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 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 and the European Union 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 to payment when procuring services to accomplish business objectives.

"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 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 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) policies and requisition tracking by United Nations Standard Product and Services Code (UNSPSC). Fieldglass(TM) has also enhanced its ad hoc 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 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.