Procuri Announces Triple-Digit Total Bookings and Profitability Increases in the First Quarter

LAS VEGAS--(BUSINESS WIRE)--Procuri®, the leading global provider of On Demand Supply Management solutions, announced continued company growth and customer acquisition and retention with 54 new, expansion and renewal agreements in the first quarter, a 79 percent increase from first quarter 2006.

“Procuri has exclusively offered SaaS solutions, so our business model has always been attractive to investors. As we sign more and more customers each quarter and our average contract length increases, so does our future revenue”

Significant financial milestones for the quarter include:

• New deal total bookings increased by 115% year-over-year
• New deal incremental annual revenue increased by 105% year-over-year
• 21 new customers, almost 40 percent of whom are full suite deals, including Conn-Selmer, Inc., Domino’s Pizza PMC, Inc., Fabral, Inc., JetBlue Airways, Stonyfield Farm and United Parcel Service of America, Inc. (UPS)
• 13 expansions including agreements with Airportsmart Ltd., The Boots Company PLC, Carillion, TRW Automotive Holdings Corp. and UPM-Kymmene
• 20 renewal agreements including FM Resources, Friesland Foods and XO Communications
• Average contract length for new deals increased to 3.8 years, signaling an enterprise acceptance of the Software-as-a-Service (SaaS) model as a long-term enterprise solution

“Procuri has exclusively offered SaaS solutions, so our business model has always been attractive to investors. As we sign more and more customers each quarter and our average contract length increases, so does our future revenue,” said Mark Morel, Procuri’s president and CEO. “Other companies in this industry are transforming their business model to take advantage of the SaaS benefits while we have eight years of experience and knowledge operating as a SaaS company.”

One of the Fastest Growing Technology Companies for the Third Year in a Row

In addition to being highlighted as a “Cool Vendor” by Gartner Research and listed on the Start-IT 125 in the first quarter, Procuri has been named one of the fastest growing technology companies by the editors of the Atlanta Business Chronicle. Procuri has been named to this elite list consecutively for the last three years. To be considered, companies must be headquartered in Atlanta, must have 2006 revenue between $1 million and $300 million and must have two years of growth in sales of more than 50 percent.

Evangelizing On Demand Supply Management Excellence

Procuri continuously discusses On Demand Supply Management excellence by providing the tools, resources and information companies need to be successful. The company is hosting a series of events throughout the year for supply management practitioners to learn about the latest industry trends and network with peers:

• After a successful run in London and Stockholm with approximately 100 attendees, the Supply Management 2.0 Forum is making four stops across the U.S. in May and June. The Forum series brings together executives from a variety of industries and gives supply management professionals the opportunity to network and to share practical strategies to speed and sustain supply management performance. Topics to be discussed include spend analysis, strategic sourcing, contract management and supplier management and will feature customer speakers from National City Corp., Novation, Alliant Techsystems, AllianceBernstein, KeyBank and Roll International. For more information or to register for this event, visit www.procuri.com/events.
• Procuri Empower 2007, the industry’s leading conference for global supply management executives and thought leaders, will be held October 8-10, 2007 at the InterContinental Hotel Buckhead in Atlanta. High profile keynotes and world-class supply management practitioners will address globalization’s effect on supply management and how companies can optimize supply costs, performance, and risks in the global economy. 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 executives from salesforce.com, International Association for Contract and Commercial Management (IACCM), National City Corp, Federal Signal, Toyota Financial Services and Purchasing Magazine. For more information or to attend Procuri Empower 2007, please visit www.procuri.com/empower or contact empower@procuri.com.

About Procuri Inc.

Procuri leads the On Demand Supply Management industry with more than 350 customers of all sizes, industries, geographies and spend categories. Customers include Eastman Kodak, ITT Industries, KLM Royal Dutch Airlines, The McGraw-Hill Companies, Newell Rubbermaid, Sun Microsystems and Toyota Motor Sales. Procuri’s On Demand solutions for spend analysis, supplier management, strategic sourcing, contract management and compliance are comprehensive, cost effective and instantly available. For more information, call 1-877-360-1600 or visit www.procuri.com.

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