Verticalnet to Deliver Comprehensive Global Spend Analysis and Strategic Sourcing for Industry-Leading Invensys Group; Global Sourcing Program Aimed at Improved Efficiency, Process Standardization and Cost Reduction.MALVERN, Pa. -- Verticalnet, Inc. (Nasdaq:VERT), a leading provider of on-demand supply management solutions, today announced that it has signed a license and services agreement with Invensys, a multi billion dollar leader in global automation, controls and process solutions. Components of the powerful Verticalnet XE Supply Management Solution Suite will provide Invensys with visibility into its world-wide spending across multiple sourcing systems and the enabling technology to support a global sourcing initiative. Invensys' business requirements included the need for a spend analysis solution that provided visibility into spend across approximately 15 key facilities in the 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. , Europe, Middle East Africa, and the Asia Pacific regions. The initiative will seek to identify and then realize sourcing opportunities to meet Invensys' savings goals for 2006 and beyond. Invensys plans to transition all worldwide sourcing initiatives to modules of the Verticalnet XE Supply Management Suite including spend analysis, strategic sourcing, and program manager. The Verticalnet XE Program Manager module will be used to assure adherence adherence /ad·her·ence/ (ad-her´ens) the act or condition of sticking to something. immune adherence to Invensys' current seven-step sourcing process. This will allow Invensys to meet its goal of a standardized standardized pertaining to data that have been submitted to standardization procedures. standardized morbidity rate see morbidity rate. standardized mortality rate see mortality rate. sourcing platform and process designed to significantly reduce its cost structure and improve the efficiency within its worldwide supply chain. "We are very pleased to announce that Verticalnet has been awarded the contract for our upstream From the consumer to the provider. See downstream. (networking) upstream - Fewer network hops away from a backbone or hub. For example, a small ISP that connects to the Internet through a larger ISP that has their own connection to the backbone is downstream from the larger spend management solution," states Jeff Green Jeff Green may refer to:
tr.v. im·pressed, im·press·ing, im·press·es 1. To affect strongly, often favorably: with the people and product offered by Verticalnet. The comprehensive spend analysis capabilities, rapid implementation timeline
Timeline may refer to:
"Verticalnet is excited to be working with an industry leader like Invensys on a project of this magnitude," states Nathanael V. Lentz, President and 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. of Verticalnet. "The competition to win the Invensys business was challenging. This is a tremendous win for Verticalnet and a great team effort. One key to the Verticalnet competitive success at Invensys was the fact that the Verticalnet XE suite is on-demand. Our on-demand capability across our entire XE Suite of solutions means that Invensys will be able to see results sooner without lengthy software implementations and costly software upgrades." Lentz concludes, "Verticalnet XE's on-demand capabilities can provide Invensys with optimal spend visibility, sourcing and negotiation results at a low cost of ownership." About Verticalnet Verticalnet is a leading provider of on-demand supply management solutions that enable companies to identify and realize sustained value across the supply management lifecycle. Going beyond traditional spend management and sourcing approaches, Verticalnet's solutions provide the visibility, insight and process control required to maximize the sustained value realization from supply management. Large enough to help customers attain supply management success worldwide, yet nimble nim·ble adj. nim·bler, nim·blest 1. Quick, light, or agile in movement or action; deft: nimble fingers. See Synonyms at dexterous. 2. enough to provide individual attention and remain focused on customer priorities, Verticalnet is helping leading Global 2000 companies and mid-market enterprises move their supply management efforts to the next level through an optimal blend of software, comprehensive services, and deep category knowledge and domain expertise. The Verticalnet XE Supply Management suite is available on-demand and includes: --Verticalnet(R) Program Manager -- lowers the total cost of ownership and improves productivity for strategic sourcing through sound and re-usable program and process management --Verticalnet(R) Spend Manager -- a fast, intelligent, and repeatable spend analysis solution for identifying, evaluating, and quantifying enterprise-wide sourcing opportunities while measuring compliance --Verticalnet(R) Negotiation Manager -- accelerates and improves negotiated savings through online auctions and eRFX events --Verticalnet(R) Procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. Manager -- simplifies and improves control over the procurement process to help companies realize the maximum cost savings identified through supplier sourcing and negotiation --Verticalnet(R) Contract Manager -- provides real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. insights into contract obligations, exposures, expirations, changes and renewals delivering greater control, reducing costly oversights and minimizing supplier risk --Verticalnet(R) Performance Manager -- enables companies to effectively track and manage supplier performance, contract compliance and identify potential areas of supplier risk To learn more, please visit us at www.verticalnet.com. Verticalnet is a registered trademark or a trademark in the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. and other countries of Vert Tech LLC (Logical Link Control) See "LANs" under data link protocol. LLC - Logical Link Control |
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