FOR IMMEDIATE RELEASE
CombineNet Continues Aggressive Leadership in Advanced Sourcing Technology Innovation
Awarded two new patents in the areas of Dynamic Exchange & Expressive Commerce,
the back-bone of Advanced Sourcing Technologies
PITTSBURGH, PA — June 8, 2009
CombineNet, the leading provider of advanced sourcing and optimization technologies,
announced today that it was awarded two new patents directly related to enabling
companies make better, more value-focused sourcing decisions. Considered the leader
in driving technological innovation to advanced sourcing strategies and technologies,
these two new patents bring the total number of sourcing optimization-related patents
awarded to CombineNet to seven.
The two new patents announced today include:
- U.S. Pat. No.7,499,880 on the "Dynamic Exchange Method and Apparatus"
- U.S. Pat. No. 7,353,191 on the "Method and Apparatus for Selecting a desirable Allocation
of Bids in a Combinatorial Exchange Setting"
These patents address the core technologies around which our products are built,"
said Tuomas Sandholm, CombineNet Founder and Chief Scientist. “This is an endorsement
of our continued investment and efforts in core Research and Development to solve
challenging customer problems and keep us well ahead of the competition in terms
of innovation and development."
CombineNet continues investment in R&D innovation to maintain Advanced Sourcing
Leadership in these tough economic times. "Innovation is at the core of our business
strategy and patents are our 'crown-jewels'" said Tony Bonidy, CEO of CombineNet.
"We have always been focused on pushing the envelope of e-sourcing technologies
to enable more transformational sourcing strategies, and we will continue to push
our product superiority and protect our intellectual property in the e-sourcing
market."
Previously awarded patents include a number of methods and algorithms to support
Expressive Commerce&trade, the strategic sourcing process by which suppliers and
buyers are able to communicate more creatively and expressively in large-scale e-sourcing
(RFX and Reverse Auction) events to find win-win solutions that increase efficiencies
and reduce costs for both parties. The Expressive Commerce process is delivered
to buying organizations via the CombineNet Advanced Sourcing Application Platform
(ASAP).
CombineNet ASAP is a Web-based, Software-as-a-Service (SaaS) technology solution
that provides industry-leading optimization technology to solve complex strategic
sourcing and supply allocation problems. CombineNet ASAP is changing the way organizations
source a wide variety of strategic spend categories by providing the ability to
quickly analyze innovative, expressive supplier proposals in the context of their
business constraints, goals and preferences. Companies are using ASAP’s category-specific
pre-configured and configurable Sourcing Solutions to explore new cost reduction
opportunities and supplier innovations, to identify the best combination of cost
and value – the optimal solution.
About CombineNet
CombineNet, the advanced sourcing technology company, helps companies achieve the absolute best value and lowest total cost of ownership for goods and services. CombineNet's Advanced Sourcing Application Platform enables companies to engage in Expressive Commerce™, the strategic sourcing initiative that allows buyers and sellers to communicate supply and demand more expressively, collaboratively and strategically. The result is a win-win for both buyer and supplier, where greater innovation and efficiency are driven into the supply chain. CombineNet's ASAP consistently produces 10, 15, even 20 percent greater actual cost savings than other e-sourcing solutions, and has delivered more than 45x ROI for the largest businesses in the world including General Mills, PepsiCo, Procter & Gamble, Siemens and others. For more information, visit www.combinenet.com.
Media Contacts:
Greg Holt
CombineNet Inc.
Director of Marketing
Phone: 412.471.8200
gholt@combinenet.com