PurchasePro Reports March e-Source Results; Sees $193 Million Cross Network During Month
PurchasePro Saves Companies $51 Million or 32 Percent in March
LAS VEGAS, April 1, 2002 (PRIMEZONE) -- PurchasePro (Nasdaq:PPRO - news), today reported that 135 reverse auctions were held using e-Source, the company's strategic sourcing solution, in the month ended March 31, 2002, compared with 201 auctions held in February.
Low bids in the March auctions totaled $110 million, compared with $37 million in February, with opening, or high bids totaling $161 million, compared with $75 million in the prior month. The market spread or implied savings in March, between total low and high bids was $51 million, or 32 percent, compared with $38 million or 51 percent in February.
PurchasePro also reported today that the number of buying organizations in March was 12, compared with 11 in February. The company said March strategic sourcing events attracted 2,663 bids from 672 suppliers, compared with the 2,424 bids posted in February from 794 suppliers. PurchasePro also announced that 30,000 purchase orders, valued at $32 million crossed its commerce network in March, compared with 29,000, valued at $29 million in February.
Among the products purchased through e-Source in March included uniforms, consulting services, coffee service, computer printers and peripherals, copiers, pallets, fiber optic cable, chemicals, high-speed diesel oil and ferric chloride.
PurchasePro's sourcing process has been proven repeatedly throughout organizations worldwide, generating procurement efficiencies and price reductions that have resulted in hundreds of millions of dollars of savings. e-Source goes beyond reverse auctions and provides customers with a complete sourcing solution and automated procurement process, enabling buyers to quantify spend analysis, qualify additional suppliers, enhance RFI and RFQ management, cultivate competitive bidding and negotiations and manage supplier relationships more effectively than before. |
