PROACTIS Holdings PLC Partnership Agreement with P&O Ferrymasters (3741A)
June 07 2016 - 1:01AM
UK Regulatory
TIDMPHD
RNS Number : 3741A
PROACTIS Holdings PLC
07 June 2016
Date: 7 June 2016
On behalf of: PROACTIS Holdings PLC ("Proactis"
the "Company" or "the Group")
Embargoed until: 0700hrs
PROACTIS Holdings PLC
Partnership Agreement with P&O Ferrymasters
PROACTIS Holdings PLC ("PROACTIS", the "Group" or the
"Company"), the global specialist Spend Control and eProcurement
solution provider, is pleased to announce that P&O Ferrymasters
("POFM") has selected the PROACTIS Supplier Network to streamline
electronic communications across its supply chain and offer an
accelerated payment facility.
POFM and PROACTIS (together, the "Parties") have entered into a
Partnership Agreement that will extend the current contracted
relationship for the provision of PROACTIS' solutions for a further
five years to June 2021 and also to utilise PROACTIS' Supplier
Network technology to:
- Automate the processes of supplier engagement and record
management through a self-service portal;
- Enable all suppliers to transact electronically with a full
range of electronic invoice methods for all suppliers to adopt,
increasing POFM's and their own efficiency by streamlining invoice
handling;
- Present online transaction status visibility throughout the
process to efficiently involve suppliers on a self-service basis to
streamline communication; and
- Offer a flexible Accelerated Payment Facility which enables
suppliers, on an invoice by invoice basis, to support their own
economic situation with fast access to an early payment.
POFM has approximately 7,850 suppliers and has annual bought in
spend of approximately GBP350 million.
In addition, POFM has elected to deploy PROACTIS' Spend Analysis
technology to facilitate near real time understanding of its
spending profile and patterns and to work with PROACTIS on
deploying the technology enterprise wide.
Chris Cassidy, Finance Director at POFM, commented:
"The existing PROACTIS Invoice Processing Solution has already
delivered tangible savings for POFM. The extension of the current
contractual arrangements and the deployment of the new technology
is testament to our valued and successful working relationship. We
are very excited about adopting the PROACTIS Supplier Network
technology as it provides a wide range of electronic connectivity
options to streamline our supplier relationships and to deploying
the PROACTIS Spend Analysis technology in the business that will
give fast access to near real time spending patterns and give
greater transparency. We look forward to realising these
considerable benefits for POFM whilst providing substantial
benefits to suppliers through the opportunities to accelerate
payment and expand sales with other customers."
Rod Jones, Chief Executive at PROACTIS, commented:
"POFM is a long standing, dynamic and valued client with an
innovative approach to the use of technology to improve business
performance. The PROACTIS Supplier Network and Spend Analysis
technologies will provide even greater returns for POFM and its
suppliers will also benefit through the online e-invoicing
capabilities they now have access to and through the accelerated
payment facility to support their working capital positions. I'm
absolutely delighted that POFM has committed to PROACTIS for a
further five years which is crucial to our strategic
objectives."
End
For further information, please contact:
PROACTIS Holdings PLC
Rod Jones, Chief Executive Via Redleaf Communications
Officer
Tim Sykes, Chief Financial
Officer
Redleaf Communications
Rebecca Sanders-Hewett
Sarah Fabietti
Harriet Lynch 0207 382 4730
finnCap Limited
Stuart Andrews 0207 220 0500
Carl Holmes
Emily Watts
Notes to Editors:
PROACTIS creates, sells and maintains specialist software which
enables organisations to streamline, control and monitor all
internal and external expenditure, other than payroll. PROACTIS'
solutions are used in over 800 organisations around the world from
the commercial, public and not-for-profit sectors. It is the
largest independent eProcurement solution provider to the UK Public
Sector.
PROACTIS is head quartered in Wetherby, West Yorkshire. It
develops its own software using an in-house team of developers and
sells through both direct and indirect channels via a number of
Accredited Channel Partners.
PROACTIS floated on the AIM market of the London Stock Exchange
in June 2006.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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