Red Bank, NJ October 22, 2001 PurchasingNet, Inc., a provider Web-based purchasing software, has announced a new module in the PurchasingNet-SQL software series.
The Enterprise Spend Management Module (ESM) was created by PurchasingNet to allow top management to monitor all spending with the click of a mouse in real-time and on one screen. For instance, the software has the ability to give up-to-the-minute status of total company-wide spending and includes graphical displays of purchases (capital spending and expense), services, projects and travel expenses.
The Module can be customized to fit companies' specific requirements, and it also allows senior-level executives to determine how the company is performing against its monthly forecast, quarterly forecast, annual budgets and other financial projections so they can control costs to consistently meet or beat earnings expectations.
"One of the reasons e-procurement has not fulfilled its promise is because it has been aimed primarily at gaining transaction efficiency, explained Tim McEneny, CEO of PurchasingNet. Many companies don't even know what their total spend is, so it is easy to see why e-procurement has no provable ROI [return on investment]. ESM addresses this knowledge gap by telling executives exactly how their organizations are behaving."
The company expects to ship the new module by year-end.