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Noosh Reports Procurement Volume Grew 128% from Last Year

Wednesday, October 31, 2001

Press release from the issuing company

  PALO ALTO, CA., - Noosh, Inc., a leading provider of collaborative e-Business software solutions, today announced that customer procurement transaction volume through the first three quarters of fiscal 2001 grew to $64M from $28M in the similar period in 2000, an increase of 128%. "During the current downturn, more and more companies are seeking low-risk ways to cut costs and improve their bottom line. Our customers continue to achieve documented spend savings and cycle time reductions with Noosh. And they do it in weeks, not months or years, making Noosh an easy choice for today's procurement savings initiatives," commented Ofer Ben-Shachar, President and CEO of Noosh. According to the Patricia Seybold Group, "It is worth noting how Noosh is able to exploit its collaborative process management to enhance the procurement function. This happens in at least two ways. First, the collaboration software improves the procurement process enough to encourage and enable buyers to invite multiple bids, which can achieve very significant cost savings. Second, because Noosh manages all the data used in a project, it can capture and archive that data and apply it later for supplier management and other business improvements." Noosh customers have cut process costs and cycle times in half and have reduced spend by 20%. To obtain a copy of a Noosh customer case study, please see http://www.noosh.com/solutions/literature.asp.

 

 

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