SOLVOS Unveils ePM Software Suite Solution for Supplier Relationship Management.Business/High Tech Editors NEW YORK--(BUSINESS WIRE)--Jan. 21, 2002 New Flagship Product A primary product of a company, which is typically why the company was founded and/or what made it well known. For example, MS-DOS, Windows and the Microsoft Office suite have been flagship products of Microsoft. CorelDRAW is a flagship product of Corel Corporation. Enables Procurement and Materials Managers to Streamline, Organize and Automate their Company's Supplier Relationship Management Process SOLVOS, a global provider of Supplier Qualification and Management (SQM SQM Square Meters SQM Software Quality Management SQM Sky Quality Meter SQM Service Quality Management SQM Signal Quality Monitoring SQM Stable Queue Manager SQM Surface Quality Monitor SQM Supplier Quality Manual SQM Signal Quality Monitor ) solutions, today unveiled its flagship product, the ePM(TM) Software Suite. Providing tools that enable global corporations to streamline, organize and automate their supplier qualification and supplier relationship management (SRM (1) (Storage Resource Management) The management of the storage resources in an organization in order to avoid duplication of files and to determine space utilization across all servers. ) practices, SOLVOS's ePM Software Suite(TM) provides front-end Supplier Qualification and Performance Management functionality not available in most leading eProcurement and Enterprise Resource Planning See ERP. (application, business) Enterprise Resource Planning - (ERP) Any software system designed to support and automate the business processes of medium and large businesses. (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. "SOLVOS's ePM Software Suite can fill a crucial gap in the supply chain infrastructure, providing a centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. platform for supplier qualification, performance measurement, and management processes," said Tim Minahan, VP Supply Chain Research, Aberdeen Group Aberdeen Group is a provider of business-related research services. It has its headquarters in Boston, Massachusetts and belongs to the Harte-Hanks group. Founded in 1988, Aberdeen's research is used by over 2. , a leading IT market analysis and positioning services firm. "Such functionality is a welcome complement to existing e-Procurement, e-Sourcing, and ERP technologies, which largely focus on the automation of procurement negotiations, transactions, and workflow. The ePM Software Suite can extend the benefits of these procurement automation solutions by providing buyers with the information necessary to establish and manage optimal supplier relationships." The ePM Software Suite is comprised of four modules including the eRFP Module, Supplier Qualifications Module, Department Reports Module and Supplier Scorecard Module. These modules provide business benefits that include centralized information, automated and sophisticated electronic RFP (Request For Proposal) A document that invites a vendor to submit a bid for hardware, software and/or services. It may provide a general or very detailed specification of the system. 1. (business) RFP - Request for Proposal. 2. processes, automated data aggregation and analysis, reduced cycle time, reduction in data variability, marked cost savings and an increased focus on strategic sourcing decisions. Note to editor: please see attached company fact sheet for additional detail. "With the rise of Internet commerce, large corporations have moved their purchasing processes Purchasing Purchasing is the formal process of buying goods and services. The Purchasing Process can vary from one organization to another but there are some key elements that are common throughout The process usually starts with a 'Demand' or requirements online. Some companies even have 'corporate procurement' staff devoted full time to managing a complex network of vendors -- their "supply chain" -- over the Internet," said Srikant Sharma, 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. , SOLVOS. "While it's convenient for the corporate procurement officer to build and manage his supply chain over the web, SOLVOS's ePM(TM) Software Suite ensures that at the front-end of the SRM process, he's selecting the right vendor, and that he can measure the supplier/vendor's performance in terms of competitive product price, procurement costs, and performance." The ePM Software Suite is available today and priced based on the number of selected modules. The base system, which includes one module, starts at $100,000. About SOLVOS (www.SOLVOS.com) SOLVOS, a global provider of Supplier Relationship Management (SRM) and Supplier Qualification and Management (SQM) solutions, has established a new niche in the supply chain market with the introduction of its ePM(TM) Software Suite. With tools that enable global corporations to streamline, organize and automate their supplier qualification practices, SOLVOS's ePM Software Suite provides "front-end" Supplier Qualification, Supplier Relationship and Performance Management functionality not available in most leading eProcurement and Enterprise Resource Planning (ERP) systems. Funded by, and a partner with, SK Global of South Korea, SOLVOS provides solutions that are 100 percent web-browser based and rapidly scaleable, allowing global multinationals businesses and middle market companies to improve their cost structure by reducing supplier qualification and procurement costs. This process results in dramatic cost-savings by allowing corporate procurement personnel to streamline their existing processes for qualifying, rating and managing all suppliers and vendors across the entire spectrum of Direct Materials, Indirect Materials and 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. . SOLVOS's state-of-the-art, innovative solutions have been developed by real-world domain experts in the areas of corporate purchasing, sourcing, supplier and material-management. SOLVOS's products are 100% complementary with virtually all leading ERP and eProcurement systems, and designed to harvest existing data and information. SOLVOS is privately held with worldwide headquarters based in New York City New York City: see New York, city. New York City City (pop., 2000: 8,008,278), southeastern New York, at the mouth of the Hudson River. The largest city in the U.S. . (C) Copyright 2002 SOLVOS. The ePM(TM) Software Suite is a trademark of SOLVOS. All other trademarks are the property of their respective owners. |
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