GREAT RIVER, NY January 10, 2001 It looks like the insurance companies are catching the B2B fever. Amica Mutual Insurance Company, an established auto insurer, has selected ProcureNet to enable its Web-based procurement initiative. Amica will use ProcureNet's OneSource as its supply chain solution platform, a three-tiered program of ProcureNet's solutions, to help give its employees universal access to a customized vendor catalog and create a streamlined business process for order tracking, requisition and accounting.
Amica hopes that deploying OneSource will save the company 30 percent annually on the cost of procurement. Of interest for Amica is OneSource's Approval Workflow capabilities, which will help the company streamline its business processes by assigning approvals and electronically routing transactions to appropriate parties for review. The software will also generate comprehensive reports that will assist in spending trend analysis.
ProcureNet's technology will give us the ability to respond quickly to employees' requests and efficiently manage all internal inventory and order history information, said Donna Adams at Amica. By modernizing our procurement function, we're confident that we can significantly lower costs in this area, which will positively affect our bottom line.
We're finding that a growing number of top-performing businesses like Amica are choosing ProcureNet's three-tiered solution to move their legacy investments into an e-commerce environment, said Reuven Battat, CEO of ProcureNet. Our experience in Web-based procurement, which provides for paperless ordering, tracking and delivery, offers companies of all sizes a seamless, efficient and reliable platform solution.