Source One and ThomasNet - Championing Innovative Ways to Save Time and Money in a Tough Economy

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Just one short year after launching, the ThomasNet.com Purchasing Tools, powered by Procurement Services Provider, Source One, are empowering thousands of buyers with e-sourcing capabilites to help reduce their costs in sourcing and procurement.

An accountant can give you a calculator, but that doesn't mean that you know how to do your taxes.

RFP Manager, a free online procurement tool, has been offered at ThomasNet (http://www.ThomasNet.com), the leading industrial destination, for just over a year. Thousands of professionals are now using the tools to improve and streamline their purchasing processes. It has become clear that owners, purchasing agents and engineers from all sizes of companies are finding value in a tool that saves crucial time and money in the current economic landscape.

Source One (http://www.SourceOneInc.com), in partnership with ThomasNet, released this free tool in May of 2008. Source One's e-sourcing technology enables the two million monthly users of ThomasNet to decrease costs and increase buying efficiency just when they need it most.

The tool enables buyers searching for suppliers of industrial and business products through ThomasNet to:

  • Create and manage Requests for Proposals (RFP's) and Reverse Auctions in a more streamlined way.
  • Better manage contract renewals to improve their negotiating power and avoid late penalties.
  • Quickly locate Preferred Suppliers to increase the quantity and diversity of responses from potential vendors.

"We are strategic sourcing professionals; that's what we do all day. A few years ago we looked at the available e-procurement software to increase our internal efficiencies. What we found was software that was too complex and included functionality we didn't need or processes that did not work for our clients…and the licensing, training and technology support costs were substantial and were a barrier to adoption for most companies. We set out to design and develop our own e-procurement tool which would meet our day to day needs. We decided to partner with ThomasNet and offer RFP Manager to ThomasNet users for free," says Steve Belli, CEO of Source One Management Services LLC.

When asked why they would offer a free e-sourcing tool when their consulting practice depends on offering strategic sourcing to mid-market and larger companies, Belli responded "An accountant can give you a calculator, but that doesn't mean that you know how to do your taxes." Source One strives to be a comprehensive sourcing company. "We believe that buyers using ThomasNet RFP Manager will recognize the potential for broader company savings and contact Source One for help with their more complex, strategic sourcing projects. ThomasNet was the perfect vehicle to bring this innovative tool to our target audience," Belli commented.

Amidst sweeping budget cuts and restructuring in countless economic sectors, most notably manufacturing, larger companies are beginning to realize that RFP Manager is an effective way to eliminate unnecessary software expenses that cost as much to implement and maintain as they do to license. Companies have been adopting RFP Manager quickly; to date the tools have over 3500 registered users that have run hundreds of e-sourcing events.

Pat Daloisio, Director of Strategic Initiatives at ThomasNet and project lead for RFP Manager, notes, "Purchasing professionals at companies of all sizes, including many of the Fortune 1000, are finding RFP Manager a valuable addition to their workflow tools and a way to increase the efficiency of purchasing processes by 30 percent or more." For more information on Source One Management Services LLC, visit http://www.sourceoneinc.com and if you wish to sign up and learn more about RFP Manager go to http://www.thomasnet.com/tools-gadgets/purchasing/index.html today!

About Source One Management Services, LLC
Source One is a Procurement Service Provider that has been assisting companies with their strategic sourcing requirements for 17 years. Traditional strategic sourcing consulting engagements with Source One may include spend consolidation, assistance with statements of work, identification of alternate suppliers, market and supply research, RFP management, price and terms negotiations, and contract recommendations. In order to best service their clients, Source One provides flexible fee options for their consulting services including contingency (gain sharing) options to lower client risk. Source One offers a complete solution for businesses of all sizes. Larger businesses can take advantage of customized strategic sourcing solutions through the consulting branch. Smaller organization and organizations that are self-service in their procurement can use the newly launched, and free to use, MasterNegotiator.com website to find pre-negotiated discounts and agreements on the most common spend areas such as office supplies, telecommunications and credit card processing. Source One completes its offering with WhyAbe.com and various other custom branded e-sourcing portals that offer full-featured on-demand free e-sourcing platforms. For more information, visit http://www.SourceOneInc.com or call 215-902-0200.

About ThomasNet
ThomasNet (http://www.ThomasNet.com) is the leading online destination connecting industrial sellers and buyers worldwide. Buyers from Fortune 500 companies, the government, the military and more depend on ThomasNet to search for and purchase the products and services they need. ThomasNet provides access to over 607,000 industrial companies, indexed by 67,000 product and service categories.

ThomasNet also offers proprietary web-based technology to help industrial businesses increase sales, expand into new markets and improve efficiencies--ultimately succeeding in today's online environment. The company has more than a century of experience in the industrial market, and conducts ongoing research on buyers' and sellers' needs. ThomasNet has helped thousands of clients improve their sites with its Navigator Platform technology, which includes online catalogs, CAD drawings, e-commerce capabilities, content syndication, tracking/analytics, and more.

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William Dorn

Steven Belli
Source One
215-902-0200 ext. 264
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