Cambridge, MA -- February 11, 2002 -- Frictionless Commerce today rolled out
version 2.0 of its Sourcing solution, adding sourcing performance
management, project collaboration and knowledge management features to its
enterprise sourcing platform.
The new sourcing performance management functionality in Frictionless
Sourcing 2.0 allows companies to measure and monitor various aspects of
sourcing process performance and compliance across the enterprise.
Frictionless said this feature will allow a chief procurement officer to
measure, manage and improve the entire sourcing process by gaining insight
into existing spending patterns and new opportunities for sourcing projects,
as well as access to exceptions reports.
The collaborative project management features allow companies to manage
sourcing events as projects with multiple, global stakeholders. Task
management, project scheduling and resource allocation functionality enable
team members to share ideas, review past results, develop strategies and
ensure compliance with the organization's chosen sourcing methodology,
according to the solution provider.
The knowledge management features let companies capture, distribute and
reuse sourcing knowledge and best practices for ongoing sourcing performance
improvement through a template library. This functionality should allow an
organization to build on past experience and avoid having to reinvent the
wheel with each new sourcing effort.
Tim Minahan, vice president of supply chain research at the technology
consultancy Aberdeen Group, said the new release should enable enterprises
to take a more holistic approach to sourcing and cost management.
"Frictionless Sourcing 2.0 provides the collaboration, process control,
analytics and knowledge management capabilities necessary for companies to
not only identify and negotiate procurement savings but also to implement
and monitor these savings over time," Minahan said.
Frictionless says its Sourcing 2.0 software can be integrated into existing
systems behind a company's firewall, including e-procurement, enterprise
resource planning and product data management systems, giving purchasing
professionals the ability to access data from disparate locations.