Procuri Touts Record Quarter

Points to increased bookings for Q2 and new customers added since the end of last year

Points to increased bookings for Q2 and new customers added since the end of last year

Atlanta — August 22, 2005 — On-demand e-sourcing specialist Procuri today touted its second quarter results, pointing to increased bookings for Q2 and new customers added since the end of last year.

Atlanta-based Procuri, which offers a Web-based, "on-demand" sourcing solution, said it had seen a 250 percent increase in total bookings, or value of all contracts signed, from Q1 2005 to Q2 2005, as well as a 200 percent increase in total bookings through June 2005, when compared to the same period the previous year.

In addition, the company said that it has signed up 131 new customers since year-end 2004, which includes the acquisition of CMSI, for a total of over 300 customers. The e-sourcing provider said that its average contract length is 43 months.

Industry expert Richard Waugh, vice president at Aberdeen Group, noted, "On-demand users report up to 50 percent lower up-front solution costs, faster implementations and ongoing operational costs two to three times lower than with installed software." Procuri said that its quarter further validates Waugh's statistics and research.

The Demand for On-demand

Procuri said that it enjoys the highest customer loyalty and retention rate in the industry, with its customers choosing to stay with the provider for the long term. "With an average contract length of over three years, companies select Procuri's functionality over its competitors and realize significant return-on-investment year after year," the solution provider said in announcing its results.

For the past quarter, Procuri said it signed up 19 new customers, including Brookmeade Group, Industriaplex, Tandem Health Care System, Wates Group Limited and ZANTAZ. Also, 22 companies renewed or expanded their contracts with Procuri, including Autoliv, Crane Co., Fortune Brands, Geisinger System Services, Halliburton ESG, McGraw-Hill Companies and Rio Tinto Group.

"Once again, Procuri has achieved record quarterly results," said Mark F. Morel, Procuri's president and CEO. "We focused on exceeding our earlier impressive results by improving already high customer satisfaction and increasing interest among prospective customers."

Morel said that the company continues to surpass its revenue projections quarter-after-quarter and, as it moves into the second half of the year, is looking forward to continued customer and financial gains.

Procuri will be holding its two-day user conference, Empower 2005, September 12-14 at the Grand Hyatt Atlanta.

Additional Articles of Interest

Tax and supply chain management are often considered to be two distinct disciplines, but this view misses an opportunity to leverage the business benefits achieved by an automated and integrated tax department. For more insights, read "Transaction Tax Management: A Seat at the Supply Chain Table," an exclusive.

— For more information on the current state of the sourcing and procurement markets, see the articles "The Analyst Corner: Sourcing" in the June/July 2004 issue of Supply & Demand Chain Executive, and "The Analyst Corner: Procurement" in the August/September 2004 issue of the magazine.

— For more information regarding "on demand" computing models, see the article "Cutting Through the 'On Demand' Hype," the Net Best Thing column in the December/January 2004 issue of Supply & Demand Chain Executive.