ProcServe Unveils OTIS; its ‘out-of-the-box eProcurement system’

8th JUNE 2010, LONDON, UK - ProcServe, a leading provider of collaborative procurement and electronic trading solutions, today announced the general availability of its new easy-to-use, quick and simple to implement eProcurement solution, OTIS. OTIS is a major leap forward in eCommerce in how it simplifies electronic trading between buyers and suppliers.

OTIS provides immediate access to eProcurement without system integration costs, time delays and additional IT infrastructure investment. The intuitive and easy-to-use interface of OTIS allows organisations of every size to buy what they need easily online and manage the procurement process with their suppliers completely electronically in a safe-and-secure environment.

OTIS comes pre-connected to the ProcServe Trading Network which means organisations can easily access the rich catalogue content and trade electronically with suppliers on the network from Day One. These catalogues range from basic commodities to complex products and services and are maintained by suppliers.

Some of the features and functionality unveiled in OTIS include:

• An inbox and outbox style interface enabling users to manage all procurement documents similar to how they manage their emails
• Intelligent linking of related documents providing a simple, visual audit trail for each procurement transaction
• Simple workflow for purchase order (PO) approval
• Full integration with the ProcServe Catalogue Search provides access to online catalogue content and supplier PunchOut websites
• Simple ‘free text' ordering and ‘Request for Quote' functions for procurement of non-catalogue items
• Automatic electronic transmission of POs and quotation requests to suppliers using the ProcServe Transaction Exchange
• Suppliers access quotation requests and POs online and respond electronically with their associated electronic quote or invoice

"We are really excited about OTIS as it offers a low cost and immediate way for organisations to get going with eProcurement. In these uncertain times, affordability and speed are essential for organisations using innovative solutions to give them a competitive edge and improve the way they do business with suppliers and customers. By reducing the effort to adoption, we can easily extend the reach of companies who need to trade electronically - through our network," said Veera Johnson, CEO of ProcServe.

"The return on investment for OTIS is rapid in comparison with conventional eProcurement systems. There is no IT infrastructure investment, a low set-up cost and flexible licensing options to further accelerate the ROI. Customers can upgrade their level of eProcurement integration when they are ready to make that investment without losing the benefits they have gained by doing business through the ProcServe Trading Network."

ProcServe will be demonstrating the new capabilities of OTIS in a complimentary webcast on Tuesday, 22nd June 2010 at 12pm (BST). To register your interest, please email info@procserve.com.

Media Contact:
Cora Byrne, ProcServe
T: +44(0)7889 996 345
E: cora.byrne@procserve.com  

About ProcServe
ProcServe provides fast, flexible and secure electronic marketplaces and trading connectivity solutions. ProcServe's hosted, custom-branded solutions provide customers with the unique ability to leverage a software-as-a-service solution and maintain their own uniquely branded and configured marketplace. Customers enjoy a faster solution set up, lower cost of maintenance, and a secure environment. ProcServe delivers Zanzibar, OPEN and xchangewales on behalf of the UK Public Sector. For more information, please visit www.procserve.com.