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Noosh Procurement Volume Rises 69% in Fiscal 2001

Friday, March 22, 2002

Press release from the issuing company

  Santa Clara, CA, - March 22, 2002 - Noosh, Inc., a leading provider of collaborative e-Business software solutions, today announced that customer procurement transaction volume through fiscal 2001 grew to $88M from $52M in the similar period in 2000, an increase of 69%. "In 2001 we enjoyed many achievements - our transaction volume rose, we acquired digiGroups, we opened a European subsidiary, and we released Version 4 of Noosh," said Ofer Ben-Shachar, President and CEO of Noosh. "We continue to grow because our technology helped our customers manage more efficiently in a tough economy. Plus, because we have great customers, we are able to continually advance and refine our collaborative procurement technology to support their best practices." "Customers like Noosh's robust mix of collaboration and procurement functionality," continued Ben-Shachar. "Some solutions let you collaborate but can't handle procurement while others let you conduct transactions without addressing the cycle of process steps associated with the goods or services being purchased. Noosh does both." According to the Delphi Group: "The Noosh 4 collaboration platform digitizes cross-enterprise business processes such as project coordination, procurement and customer communications to enhance the flow of business between the enterprise and its trading partners and customers. Noosh 4 manages the entire end-to-end process with all trading partners, helping enterprises achieve reductions in business process overhead, project cycle times, and custom procurement spending." 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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