Aberdeen Group Reports Accounts PayableTransformations Deliver Enterprise-wide Value

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Best-in-Class Organizations Leverage Technology to Drive A/P Costs Down

Red Bank, NJ

February 4, 2008 – According to a recent report published by the Aberdeen Group, due to advances in Account Payable technology solutions, the A/P function has been able to provide significant savings and operational efficiencies that deliver enterprise-wide value. The benefits of automation have helped elevate the profile of Accounts Payable, particularly within Best-in-Class organizations.

The study, “Accounts Payable Transformation: Better, Faster, Cheaper,” by Andy Bartolini, VP, Global Supply Management, Aberdeen, leverages insights from Accounts Payable and Procurement professionals from over 150 enterprises and provides details on how automation has played a critical role in driving organizational change.

“Accounts payable is often overlooked as a tactical, back-office function," said Bill Browning, Research Analyst, Aberdeen. "However, more companies are realizing the significant savings and operational efficiencies that can be delivered from A/P through automation and outsourcing services."

Best-in-Class enterprises are excelling in many performance metrics, such as:

• Invoice processing costs 88% lower than all others
• Invoice processing cycle times that are 52% faster than their peers
• 66% higher rates of on-time payments

The “Accounts Payable Transformation” benchmark report recommends that enterprises begin by evaluating their current processes and technology capabilities to establish a baseline and then focus on creating executive support for automation initiatives. “PNet customers are laying the groundwork necessary to help A/P continue to grow as a more strategic function. Automation allows them to put business processes in place to take advantage of early payment discounts, reduce head count, and minimize costly duplicate payments,” stated Tim McEneny, President and CEO of PurchasingNet, Inc.

To obtain a complimentary copy of the report, please click

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About Aberdeen Group, a Harte-Hanks Company

Aberdeen is a leading provider of fact-based research and market intelligence that delivers demonstrable results. Having benchmarked more than 30,000 companies in the past two years, Aberdeen is uniquely positioned to educate users to action: driving market awareness, creating demand, enabling sales, and delivering meaningful return-on-investment analysis. As the trusted advisor to the global technology markets, corporations turn to Aberdeen

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for insights that drive decisions.

As a Harte-Hanks Company, Aberdeen plays a key role of putting content in context for the global direct and targeted marketing company. Aberdeen's analytical and independent view of the "customer optimization" process of Harte-Hanks (Information – Opportunity – Insight – Engagement – Interaction) extends the client value and accentuates the strategic role Harte-Hanks brings to the market. For additional information, visit Aberdeenhttp://www.aberdeen.comor call (617) 723-7890, or to learn more about Harte-Hanks, call (800) 456-9748 or go tohttp://www.harte-hanks.com

About PurchasingNet, Inc.

PurchasingNet, Inc. (http://www.PurchasingNet.com) 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, Liz Claiborne, HBO, EarthLink, Black & Decker, Kroger, and General Mills.

For Details, Contact:

Erinn Tarpey
Marketing Manager

PurchasingNet, Inc.
732-212-1500 x 3173

http://www.purchasingnet.com/PR_2_4_2008.html