SDCExec.com |

Philadelphia — April 22, 2008 — The Hertz Corporation, the world's largest general use car rental brand, has signed a five-year contract with ICG Commerce, a procurement services provider, for procurement outsourcing services to support Hertz's broader efficiency improvement and re-engineering efforts.

"Our objective is to be the lowest cost, highest quality and most customer-focused company in the rental markets we serve. We are selecting service providers who will help us drive efficiency, quality and service improvements worldwide," explained Mark P. Frissora, Hertz's chairman and CEO.

John Thomas, executive vice president, Global Supply Chain at Hertz added: "Partnering with ICG Commerce enables our company to drive material savings across indirect spend over the next five years while increasing our focus on direct expenses and other key supply chain opportunities."

The Hertz Corporation operates from approximately 8,000 locations in 145 countries worldwide. Hertz is the No. 1 car rental brand in the United States and at 69 major airports in Europe, as well as the only car rental company with corporate and licensee locations in Africa, Asia, Australia, Europe, Latin America, the Middle East and North America.

Under the contract, ICG Commerce will provide procurement outsourcing services for Hertz's North American and European operations. These services are expected to help Hertz drive greater control over expenditures in buying categories that include professional services, equipment and automotive, facilities, transportation, IT, benefits, and marketing.

"We chose the procurement specialist based on ICG Commerce's deep procurement expertise, track record of helping companies achieve aggressive bottom-line cost reductions and their understanding of our needs and goals," said Thomas. "Working collaboratively with ICG Commerce allows us to more effectively deliver global, best-in-class procurement to support and grow our business."

In order to help Hertz achieve its procurement goals, ICG Commerce said it will provide access to infrastructure that supports sourcing, transaction management and category management across North America and Europe. ICG Commerce will use its partnership with Genpact, drawing on the company's Six Sigma experience and operational capabilities, to support procurement processing in Europe.