Procuri Touts Momentum with Q1 Customer Signups

Points to dozen new customers, high retention rate; rolls out new analytics offering with SAS, Austin-Tetra

Points to dozen new customers, high retention rate; rolls out new analytics offering with SAS, Austin-Tetra

Atlanta  June 9, 2005  e-Sourcing veteran Procuri is touting its first quarter results, pointing to a dozen new customer agreements signed in Q1 and the launch of a new spend analytics solution.

The 12 new customers that signed up to use Procuri's Web-based, "on-demand" solutions for enterprise supplier and contract management helped put the provider's total client base above 300, Procuri reported. In addition, the provider said that it has maintained a high customer loyalty and retention rate.

"Our customers continue to be highly satisfied with Procuri's solutions and support," said Mark F. Morel, Procuri's president and CEO. "Procuri boasts the highest loyalty and retention rate in the industry, an achievement that has been validated by respected industry analysts."

Procuri also has released its TotalAnalytics solution for data cleansing, supplier and commodity classification, data enrichment, spend analysis and data refresh. The components of TotalAnalytics are based on SAS technology and Austin-Tetra content and services, and the offering builds on Procuri's ongoing relationship with SAS and Austin-Tetra.

In addition to TotalAnalytics, Procuri has unveiled its expanded supplier and contract management solution following its acquisition of Contract Management Solutions, Inc. The suite is modular, and companies can implement different modules at different times, depending on their evolving requirements, Procuri said.

The suite now includes TotalSupplier, to discover and evaluate suppliers, streamline supplier portfolios and monitor and improve supplier performance; TotalSource, to plan and manage events, negotiate pricing and terms, and optimize results to make best-value sourcing decisions; TotalContracts, to efficiently manage a variety of contracts enterprise wide to increase operational performance, ensure compliance and minimize risk; as well as TotalAnalytics, to rationalize and normalize data and prioritize spend categories for enhanced supplier relationships.

Finally, Procuri said that it recently was named one of Atlanta's fastest-growing privately held company by the Atlanta Business Chronicle. The Chronicle annually publishes a listing of 50 companies distinguished by their revenue and employee growth within the community. Procuri was also cited as the top venture capital deal in Q1 2005, with its $12.5 million Series B up-round led by current investor Insight Venture Partners and new investor Advent International.

Additional Articles of Interest

— Companies with advanced sourcing and procurement strategies are using spend analysis tools to drive bottom-line savings. Now it's time to take spend analytics to the next level. Read more in "Supercharging Spend Analytics," in the April/May 2005 issue of Supply & Demand Chain Executive.

— For more information on best practices for spend analysis, see the following articles:

— 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.