Verian

Advanced Requisitioning Process Saves $61.5 Million

April 13th, 2011 | No Comments

April 13, 2011 – Charlotte, N.C. – A new three-tier requisition search technology, developed by Verian Technologies, enabled a global shipping company to save $61.5 million in just nine months.

Verian’s requisition technology uses a product attribute hierarchy that guides requisitioners to request idle inventory and items on attractive national contracts before other goods or services.  The first tier allows users to search through existing inventory in any of the shipper’s 40,000 locations, taking advantage of idle, unused goods.

If the item is not found in existing inventory, users are then directed to the second tier: an online catalog populated with goods and services from over 114 different vendors. The catalog aggregates over a million products, descriptions and prices. Every item has negotiated pricing built in, ensuring that national contracts are being honored and utilized. Smart search technology allows users to comparison shop and even filter search results by green attributes including Energy Star and Recycled.

If, for some reason, users cannot find what they need in existing inventory or the online marketplace, they are funneled to a third tier: off-catalog “free-form” requests. To ensure compliance with purchasing policies, off-catalog requests are reviewed by an internal demand management team. In less than a year, the team reviewed 100,000 off-catalog requests: forty percent of the requisitions were issued warnings and twenty two percent were denied. Warnings and denials are accompanied with suggestions on how to fulfill their request in a more cost-effective manner.

The efforts of the demand management team, combined with the advanced requisition technology, reduced the shipper’s off-catalog spend by twenty two percent, amounting to savings of $61.5 million in just nine months. The bulk of the savings were gained from steering off-catalog purchases back to national contracts.

“The Verian system empowers users to make the best buying decision with every requisition,” said Tehseen Ali Dahya, President and CEO of Verian Technologies. “And the numbers prove they are making the right decisions.”

About Verian Technologies

Verian Technologies helps mid- and large-sized organizations reduce costs and increase efficiency with intelligent, easy-to-use solutions that automate the entire purchase-to-pay process including procurement, invoice processing, employee reimbursements and asset management — capturing all spend intelligence in a single database for analysis. Verian was founded in 1997 and is headquartered in Charlotte, N.C. The company’s clients include Macy’s, Recreational Equipment Inc. (REI), Allstate Insurance, PETCO and General Nutrition Centers (GNC).

Media Contact
Adam C. Slick
Marketing Communications Manager
Verian Technologies
704-971-6992
www.verian.com