Global Hedge Fund Firm Manages Corporate Spend with PROACTIS
PROACTIS, a global Spend Control and eProcurement provider, today announced that one of the largest hedge fund firms in the world has placed a further order against an initial three-year contract which brings their total investment in PROACTIS' software and consultancy to over $2million. The institution is actively deploying PROACTIS software and services to manage their corporate spending to achieve cost savings and business process efficiency.
The hedge fund firm signed a contract for PROACTIS' range of cloud-based procurement and purchase-to-pay softward solutions in 2011. Since that date, over 20 orders have been placed to expand the information systems framework in an end-to-end environment. The firm is focused on continuously measuring, improving and expanding the scope of deployment to additional spend categories, business processes and range of organisational usage.
Rod Jones, CEO of PROACTIS, commented: "I am delighted to announce this milestone which is testament to our expertise in understanding the Spend Control and procurement needs of large, complex organisations. This extended contract clearly demonstrates our strong reputation of providing a tangible return on investment for global companies from day one."
The US-based hedge fund provider manages global investments for a wide range of institutional clients, including foreign governments and central banks, corporate and public pension funds, university endowments and charitable foundations.
PROACTIS works with hundreds of organisations around the world to achieve true control of spend within their organisations. This includes software that supports the business processes used to obtain best value for purchased goods and services. In addition, a structured process that enables organisations to establish a broad range of integrated, effective and sustained Spend Control business processes that realise savings, process improvements, risk reduction and other strategic benefits.