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Black & Decker Deployment of Print e-Procurement Noted by Aberdeen

Press release from the issuing company

Cirqit’s Technology and Procurement Processes Achieve Cost Savings at Black & Decker WHIPPANY, N.J.--September 26, 2002--Cirqit, a leading procurement service provider (PSP) to the Fortune 2000 for the procurement of printed materials, has been distinguished in an Aberdeen Group report, Best Practices in Online Services Procurement (OSP), for the success of Cirqit’s relationship with The Black & Decker Corporation of Towson, MD. Black & Decker implemented Cirqit’s eProcurement and Supply Chain Management applications, Order-It and Price-It, and related consulting services to manage commerce within the print category for its North American Power Tools and Accessories business and achieved a complete return on investment within six months. Aberdeen Group, a leading market analysis and positioning services firm, examined over 30 OSP implementations, categorizing them into one of three areas, travel, print, and contract labor. It conducted blind evaluations based on multiple metrics including usage, spending volume, process efficiencies, cost savings, and additional qualitative benefits to select enterprises that represented best practice deployments. "As a global consumer products goods company, Black & Decker must maintain a certain level of marketing activities, but it took this responsibility as an opportunity to leverage its print spend to save considerable money in the process," said Christa Degnan, senior analyst, Supply Chain Research at Aberdeen. "Implementing a strategic sourcing and procurement strategy with the help of today’s Internet-based automation technologies enabled Black & Decker to pay less for print, at the same time giving the firm insight into where its money was going, with whom, and why. It can now use this intelligence to make sure it is getting the best overall value from its vendors, making it a more competitive company in the process." Black & Decker engaged IBM Global Procurement Services to assist in the development of a sourcing strategy and eProcurement strategy for the print commodity. Together they selected Cirqit’s technology solution, which resulted in significant hard and soft cost savings. "Cirqit delivers best practices and technology for supply chain management to this complex category and delivers unit cost savings that are significant to our overall eProcurement and indirect sourcing strategy," said Patricia Larkin, Director of Purchasing for the North American Power Tools and Accessories business. Patricia Larkin will highlight Black & Decker’s successful approach to the management of print procurement during a live Aberdeen Online Conference Series (AOCS) web cast on print procurement best practices being held in October. For a copy of the complete research report and for information on the upcoming AOCS, visit www.aberdeen.com or call 617.723.7890 or 800.577.7891. About Cirqit Cirqit is a software and services company that assists organizations by reducing the price of printed materials and related services. Cirqit leverages software and consulting services to create and execute a comprehensive print procurement strategy. Fortune 2000 companies use Cirqit’s blend of eProcurement automation tools, supply base analytics, and procurement expertise. Cirqit delivers this powerful offering to the market in a fully hosted, web-based service, which eliminates the need for customers to invest in new technology infrastructure. Cirqit’s headquarters is located in Whippany, N.J. The company’s sales offices are located in Chicago, Seattle, and New Jersey. Cirqit can be found on the Web at www.cirqit.com. About Aberdeen Founded in 1998, Aberdeen Group is a leading IT market analysis and positioning services firm that helps Information Technology vendors establish leadership in emerging markets. The firm provides IT market intelligence, positioning, and market acceleration services to established and start-up technology companies. Aberdeen’s consultants provide up-to-the-minute global IT market insights in more than 25 IT market segments. Research practices focus on emerging market opportunities, market growth rates, important industry trends, and customer buying patterns. The firm also helps clients to identify new market opportunities, enter those markets successfully, and accelerate the adoption of new technologies. Headquartered in Boston, Massachusetts, Aberdeen has research and consulting divisions in Palo Alto, California; Fort Collins, Colorado; and Amsterdam, the Netherlands. Aberdeen is accessible via the Web at www.aberdeen.com.