Science & Technology
Science and Technology
Science and Technology 
Fri, March 20, 2009
Thu, March 19, 2009
Wed, March 18, 2009
ePlus inc.: ePlus Announces Competitive Spend and Expense Analysis Solution for CFOs and CPOs
HERNDON, VA--(Marketwire - March 18, 2009) - ePlus inc. (
Spend+ provides CFOs with a method of analyzing spend compliance to gain visibility into corporate spending patterns for specific periods of time, business units, and spend category. Reporting elements such as contract compliance, budget compliance, and Travel and Expense policy conformance are available through the dashboards, and detailed transactional data is readily available for further analysis.
For the CPO, Spend+ analyzes purchase transactions across multiple providers, and presents them in both dashboard and detailed analytical views. Dashboard views are easily configured to represent opportunity, compliance, and productivity metrics. Analysts can generate their own queries simply by dragging and dropping data elements into view. Spend+ will help CPOs and buying organizations to identify how much is being sourced off contract, supplier and business unit conformance to existing contracts, opportunities to consolidate commodity spend across suppliers, and potential areas that require further investigation. Detailed transactional records are readily extractable and exportable to other applications, eliminating the need to generate additional reports and perform further analysis required by conventional methods.
"Aberdeen research has shown that best-in-class performance starts with alignment and dialogue between procurement and finance," said Andrew Bartolini, vice president of Global Supply Management Research at Aberdeen Group. "The leaders of the respective functions, the CFO and the CPO, benefit from the development of a platform that promotes open communication, visibility, and precise alignment of goals and objectives."
According to Aberdeen's Spend Analysis research, "Working Too Hard For The Money(1)," by utilizing improved compliance tools and processes, an average company adds 34% of its spend not already managed to its spend management practice. The same report shows that each new dollar of spend brought under management generates 5-20% in cost savings. For example, for each $10 million that a company spends, an average of $3,400,000 may be brought under management and could generate potential new savings of $170,000 to $680,000 annually.
"Spend and expense analysis is essential for corporations to maintain their operating margins and remain competitive," said Ken Farber, president of ePlus Systems. "Having a solution to highlight spending anomalies can be an invaluable tool for CFOs and CPOs so quick action can be taken to correct spending patterns."
"This solution can be used on behalf of the client, by ePlus consultants, or third party analysts to provide spend and supplier profile recommendations to end users. In this way, we are not only delivering advanced analytics, but also the recommendations based on the analyses that are generated," Mr. Farber added.
Spend+ is competitively priced, and is typically 50% of the cost of equivalent solutions. Prices start at $5,000 per month for a SAS70, SaaS, hosted solution. Enterprise licenses are also available at discounts of up to 50% over competitive products, including installation and customization. Prices are subject to change and are based on specific customer requirements.
To learn how to get a complimentary spend analysis or preview these new solutions, [ click here ] or contact [ software@eplus.com ].
About ePlus Systems, inc.
ePlus Systems, inc., a wholly owned subsidiary of ePlus inc., develops and markets [ enterprise supply management ]applications and services to meet the needs of supply management and product content management for customers across all industries. The combination of software and services gives customers the choices and tools to optimize their spend, including supplier enablement, catalog content management, eProcurement, spend analytics, document management, and asset management.
ePlus inc. has more than 650 associates in 20+ locations serving federal, municipal, and commercial customers. The Company is headquartered in Herndon, VA. For more information, visit [ http://www.eplus.com ], call 888-482-1122, or email [ info@eplus.com ].
ePlus®, Spend+, and other ePlus products referenced herein are either registered trademarks or trademarks of ePlus inc. in the United States and/or other countries. The names of other companies and products mentioned herein may be the trademarks of their respective owners. Subject to one or more of the following: U.S. Patent Nos. 6,023,683; 6,055,516; 6,505,172; 6,892,185; 6,182,127; 6,510,459; 7,047,211; 7,254,581; and corresponding foreign patents and patents pending.
Statements in this press release that are not historical facts may be deemed to be "forward-looking statements." Actual and anticipated future results may vary due to certain risks and uncertainties, including, without limitation, possible adverse effects resulting from the recent financial crisis in the credit markets and general slowdown of the U.S. economy such as our current and potential customers delaying or reducing technology purchases, increasing credit risk associated with our customers and vendors, reduction of vendor incentive programs, and restrictions on our access to capital necessary to fund our operations; the existence of demand for, and acceptance of, our services; our ability to adapt our services to meet changes in market developments; the impact of competition in our markets; the possibility of defects in our products or catalog content data; our ability to hire and retain sufficient personnel; our ability to protect our intellectual property; our ability to consummate and integrate acquisitions; our ability to raise capital and obtain non-recourse financing for our transactions; our ability to reserve adequately for credit losses; and other risks or uncertainties detailed in our reports filed with the Securities and Exchange Commission. All information set forth in this release is as of the date of this release. ePlus undertakes no duty to update this information.
(1) Aberdeen Group, "Spend Analysis," August 2007