March 13, 2001 ProcureNet, a B2B electronic billing solution provider, today announced a strategic partnership formed to offer an integrated e-procurement, e-billing and e-contract solution. The alliance enables ProcureNet and Upside Software clients to increase efficiency and save costs through the use of interfaces between Upside Software's Internet billing and contract management solutions and ProcureNet's OneSource e-procurement application.
Ken Farber, executive vice president of ProcureNet, said, Combining ProcureNet's ability to easily order a wide array of goods over the Internet with Upside Software's advanced Internet billing and contracts management components ensures our joint customers have real-time access to the complete purchasing lifecycle. This means faster sourcing and procurement, faster payment and substantial ROI [Return on Investment]."
ProcureNet's OneSource software suite creates a paperless procurement process, in order for customers to streamline their purchasing processes, increase efficiency and reduce procurement-related costs. Upside Software takes the same approach to streamlining the contracting and invoice management processes, eliminating paper and leveraging a business rules engine for hands-off processing. The combined solution provides online management of the procurement life cycle from tendering, contracting, and purchasing, to invoice management and payment.