Broader Offering and Comprehensive Services Provide New Value for MINDFLOW Customers
Burlington, MA – July 20, 2006 – Emptoris, Inc., a leading provider of enterprise supply and contract management software, today announced it has completed the acquisition of MINDFLOW Technologies, a leader in inbound supply chain planning and sourcing optimization. The acquisition is the latest in a series the supply management software company has made as it continues its market-leading growth and expansion.
In addition, the company announced the launch of a new offering, Overdrive, to help customers drive adoption and accelerate the business impact through stronger sourcing program management. The company also reported that many MINDFLOW customers have already begun transitioning to the Emptoris platform – and that MINDFLOW customers will continue to have their solutions fully supported by Emptoris.
“Our transition to the Emptoris platform is proceeding exceedingly well thanks to the high-level of executive attention and spirit of collaboration Emptoris brings to the conversion,” said Dennis Clabby, Vice President of Purchasing, Independent Purchasing Cooperative (IPC), the purchasing arm for Subway restaurants in North America and a strategic MINDFLOW customer. “The company’s market leadership and comprehensive suite of solutions give us confidence that the acquisition will continue to serve our benefit.”
(In related news, Emptoris today announced that it has recorded 68% year-over-year sales growth in the first half of 2006.)
Delivering Value to Customers
“Emptoris is all about harnessing innovation to drive positive business impact for its customers,” said Avner Schneur. “Our solutions empower our customers to more efficiently and accurately manage their businesses – and ultimately to accelerate their profitable growth.”
With the acquisition, MINDFLOW customers immediately benefit from access to Emptoris’ full supply management suite of solutions, as well as its rich domain expertise. Emptoris offers the broadest solution suite with deep functionality across the entire supply and contract management process including solutions for spend analysis, sourcing, contract management, compliance, and supplier performance management.
Currently, over 160 customers across 50 countries use Emptoris solutions to analyze over $8 trillion of spend, to source over $110 billion of products and services, to manage contracts covering $65 billion in spending, and to deliver approximately $14 billion in bottom line savings.
Overdrive by Emptoris Drives Even Greater Adoption and Value
Also today, Emptoris launched Overdrive, a new offering designed to accelerate business impact and drive self-sufficiency for customers. Built by sourcing program managers, this service offering helps companies create and run an effective program management office to support the roll out of Emptoris’ sourcing capabilities enterprise-wide and push adoption to the next level. The offering combines the following new tools and services:
1. Assessment: Overdrive’s assessment tools help customers identify opportunities to improve their sourcing program, projects and events.
2. Adoption: Adoption workshops are offered to help companies push commodities coverage to in excess of 75%.
3. Analytical Reporting: Leave behind analytical reporting and program analysis tools help customers improve efficiency and decision-making.
4. Access: Access to a broad user community promotes knowledge sharing and includes benchmarking metrics.
Market Needs Driving Consolidation
“Through continuously strong organic growth, and with strategic acquisitions, Emptoris continues to expand its footprint as the market leader in supply and contract management software,” said Avner Schneur, Emptoris` chief executive officer. “The acquisition of MINDFLOW and leading companies such as diCarta expand our capabilities to meet the growing demands for our solutions and services.”
In the past three years, as customer demand for Emptoris’ integrated solutions has accelerated, the company has selectively acquired strategic spend, sourcing and contract management companies.
With the acquisition of MINDFLOW, Emptoris added a number of major new customers, including a leading global food and beverage manufacturer and several of the nation’s leading quick-service and casual dining restaurant chains, expanding its industry footprint and expertise in these sectors. The acquisition also further strengthened the company’s team of sourcing experts and product managers and developers.
A Shared DNA as Innovators
Emptoris, ranked #1 for current offerings in sourcing and contract management functionality by Forrester Research, was founded based on its innovative developments in the use of optimization in strategic sourcing. The company has consistently invested up to a third of its revenue back into research and development to expand its solutions and bring innovations to the market. That commitment has led to the company holding more than 115 pending patents for sourcing and supply management technologies – and to consistent recognition for its product leadership by leading industry analyst firms. Like Emptoris, MINDFLOW was an early pioneer of strategic sourcing automation and was also placed by Gartner in the “visionary” quadrant of the research firm’s annual Strategic Sourcing Applications Magic Quadrant in January 2005.
Emptoris is the world leader in innovative supply and contract management software solutions that empower enterprises to realize best value and accelerate profitable growth. Emptoris solutions are used by successful Global 2000 companies in every industry. Customers include American Express, Bank of America, Boeing, Dow Corning, GlaxoSmithKline, Motorola, Owens Corning, Samsung America, and Toro.