Leading media company selects solutions to deliver sourcing excellence
Atlanta — June 7, 2004 — Procuri Inc., a provider of strategic sourcing solutions, announced that Cox Enterprises Inc., one of the nation's leading media companies and providers of automotive services, signed a multi-year agreement to use Procuri's solutions.
Cox said it conducted a comprehensive evaluation of Procuri's full suite of solutions after investigating other sourcing providers. Cox executives were impressed with the ease-of-use of Procuri's solutions and the significant cost-savings generated during the evaluation period.
"After our first reverse auction, we were pleased with the immediate [return on investment] achieved using Procuri's solutions. The application was effective and easy to use," said Mike Mannheimer, vice president of materials management for Cox Enterprises.
Cox Communications reported that some of the outcomes from the reverse auction included an enhanced level of competitive pricing with invited suppliers and improvements in their sourcing processes.
"Procuri's solution allowed us to obtain the 'best value' for our spends through the competitive bidding process," said Cheryl Hobgood, supply chain strategist for Cox Communications. "The easy-to-use functionality on both the buyer and supplier sides, also greatly increased the efficiency of our sourcing processes."
Cox said it plans to continue to roll out Procuri's solution set to its lines of business during the three-year agreement. The company's core businesses include Cox Communications Inc., Manheim, Cox Newspapers, Cox Television, Cox Radio and AutoTrader.com. With all its businesses combined, the company has 77,000 employees throughout the United States and abroad, and operates more than 300 separate businesses.
"In many ways, Cox Enterprises is ideally situated to take advantage of the buyer efficiencies that Procuri's solutions address. The many purchasing groups within Cox will be better able to manage spend and develop a more efficient sourcing process," said Mark F. Morel, Procuri's president and CEO.