Minneapolis January 24, 2002 itiliti today rolled out version 2.4 of its software solution for the e-procurement of professional services and contract labor, adding new candidate ranking and scoring capabilities and contractor expense entry and approval, among other features.
The solution provider says its software enables corporations to better manage relationships with their professional services suppliers and to streamline enterprise-wide processes in sourcing, tracking, engaging and managing contingent workers.
The itiliti 2.4 release includes enhanced candidate ranking and scoring, integrated validation of cost center elements with back-office systems, contractor expense entry and approval, and integration capabilities to streamline billing processes for clients and their suppliers, according to the solution provider.
itiliti says its software can be integrated with any back-office systems with just two days of development. The company has also incorporated an eXtensible Markup Language (XML)-based environment into its three-tiered architecture, allowing the software to communicate with other XML-friendly applications.
Professional services e-procurement holds the promise of hard- and soft-dollar savings: the software can provide purchasing staff with better information on who is paying which contractors for what services, giving a company better control over this portion of its spend and a stronger negotiating position with its services suppliers. In addition, the software can automate certain processes involved in the hiring of temporary labor.
Boston-based technology consultancy AMR Research has predicted that the market for what it calls "professional services automation" could reach $1.8 billion by 2004.
itiliti offers its solution under an application service provider (ASP) model to large enterprises and their managed service providers.
To learn more about professional services e-procurement, see the article "It's All about People" in the Net Best Thing column of iSource Business' February/March 2002 issue.