SMEs Get Service-sourcing Assist

neoIT solution for sourcing services targets small, midsize enterprises

San Ramon, CA  September 20, 2001  Small and midsize enterprises (SMEs) looking to source services online got a new tool this week with the launch of a new application from solution provider neoIT.

neoIT Buyer ASP (application service provider) is a hosted solution intended to give companies visibility and connectivity into the services value chain, from sourcing to delivery management. The resultant productivity increase should reduce process and project costs, the solution provider claims.

"Most organizations have a better process for buying paper and pencils than they do for services," said Atul Vashistha, neoIT's CEO.

neoIT is targeting the solution at the SME market, and it was apparently no coincidence that the company announced the new offering at the Midsize Enterprise Summit put on by technology consulting Gartner. In announcing the solution, Vashistha said, "With neoIT Buyer ASP, small to midsize companies can avoid high up-front licensing and implementation costs and benefit immediately from the resulting enterprise-wide services value chain automation that many Global 2000 [companies] already do."

Users of the new solution will be able to set up enterprise-wide procurement workflows, expand sourcing networks, qualify suppliers, build services requirements, manage bidding, select suppliers and manage supplier relationships. Users can also conduct online negotiations, set up contracts, set up master service agreements, manage the delivery of services, and evaluate results and performance.