Cary, N.C.—June 25, 2008—Lonesource, a leader in providing spend management solutions that consolidate, standardize and simplify corporate spending, today announced that it has signed agreements with four new engineering firms, contributing to Lonesource’s successful growth strategy in the engineering industry.
Since Lonesource’s inception in 2000, the company has increased its visibility around the nation with its engineering clients. From East to West, the newest additions to Lonesource’s client roster include KCI Technologies, ECS Corporate Services, Pennoni Associates and Carollo Engineers, headquartered in Maryland, Virginia, Pennsylvania and Arizona.
Lonesource serves its clients with ideal solutions related to organizational spending including automatic reconciliation of spending to company general ledger codes, detailed, real-time monitoring capabilities and invoice consolidation. Its technology particularly aligns with engineering firms, which commonly have geographically dispersed, high-growth offices.
“In 2007 we reached record sales of $142 million,” said Don McConnell, vice president and CFO of KCI. “With our increasing revenues, we needed a system in place to maintain control of our operational purchases, including office and field supplies. Lonesource is helping us consolidate expenses so we can focus on core business and remain a top-ranked engineering firm.”
Tracing its roots to a small basement business in Maryland in 1955, KCI today is the largest employee-owned engineering firm based in Maryland, with more than 1,000 people operating out of 28 offices throughout the Northeast, Southeast and Mid-Atlantic. KCI has consistently been ranked high among its competitors, and in 2007 Engineering News-Record magazine placed KCI 80th among the top engineering firms in the country.
“I’ve found that Lonesource employees are knowledgeable, helpful and accommodating,” said McConnell. “Their initial presentation to KCI’s management group was impressive, but what really drew us in was the fact that they were able to thoroughly answer our questions and address our needs.”
ECS Corporate Services, based out of Virginia, holds offices throughout the eastern United States, Texas, Illinois, and Wisconsin and offers services in geotechnical engineering, environmental consulting, construction materials testing and facilities consulting. Headquartered in Philadelphia, Pennoni Associates is a multi-disciplined consulting engineering firm employing more than 830 throughout the Northeast. Carollo Engineering, headquartered in Arizona with offices spread throughout the U.S., offers environmental engineering services including water and wastewater planning, design and construction management.
“We’re happy to have formed relationships with these outstanding engineering firms,” said Bennie Thomas, Lonesource senior vice president of sales. “Through our advanced technology and skilled employees, we help our clients reduce excess expenses and increase profitability.”
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. Founded in 2000, Lonesource is headquartered in Cary, N.C. For more information, visit www.lonesource.com.