications for the services they need. And with workforce search, they can search for the best candidates by various criteria, including experience, geography, and specific skill sets. A comparison matrix helps them determine the best choices to meet their business objectives. Other buyer improvements include further time sheet rule enhancements enforcing Fair Labor Standard Act (FLSA FLSA Fair Labor Standards Act FLSA Fedora Legacy Security Advisory ) policies and requisition tracking by United Nations Standard Product and Services Code (UNSPSC UNSPSC Universal Standard Products and Services Classification UNSPSC United Nations Standard Products and Services Code ). Fieldglass(TM) has also enhanced its ad hoc For this purpose. Meaning "to this" in Latin, it refers to dealing with special situations as they occur rather than functions that are repeated on a regular basis. See ad hoc query and ad hoc mode. reporting functionality with the ability to create and save custom reports via an easy-to-use, template-driven reporting tool. Release 3.4 also features a number of enhancements for streamlined, high volume business processes such as those found within light industrial temporary labor or call centers. Buyers can hire workers on a first-come, first-serve basis, bypassing the review and selection process. Suppliers can submit group time and expenses on behalf of their workers. And time sheets can be automatically converted to an invoice as they are approved. For suppliers, Release 3.4 can now calculate taxes automatically and add them to invoices. A worker auto registration feature also eliminates the need for a worker or supplier to physically register in InSite(R), greatly benefiting workers who do not have access to their own computers. About Fieldglass Headquartered in Chicago, Fieldglass, Inc. (www.fieldglass.com) is a leading provider of vendor-neutral services procurement solutions for industry leading Global 2000 companies. InSite(R), its Web-based enterprise application, creates a secure, private marketplace between customers and selected suppliers for sourcing, delivering and managing third-party services, including contract labor, consulting and fixed-price projects. Able to interact with legacy systems, ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. systems and e-commerce platforms, InSite(R) allows organizations to extend the benefits of e-procurement beyond products into services, reducing costs while improving cycle times. |
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