Charlotte,
NC (April 29, 2003)- Verian Technologies announced today
a comprehensive strategy that will direct the company's
development of software and services for organizations with
annual revenues between $100 million and $2 billion. Verian
is focusing on reducing those companies' expenditures related
to the procurement, management and life cycle of goods,
services, assets and reimbursable expenses.
Called
Spend Management, the goal of the strategy is to provide
software that reduces an organization's overall spendby
greater than 5 percent annually.
The
cornerstone of the strategy is Verian's flagship product,
ProcureIT. ProcureIT is a 100-percent Web-based system that
helps companies cut costs by reducing routine manual effort
and optimizing inventory and supplier commitments. ProcureIT
includes modules that automate purchasing, inventory, assets,
and travel & expense management.
"Financial
executives have told us that they're dissatisfied with their
level of control over who's buying what from whom," said
Tehseen Ali, Verian's CEO."By adopting a Spend Management
solution, those executives will be able to cut costs by
enforcing corporate spending policies, negotiating better
deals with suppliers, and - for the first time - having
aggregated data for meaningful expenditure analysis."
Organizations
using ProcureIT to manage their corporate spend range from
BB&T Corporation, the nation's 13th-largest bank and
Finning International, a 75-branch Caterpillar dealership
based in Edmonton, Canada, to Radiologix, operator of 114
free-standing radiology centers in the U.S. ProcureIT currently
includes several elements of the Spend Management strategy.
Others, such as a vendor portal to facilitate communication
with suppliers, are currently in development or beta testing
and will be available later this year.
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For more information, contact:
Tommy Benston, Director of Marketing & Communications
1-704-972-4910 (office)
1-704-575-4649 (cell)
About
Verian Technologies
Verian Technologies provides 100% web-based spend management
solutions to mid-sized organizations. Its technology is
based on its suite of solutions called ProcureIT. ProcureIT
encompasses all aspects of spend management including: procurement,
materials management, asset management, and travel & expense reimbursement. ProcureIT enables organizations to
reduce their organizational spend, automate manual tasks
and reduce on-hand materials and commitments. As a result,
Verian Technologies' clients are able to reach efficiency
faster and realize a strategic competitive advantage, as
well as a rapid return-on-investment. For more information
on Verian Technologies, visit http://www.verian.com
