PurchasingNet Launches ePayables

Solution designed to streamline procurement process through invoice processing and payment

Solution designed to streamline procurement process through invoice processing and payment

Red Bank, NJ — May 6, 2005 — Procure-to-pay solution provider PurchasingNet this week debuted its ePayables software, saying that its applications now provide customers with the ability to automate the entire procurement process through invoice processing and payment.

ePayables improves existing accounts payable processes using the PNet Supplier Invoice Portal, which streamlines both purchase order (PO) and non-PO invoice processing, PurchasingNet said.

The solution provider said that the ePayables suite is complimentary to any accounts payable software, and PurchasingNet's solution has been interfaced with major enterprise resource planning (ERP) packages such as PeopleSoft, SAP, Oracle, Lawson, Great Plains and a number of other ERP offerings.

"The launch of our ePayables software positions PurchasingNet as the only e-procurement provider that truly offers a complete procure-to-pay solution, linking a company's procurement, payables and treasury goals," said Tim McEneny, co-founder and CEO of PurchasingNet. "Our clients needed a solution that not only provided e-procurement capabilities, but one that took them through the entire purchasing process through payment."

PurchasingNet said its Supplier Relationship Management tools provide the flexibility to "on-board" both large, sophisticated suppliers and small vendors. Unlike electronic data interchange (EDI) or older solutions that require suppliers to purchase and implement proprietary technology, PurchasingNet said its solution allows suppliers to use their existing technology platforms to send invoices, update catalogs and so on. This allows suppliers to become PurchasingNet enabled in days or weeks, not months or years, the solution provider said.

For more information on the current state of the payment solutions market, see the article "The Analyst Corner: Payment" in the December 2004/January 2005 issue of Supply & Demand Chain Executive.

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