Liz Claiborne Inc. Streamlines Procure-to-Pay Process With PurchasingNet, Inc.
Red Bank, NJ — (June 27, 2005) — PurchasingNet, Inc. announced today that Liz Claiborne Inc. (NYSE: LIZ) has completed Phase One of their PNet Procure-to-Pay software implementation. In this phase of the project, Liz Claiborne replaced their eProcurement application with PurchasingNet’s highly scaleable Web-based eProcurement suite.
Liz Claiborne Inc. designs and markets an extensive range of fashion apparel and accessories for women, men, teens, children and infants. The Company also markets fragrances for women and men. The more than 38 brands in the Liz Claiborne Inc. portfolio are available at over 30,000 points of sale worldwide. It had annual revenues of $4.6 billion in 2004 and has 14,500 employees throughout the world.
“Our vision was to select a single vendor to partner with who could provide not only best of breed eProcurement software, such as Requisitioning, Purchasing, and Receiving, but could also address Invoicing, Settlement, and Discount Management,” states Joe Monahan, group director of Financial Services at Liz Claiborne Inc. “It will also allow us to offer our suppliers visibility and flexibility in managing their receivables with us.”
After a comprehensive search of the available solutions, Liz Claiborne selected the PNet eProcurement and ePayables suites. “We had an aggressive timeline to get a system up and running,” recalls Monahan. “The PurchasingNet team was able to meet those timelines and our expectations.” The PNet eProcurement deployment took less than three months [from start to finish]. The balance of the implementation is targeted for completion in 2005.
About PurchasingNet, Inc.
PurchasingNet, Inc. is a leading provider of Web-based eProcurement and ePayables software to mid and large sized companies. The company has over 1,400 customers in Financial Services, Retail/Consumer Products, Professional Services, Media/Publishing and a variety of other industries.
Founded in 1983, PurchasingNet has focused exclusively on the development and implementation of Procurement and Payables applications since inception. In addition to building an extensive, blue-chip client base, PurchasingNet possesses deep domain expertise in Purchasing and Payables business processes. The average length of service at PurchasingNet is 8 years per employee.
PurchasingNet’s customers include Countrywide Financial, US Bank, Navy Federal Credit Union, American Financial Group, Skadden Arps, HBO, EarthLink, Black & Decker, Kroger, and General Mills.
For Details, Contact:
MRB Public Relations
732-758-1100 Ext. 103
125 Half Mile Rd.
Red Bank, NJ 07701
732.212.1500 (v) 732.212.1215 (f)