Web-based system provides spending management solutions that consolidate, standardize and simplify corporate spending.
Cary, N.C. — November 27, 2007 — Lonesource, a leader in providing spend management solutions that consolidate, standardize and simplify corporate spending, today announced that it has signed on six customers in the engineering industry. These new customer acquisitions expand Lonesource’s rapidly growing footprint of engineering customers.
Lonesource’s customers now stretch from Maine to Florida and from Puerto Rico to California and include engineering firms such as Parkhill, Smith & Cooper (PSC), Hull & Associates, NTD Architecture and CSA Group, which are headquartered in Texas, Ohio, California and Puerto Rico, respectively.
Throughout the global business landscape, companies are recognizing the value of implementing spend management solutions to simplify operational spending. With engineering firms specifically, Lonesource offers the ideal solution to provide detailed, real-time visibility on organization spending, particularly at multiple, geographically dispersed offices.
“As part of our business development plan, we are successfully expanding into the United States,” said Jaime Ramirez, senior vice president and chief organization effectiveness officer of CSA Group. “We currently have more than 500 employees, including those gained in recent acquisitions, and a growing number are in the U.S. Now that we have signed on with Lonesource, our offices will have more consistency in spend management and related financial reporting, and CSA Group leaders will be able to focus more on bringing in new engineering projects and opening more offices.”
“When I first researched Lonesource’s solution, I immediately realized the potential impact it could have on our company,” said Mike Cartwright, CFO of PSC. “We started the implementation process in June and within a few weeks Lonesource completed the roll-out process in all of our offices. PSC has hundreds of professional, technical and support personnel, and a streamlined procurement process has allowed each department to work more efficiently as we better position ourselves for growth.”
Lonesource offers a hosted, Web-based solution for companies to optimize and manage spending across all corporate departments to increase profitability and dramatically simplify procure-to-pay processes. Lonesource consolidates hundreds or thousands of invoices into a single invoice, provides real-time visibility of every transaction across the entire company, automatically reconciles all spending to a company’s general ledger codes and improves controls and service levels that significantly reduce the workload for finance teams. Users can purchase a large array of products ranging from engineering supplies to marketing materials.
“Our company offers corporate spend management services to customers in many industries including banking and finance, retail, automotive and pharmaceutical, but our leading customer sector is engineering,” said Bennie Thomas, Lonesource senior vice president of sales. “I am pleased that we continue to gain momentum in that industry. There are thousands of engineering firms in the United States, and we are concentrating on getting our name out so that each firm will review the Lonesource solution to handle its spend management needs.”
Engineering customers have had tremendously positive results using Lonesource’s spend management solution. Additional successes include companies such as McKim & Creed, an award-winning infrastructure design firm that offers comprehensive engineering, surveying and landscape architectural services to public and private sector clients throughout the United States, and Kimley-Horn, one of the nation’s most comprehensive and well respected engineering and land planning firms.
About Lonesource
Lonesource is recognized as the leading provider of spend management solutions that consolidate, standardize and simplify corporate spending. The company offers a hosted, Web-based solution for companies to optimize and manage spending across all corporate departments to increase profitability and dramatically simplify procure-to-pay processes. Lonesource works with growth-oriented organizations in several market sectors and has helped companies including CARQUEST, Kimley-Horn, Waste Industries, Security Finance and The Pantry. Founded in 2000, Lonesource is headquartered in Cary, N.C. For more information, visit www.lonesource.com.
