Procuri Continues to Achieve Industry-Leading Growth and Receive Industry Accolades; Company Delivers Strong Second Quarter Results with 98% Increase in Committed Bookings, 90% Increase in Average Contract Revenue, and 78% Increase in Average Contract Terms

Business Wire,  August 23, 2006  

Tags: industry, Procuri, revenue

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ATLANTA -- Procuri, the global leader in On Demand supply management solutions, delivered strong results in the first half of 2006 with a 98 percent year-over-year increase in committed bookings. The company also experienced a 90 percent increase in its average contract revenue (deal size) from Q2 2005 to Q2 2006. E[acute accent]With a continuous increase in software bookings, incremental annual revenue, new customer wins, competitive displacements, customer renewals and expansion agreements, Procuri reaffirms its position as the global leader in On Demand supply management. E[acute accent]New Procuri customers are committing to longer contract terms, with the average contract length increasing to 44 months. Customer highlights for the Second Quarter 2006 include:

E[acute accent]--13 New Customers - Procuri's solutions help drive enterprise supply management excellence at leading organizations, including new additions to Procuri's customer base: EMI Music, Novation LLC, and V&S Group.

E[acute accent]--8 Expansion Contracts -Significant expansion contracts were signed with existing customers including Expedia, Inc., GMAC Mortgage Group, and Pilkington, reinforcing the market shift to invest in broader, integrated supply management suites.

E[acute accent]--11 Customer Renewals - Continuing the company's exceptional customer retention rate, renewal customers in the quarter included American Greetings, Fortune Brands, Reuters, and Rio Tinto.

E[acute accent]Procuri: Pioneer of the On Demand Delivery Model for Supply Management

E[acute accent]Each year, Supply & Demand Chain Executive magazine features enablers that are leading the way in providing cutting-edge solutions and services to help enterprises address pain points in their supply chains through the application of new technologies and new processes. And, each year, Procuri makes the Supply & Demand Chain Executive 100 list. 2006 is no different as Procuri is recognized for pioneering "the on-demand delivery model for supply management and offers one of the industry's most comprehensive solutions for managing supply management processes." E[acute accent]"This year the magazine focused the criteria for its '100' feature on innovation. Our judging committee looked for solutions across a variety of industries, addressing the needs of companies of varying sizes, and assisting in the transformation of a diverse mix of the functions that make up the supply chain. The result is a comprehensive listing of leading providers of supply chain services and technologies who are at the forefront of innovation," said Andy Reese, editor of Supply & Demand Chain Executive. "It's clear with Procuri's growth rate and customer base, the company is on a great path and it's our pleasure to recognize them in this distinguished list." E[acute accent]"Procuri continues to evangelize its entire product suite, showcase the value of supply management solutions and lead the industry in customer retention. As other vendors struggle to make their financial targets, our over 70% year-over-year growth rate speaks for itself," said Mark Morel, Procuri's president and CEO.

E[acute accent]About Procuri Empower 2006

E[acute accent]Rated as one of the best conferences in the industry by the attendees, Procuri Empower 2006 will feature keynote addresses by recognized executives, case study presentations from major corporations and panel discussions led by top experts in the field. The conference will provide attendees with a unique educational platform to learn about new solution developments, discuss common issues and build mutually profitable relationships. Speakers include Sun Microsystems, MeadWestvaco, Hess Corporation, Cincinnati Children's Hospital, US Steel, National City Bank, Alliant Tech Systems, KLM, McGraw-Hill and QUALCOMM. Empower 2006 will be held September 11-13 2006 at the InterContinental Atlanta. For more information or to attend Procuri Empower 2006, please visit www.procuri.com/empower or contact empower@procuri.com.

E[acute accent]About Procuri Inc.

E[acute accent]Procuri leads the On Demand Supply Management industry with more than 350 customers of all sizes, industries, geographies and the highest customer-retention rate. Customers like Georgia-Pacific, Sun Microsystems, U.S. Steel, Baxter Healthcare, Cadbury Schweppes and National City Corp leverage Procuri solutions to negotiate best-value supply relationships and drive continuous improvements in performance and cost. Procuri's On Demand solutions for spend analysis, supplier management, strategic sourcing, contract management and compliance are comprehensive, cost effective, fast to deploy, and always available. For more information, call 1-877-360-1600 or visit www.procuri.com.

E[acute accent]All copyright, registration and trademarks for Procuri, Inc., Procuri, Procuri TotalSource, Procuri TotalSupplier, TotalContracts and Procuri TotalAnalytics. Other company and product names may be trademarks of their respective owners.

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