NEW
YORK, NY, June 17, 2003 - Emptoris, Inc., a leading provider
of sourcing solutions that support the end-to-end strategic sourcing
needs of Global 5000 companies, today announced that Owens Corning,
the glass fiber inventor and industry leader, will use Emptoris’ ExpenseMapSM
solution to create a strategic savings program based on new visibility
into global spending.
By using ExpenseMap to track and analyze worldwide spend, Owens
Corning's procurement team can now better manage suppliers, reduce
costs and easily monitor compliance with spending policies and
contract terms. For the first time, consolidated, standardized
information is available at the click of a mouse to help the
company negotiate savings based on total, global spend, and reduce
the frequency of off-contract buying.
“One of the best ways to improve the bottom line is to
control the money going out the door to suppliers,” said
Jim Hawkins, global e-sourcing leader, Owens Corning. “Knowing
exactly how, where, and with which vendors Owens Corning does
business is the crucial first step - one that Emptoris is helping
us to master.”
With global operations, multiple buying channels including e-procurement
and purchasing card systems, and often hundreds or thousands
of people making buying decisions, it's challenging for large
companies to realize the best price for every purchase. As a
result, a typical Fortune 500 company leaks millions of dollars
each year to sub-par procurement.
ExpenseMap is the industry's first fully managed spend analytics
solution that quickly reveals a company's spending patterns,
enhancing visibility around contract compliance and supplier
relationships. The solution's deep profiling allows companies
to target specific procurement and savings initiatives for continuous
improvement; in most cases, recommended programs can be implemented
and the results realized in a few weeks.
ExpenseMap is part of Emptoris' suite of solutions that helps
companies save money across the entire purchasing cycle: ExpenseMap
delivers deep procurement intelligence and analysis, RFx software
and services establish optimal sourcing strategies and secure
best-in-class contracts, and category-specific Marketports provide
online marketplaces and compliance tools.
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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