New Push for Noosh

Software update adds procurement of indirect custom goods and services

Palo Alto, CA  June 21, 2001  e-Procurement provider Noosh this week launched version four of its online purchasing platform.

Noosh 4 includes customization capabilities and new applications for the procurement of indirect custom goods and services and the management of business insurance transactions.

The customization features include the capability to develop project specifications, teams, workflows and management reports, which Noosh says will help companies streamline cross-enterprise, people-intensive business processes. Object-level security and detailed event tracking help enforce business rules at the individual, team, division and company level. Data exchange with other systems is enabled the use of open system standards.

In addition, specific functionality has been added to help companies manage the procurement of custom goods and services that cannot be managed with electronic catalog technology. Indirect custom procurement includes services such as information technology (IT) contractors, temporary staffing and consultants; marketing projects such as print, direct mail, media and events; capital spending such as equipment and facilities; business insurance; and other large spot purchases.

The new software also targets the life cycle of business insurance transactions by helping involved parties to manage deal making, risk placement, customer service, claims and disputes and treaty negotiation. The software places all documents relating to a transaction  such as policies, endorsements, treaties, historical quotes and claims summaries  in a single secure location with controlled access privileges.

Noosh has implemented its solutions to date in such enterprises as Aetna, Bank of America, GE Capital and Wells Fargo. "Noosh allows communication to be digitized, that is, centralized and shared across multiple offices and individuals," said Jerome Marcus, managing director of GE Equity.