NEW
YORK, NY, March 28, 2003 - Emptoris, Inc., the leading
provider of sourcing solutions that support the end-to-end strategic
sourcing needs of Global 5000 companies, today announced that FleetBoston
Financial Corporation, through its subsidiary, Fleet National Bank,
has licensed Emptoris’ ExpenseMap®, which provides excellent
visibility into enterprise-wide spending.
ExpenseMap, a multidimensional, analytical application helps
companies like Fleet (NYSE: FBF) gain insight over corporate-wide
spending. The robust, Web-based software captures financial data
from multiple systems and converts it into rich procurement intelligence,
which can be leveraged to identify and drive efficiency initiatives.
“ExpenseMap provides us with another vital tool to define,
deliver and track our efficiency programs, helping Fleet achieve
operational objectives,” said Alex Zornig, director of
strategic efficiencies, FleetBoston Financial. “The emphasis
of our strategic efficiencies initiative is on non-employee related
expenses and 'practical' actions to reduce costs. Through the
sophistication of the Emptoris product, we know that the choices
implemented through the initiative will not jeopardize our commitment
to best serving Fleet's customers and employees.”
About Emptoris
Emptoris is a leading provider of sourcing solutions that support
the end-to-end strategic sourcing needs of Global 5000 companies.
By implementing the Emptoris Sourcing Portfolio, a suite of
Web-based sourcing solutions, enterprises can quickly deploy
sourcing best practices across the enterprise, automate all
strategic sourcing processes and determine the optimal allocation
of business among suppliers. Key benefits include lower costs,
shorter sourcing cycles and total sourcing program visibility.
Emptoris, a privately held company, is headquartered in Burlington,
Massachusetts.
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