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PaperExchange Launches e-Tool for Online Procurement Management

Thursday, January 18, 2001

Press release from the issuing company

Boston, MA, – PaperExchangeSM, the global e-marketplace and business solutions provider for the pulp and paper industry, today announced its launch of PEx ProcurementManager, a new online procurement management solution for buyers of pulp and paper. PEx ProcurementManager streamlines all aspects of the procurement process, from the contract negotiation stage, through ordering and tracking and ultimately to electronic funds transfer. PEx ProcurementManager makes the whole range of procurement activities more cost-effective and efficient, making many of today’s complicated and time-consuming offline procurement systems obsolete. It features four distinct components, including: 1. An online order pad that facilitates order entry and real-time order status inquiry via a standardized toolkit. This eliminates several manual steps, including repeated faxing of purchase orders, acknowledgements and invoices. 2. An online negotiation tool that includes features for enabling buyers to distribute quotation requests to preferred suppliers. 3. The management of contracts and order settlement. 4. Integration of buyers’ and sellers’ computer systems to eliminate several manual procurement steps. PEx ProcurementManager was created based on feedback from PaperExchange members who deal in long-term relationships and ongoing order processes. “We learned from our customers that they place a very high premium on being able to improve the effectiveness of their procurement processes,” said Bob Brenner, Chief Executive Officer of PaperExchange. “We developed PEx ProcurementManager in direct response to their needs. Now, both buyers and sellers gain more productive, closer relationships while saving money.” Other benefits of PEx ProcurementManager include: * More accurate and timely information on prices and terms * Faster, clearer negotiations * Ability to buy from selected trading partners * Online order releases * Improved order accuracy * Real-time tracking and reporting “We are excited about the benefits PEx ProcurementManager’s enhancements bring to our customers,” said Brenner. “This solution, and others that are either in place or in our pipeline, will continue bringing our partners closer together in their existing relationships while helping them to create new ones.”

 

 

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