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Board of Trade Clearing Corporation Selects PurchasingNet-SQL to Streamline Their Purchasing Process.

Upgrade from P.O. Writer Plus Implemented in a Record Nine Days

LINCROFT, N.J., Oct. 31 /PRNewswire/ --

PurchasingNet, Inc. (formerly American Tech, Inc.) announced today that The Board of Trade Clearing Corporation (BOTCC(R) or the Clearing Corporation), an independent corporation owned by clearing member firms which trade on the Chicago Board of Trade (CBOT(R)) and the MidAmerica Commodity Exchange, selected PurchasingNet-SQL as the eProcurement solution to streamline its purchasing process.

A long-time PurchasingNet customer, the Clearing Corporation upgraded its existing procurement solution from P.O. Writer Plus to the new PurchasingNet-SQL to further automate its purchasing system. The installation was completed in a record nine days, allowing the Clearing Corporation to promote its technology and quickly integrate electronic requisitioning throughout the organization.

"We are delighted to be working with the Board of Trade Clearing Corporation and are extremely pleased that PurchasingNet-SQL was selected as its eProcurement solution," said Tim McEneny, president and CEO of PurchasingNet, Inc. "With its enterprise capabilities, PurchasingNet-SQL will improve the BOTCC's purchasing process and enable its purchasing department to operate more efficiently."

"The transition from P.O. Writer Plus to PurchasingNet-SQL was seamless," said Ms. Lou Schiller, director of office services, for the Board of Trade Clearing Corporation. "The requisitioners were trained in less than a day, and the executives were extremely pleased with the ease of the approval process and the fact that it required no formal training."

About the Clearing Corporation

The Clearing Corporation, a Delaware corporation, now in its 75th year of business, is the only derivatives clearing house that has a Standard & Poor's AAA rating and approximately $170 million in capital. The Clearing Corporation is owned by its clearing member shareholders and is the only independent derivatives clearing house in the world. For more information about the Clearing Corporation, please visit

About PurchasingNet Inc.

Since 1984, PurchasingNet has led the market in development and implementation of software to streamline the corporate purchasing and requisition process. PurchasingNet-SQL(TM) is a web-based, enterprise-level e-Procurement solution for mid-sized to large organizations. Exclusive benefits include Front-Office and Back- Office functionality, Catalog Junction(TM) middleware, and Proven Path Deployment Methodology(TM). PurchasingNet-SQL is compatible with MS-SQL and Oracle databases, and can be integrated with most legacy, ERP and financial software systems. Average investment is $75,000 - $500,000, depending on volume, options and customizations.

PurchasingNet's customers include Countrywide Home Loans, the nation's leading residential mortgage lender; Firstar Corporation, a $73 billion bank holding company; Skadden, Arps, Slate, Meagher & Flom LLP, the nation's largest law firm; American Financial Group; T. Rowe Price; The Limited; Just For Feet; Time Warner; AGENCY.COM; General Mills, and Black & Decker. PurchasingNet's products are licensed to more than 1,400 companies with 400,000 seats. PurchasingNet's headquarters is located at 125 Half Mile Road, Lincroft, NJ 07738; phone (732) 946-8844;
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Publication:PR Newswire
Date:Oct 31, 2000
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