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Nestle Selects Cirqit For The Management Of Print Spend

Press release from the issuing company

WHIPPANY, N.J.-May 13, 2003- Cirqit, a leading provider of eProcurement and Price Management software for the print spend category, announced today that it signed an agreement with Nestle.  Under the terms of the agreement, Nestle Chile, Nestle Argentina and Nestle Peru will outsource all print related procurement, sourcing, and supply chain management activities to Cirqit.  Similar to many other global organizations, the print procurement function was autonomously maintained by each country in which Nestle operated.  Cirqit places staff on-site in each country with category expertise, best practices, and software applications to work with the local Nestle staff to meet the unique requirements of print procurement and supply chain management.  Cirqit assumed management over the print procurement process for Nestle Chile last fall and has already delivered 23% hard dollar savings over the cost of previously procured materials and an optimized supply base capable of meeting the local and corporate business requirements.  Nestle Peru will transition the print procurement function over to Cirqit at the end of this month.  Nestle Argentina will adopt Cirqit's software and services shortly thereafter. "This business process outsourcing contract with Cirqit allows Nestle to meet their corporate cost savings goals for each country, while remaining focused on core objectives and competencies," said Cesar Gonzalez, Supply Chain Director at Nestle Chile.  "We chose Cirqit based on their ability to deliver an end-to-end spend management solution for the print category.  We are already experiencing tremendous savings over previous price paid."