Perfect Commerce Receives $30 Million Growth Financing

New funding to aid global expansion, R&D at on-demand supplier relationship management solution provider

New funding to aid global expansion, R&D at on-demand supplier relationship management solution provider

Kansas City, MO — November 29, 2005 — Supplier relationship management specialist Perfect Commerce has received $30 million in new funding, bringing in a new investor and additional financing to help the company accelerate its global expansion and further develop its offerings.

Based in Kansas City, Perfect offers "on-demand" supplier relationship management (SRM) solutions and operates The Open Supplier Network (The OSN), which it calls the world's largest independent supplier network. Apax Partners, a private equity investment group, led the new funding round, investing $20 million. Previous investors also participated in the financing for an additional $10 million.

"This financing led by Apax Partners provides Perfect Commerce with capital that will allow the company to further enhance its service of clients, as well as execute an aggressive growth strategy involving accelerated delivery of new products and global expansion," said Sandy Kemper, chairman and CEO of Perfect Commerce.

Bill Zollars, CEO of Perfect customer Yellow Roadway, suggested that the new funding ultimately would benefit his company. "This additional capital positions Perfect Commerce to continue meeting our growing supply chain needs in the United States and throughout the world."

Perfect also pointed to its customer Honeywell Building Solutions, which has 3,500 users across 17 countries and seven languages working with the Perfect solution. "Our supply chain has been scoring big wins since implementing the Perfect solutions in 2002," said Paul Towne, vice president of global sourcing and procurement at Honeywell Building Solutions. "We have lowered the cost of materials and services, increased the productivity of procurement operations, reduced inventory and improved the payables process. The financial impact is outstanding."

Tim Minahan, chief services officer with technology consultancy Aberdeen Group, said that Aberdeen research has validated the value proposition of on-demand SRM applications, including faster implementation cycles and time-to-value, lower risk and lower total cost of ownership (TCO).

"Our research also shows that effective supplier enablement is vital in realizing the full potential value of e-procurement investments and driving greater spend under management," Minahan said. "With its suite of On-Demand applications and The OSN, Perfect is well positioned in the market to capitalize on these trends."

Additional Articles of Interest

— To go the distance in business you need to take a disciplined approach. Supply & Demand Chain Executive offers key best practices for making your supply chain hum in the article "7 Habits of Highly Efficient Supply & Demand Chains," the cover story in the April/May 2005 issue of the magazine, featuring an interview with supply chain guru Jim Tompkins of Tompkins Associates.

— How can you beat the trends and lower your less-than-truckload costs, even in a seller's market? For a guide to help you get started, read the article "LTL Sourcing: Success for Buyers in A Seller's Market."

— Lean is still a top priority for many organizations, and now leading enterprises are applying lean principles to the supply chain. Read about the challenges in building a "lean supply chain" in "The Value of Being Out-of-stock (Almost) Everywhere," the Final Thoughts column in the April/May 2005 issue of Supply & Demand Chain Executive.