Boston June 12, 2001 Purchasing and requisition software company landed its most recent contract with Eaton Vance, a mutual funds and financial services firm that manages some $49 billion in assets. Other PurchasingNet customers include T. Rowe Price, Countrywide Home Loans, Goldman Sachs, US Bancorp and Navy Federal Credit Union. The software provides Web-based requisitioning, approvals, purchasing, receiving, and invoice matching functionality.
"A growing number of financial service companies recognize there are significant potential cost-reduction opportunities when implementing PurchasingNet-SQL software," states Tim McEneny, CEO of PurchasingNet Inc. "As margins are squeezed, the need to eliminate waste and control costs becomes more important to Financial Service companies. Many of them are reducing purchase prices on operating resources by 5-10 percent using our software," states McEneny.
"We will be building an interface to Great Plains Accounts Payable software for Eaton Vance," according to Director of Enterprise Solutions Andy Russo. "PurchasingNet-SQL will pass matched and approved invoices to the Great Plains system for payment."