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Market Leader Procuri Acquires TrueSource
Acquisition Adds Advanced Spend Analysis and Spend Management Capabilities to Market-Leading Supply Management Suite
PROCURI EMPOWER 2006, ATLANTA (September 12, 2006) - Procuri, the global leader in On Demand Supply Management solutions, today announced it has acquired TrueSource, Inc., a leading provider of spend intelligence and spend management solutions. The acquisition follows a year-long partnership in which the two companies have worked closely on sales and product alignment. With the acquisition, Procuri delivers the industry's most comprehensive On Demand Supply Management Solution suite for companies of all sizes, industries, and geographies.
With more than 360 global customers and 70 percent year-to-year revenue growth for three years running, Procuri is already the leader in On Demand supply management. TrueSource solutions are used by some of the world's largest organizations, including Alliant Techsystems, the State of Minnesota, and a Global 100 Healthcare Company. The addition of TrueSource's rules-based, software-centric data cleansing and classification capabilities, and integrated commodity program management, will drive significant additional customer traction and revenue growth for Procuri.
"Cost and compliance goals have put spend analysis on the radar of corporate executives," said Procuri President and CEO Mark Morel. "TrueSource's best-in-class spend analysis and management capabilities are perfectly suited to address these trends. The company's proven software-centric and burden-free approach fits well with Procuri's On Demand methodology, making it a welcome alternative to the service-ladened offerings of other spend analysis providers."
Market-Leading Solution
TrueSource provides advanced software for automated data extraction, cleansing, classification, enrichment, and analysis to give enterprises timely, accurate, and detailed visibility into their spend data to optimally manage sourcing, compliance, and commodity or supplier programs. Now named Procuri TotalAnalytics, the solution combines a rules-based classification engine with a holistic and structured processing methodology to quickly and accurately cleanse and classify large volumes of spend data at a detailed level on a repeatable basis.
Following nearly a year-long partnership in which the TrueSource solution was resold under the Procuri TotalAnalytics brand, the On Demand spend analysis solution is available immediately with flexible, subscription-based pricing and will be a key component of Procuri's Supply Management suite, complementing and integrating with Procuri's market-leading TotalSource, TotalContracts, and TotalSupplier modules.
"Enterprises are increasingly looking for broad integrated solutions that holistically manage the complete supply management continuum - from initial spend analysis through ongoing performance management," said Rod True, TrueSource Founder, President, and CEO, who will assume the position of Senior Vice President, Spend Intelligence with Procuri. "Aligning with Procuri allows us to stay ahead of the market needs with an end-to-end supply management suite from a single, market-leading solution provider."
Early Customer Wins
Demonstrating the value of integrating spend analysis capabilities into the Procuri Supply Management Suite, a number of Procuri customers have licensed the TotalAnalytics solutions, including Toyota Motor Credit Corporation and Toyota Motor Sales U.S.A.
About Procuri Empower 2006
Rated as one of the best conferences in the industry by the attendees, Procuri Empower 2006 will feature keynote addresses by recognized executives, case study presentations from major corporations and panel discussions led by top experts in the field. The conference will provide attendees with a unique educational platform to learn about new solution developments, discuss common issues and build mutually profitable relationships. Speakers include Sun Microsystems, MeadWestvaco, Hess Corporation, Cincinnati Children's Hospital, US Steel, National City Bank, Alliant Tech Systems, KLM, McGraw-Hill and QUALCOMM. Empower 2006 will be held September 11-13 2006 at the InterContinental Atlanta. For more information or to attend Procuri Empower 2006, please visit www.procuri.com/empower or contact empower@procuri.com.
About Procuri Inc.
Procuri leads the On Demand Supply Management industry with more than 300 customers of all sizes, industries, geographies and spend categories. Customers include Eastman Kodak, ITT Industries, Air France - KLM, The McGraw-Hill Companies, Newell Rubbermaid, Sun Microsystems and Toyota Motor Sales. Procuri's On Demand solutions for spend analysis, supplier management, strategic sourcing, contract management and compliance are comprehensive, cost effective and instantly available. For more information, call 1-877-360-1600 or visit www.procuri.com. |
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