National Tool Manufacturer Installs Purchase-to-Pay System from Verian Technologies
Charlotte, NC - March 28, 2006 - When the executive team at Sandvik Coromant, a business sector within Sandvik Tooling, decided to upgrade all their current systems, the purchasing software was one of the first on the list to be replaced. With only 9 months to find and install a system, the group at Sandvik began its search for the right solution. Sandvik found the system - ProcureIT, Verian Technologies' flagship purchase-to-pay automation solution.
At the beginning of the search, Sandvik had specific requirements:
- Automate requisitioning and approval - the previous system was purchase order software that required the requisitions to be manually entered into the system after they were manually routed from approval;
- Interface with Sandvik's payables system;
- Browser-based; and
- Include a dynamic reporting capability to allow end users to create and run their own reports.
Sandvik found ProcureIT to meet all those requirements, plus it had a single database to store all spending data. The single database proved to be unique and a compelling selling point for Sandvik - a company with several different subsidiaries that all use the same purchasing department. Permission settings in the single database feature of ProcureIT restrict the subsidiaries from seeing other groups but allow Purchasing to get a high-level view of all purchasing activities to help in the negotiation of contracts and elimination of maverick purchasing.
"Overall Verian's system not only met our requirements but also provided us with the scalability and flexibility that we needed from a purchasing system," said Dave Westerduin, Purchasing Manager for Sandvik Tooling. "ProcureIT required no complex hardware to get started, and the rollout has been extremely easy because it's a browser-based product. This has been a huge benefit since we no longer require the assistance of the IT department each time we want to bring another group up on ProcureIT."
"We've also eliminated a large amount of duplicate data entry since we are able to train the requisitioners on how to use ProcureIT to create their own request and send it for approval," continues Westerduin. "ProcureIT has made AP data entry easier - our process requires less paper and time than before. Also, the reporting features are giving us the ability to run reports at month's end to check on accruals, supplier performance and more."
Sandvik plans to continue its rollout of ProcureIT to include vendor punch-outs to reduce the effort of keeping vendor catalogs up-to-date, as well as automate processing of non-PO invoices with Verian's Invoice Manager module.
"We are thrilled to have Sandvik join the Verian family," said Tehseen Ali, President & CEO of Verian Technologies. "Their addition as a customer was particularly exciting because we replaced the system of a competitor. Sandvik clearly understood how Verian offers a unique solution with compelling value."
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For more information, contact:
Anna Rushing, PR Coordinator
1-704-602-3372 (office)
About Sandvik Coromant
Sandvik Coromant, a business sector within Sandvik Tooling, provides value-driven tooling solutions for specific metalworking needs in the automotive, aerospace, die-and-mold, and general engineering industries. The company boasts the strongest application support team in the industry, delivering local solutions from specialists who consider customer success their success. Sandvik Tooling is a high-technology engineering group with advanced products and world-leading positions in selected areas - tools for metalworking, machinery and tools for rock excavation, stainless steel, special alloys and resistance heating materials and process systems. The Group has 37,000 employees in 130 countries, with annual sales of approximately $5.5 billion. Operations worldwide comprise three business areas: Sandvik Tooling, Sandvik Mining and Construction and Sandvik Specialty Steels. The Sandvik US operations represents all three business areas with about $1.5 billion in annual sales.
About Verian Technologies
Verian Technologies helps mid- and large-sized organizations control spending by providing easy-to-use solutions that automate procurement, invoice processing, employee reimbursements and asset management -- capturing all expense data in a single database for analysis. ProcureIT, Verian's product suite, is one of the most widely adopted "procure-to-pay" systems among North American organizations. Verian was founded in 1996 and is headquartered in Charlotte, NC. The company's clients represent industries such as banking, insurance, healthcare, industrial services, construction, retail and the public sector. Clients include Boeing, Yale University, Allstate Insurance Company of Canada and GNC Corp. For more information on Verian Technologies, visit http://www.verian.com.
ProcureIT is a registered trademark of Verian Technologies, Inc.
