Verian Technologies Unveils New Asset Management Tracking Module

Verian Technologies Unveils New Asset Management Tracking Module

ProcureITs New Integrated Functionality Tracks Fixed Assets & Machinery

Charlotte, NC – October 4, 2000 – Verian Technologies, a leader in 100% web-based procurement and materials management solutions for the mid-market, announced today the availability of the Asset Tracking module. This new module is part of the ProcureIT 5.0 solution and offers the customer a comprehensive and sophisticated means of tracking the activity and movement of fixed assets and machinery using one system. Clients can track assets from the time of requisition, through the delivery, warehousing, and use, to disposal. ProcureITs new Asset Tracking module provides complete life cycle management – much more functionality than a stand-alone application.

"Verian Technologies is constantly working on ways to enhance ProcureIT and enable organizations to be competitive by automating procurement and materials management business processes," said Tehseen Ali, president and CEO of Verian Technologies. "By listening to our customers, and paying close attention to the developing trends in the e-procurement and materials management industries, we are able to provide our customers with this new Asset Tracking application."

The Asset Tracking module is useful for organizations across all industries that need to manage large numbers of distributed assets from machinery parts to furnishings to computer hardware. With the Asset Tracking module, organizations can track financial transactions – leases and transfers, and regular scheduled maintenance activities – repairs, upgrades, and warranties via one system without the hassles and time-consuming activities of a paper-based system. The module is installed as a component of the ProcureIT 5.0 solution.

About Verian Technologies

Verian Technologies is a leading provider of web-based electronic procurement and materials management solutions. ProcureIT enables companies to streamline materials management processes, reduce staff time associated with purchasing and reduce the paperwork of a manual-based purchasing department. Verian Technologies solutions enable organizations to significantly reduce operational costs and increase efficiency by automating the entire procurement process. As a result, organizations are able to realize a strategic competitive advantage and a rapid return on investment. Verian Technologies is located in Charlotte, North Carolina, and can be reached by calling (888) 791-6909 or (704) 547-7301, or visiting the web site at http://www.procureit.com.

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Media Contact: Anna Rushing

CarterTodd & Associates

803-779-4005

anna@cartertodd.com