VERT Verticalnet (MM)

Verticalnet, Inc. (Nasdaq:VERT), a leader in On Demand supply management solutions, today announced that Verticalnet๏ฟฝ XE Negotiation Manager is fully compliant with new procurement directives regarding online auctions applicable to various United Kingdom governmental procurement agencies. The updated Office of Government Commerce guidelines include requirements such as: Expressions of Interest must be published. Successful bidders must be invited simultaneously via electronic means Invitation must contain connection details including date and time not sooner than two working days after transmission When the auction conducted in phases, the invitation must state number of phases and timetable Auctions must be based on lowest price or most economically advantageous offer requirement The Non price attributes must be capable of being expresses as a value (figure or percentage) Limits to quality values arising from specified requirements must be stated in the specification The invitation to participate must be accompanied by the outcome of a full initial evaluation of the bids and details of the mathematical rankings formula to be used in the auction phase Ranking in respect of those aspects subject to auction must be visible to bidders during the eAuction stage Verticalnet CEO and President Nathanael Lentz states, ๏ฟฝGovernment agencies are increasingly focused on ensuring accountability and ethics throughout the governmental sourcing process. Many of these core values are shared by leading private-sector sourcing organizations as well. Our ability to support agency guidelines translates into well-structured, transparent, and effective negotiation solutions for public and private-sectors alike.๏ฟฝ About Verticalnet Verticalnet is a leading provider of supply management solutions that enable companies to identify and realize sustained value across the supply management lifecycle. Going beyond traditional spend management and sourcing approaches, Verticalnet๏ฟฝs solutions provide the visibility, insight and process control required to maximize the sustained value realization from supply management. Large enough to help customers attain supply management success worldwide, yet nimble enough to provide individual attention and remain focused on customer priorities, Verticalnet is helping leading Global 2000 companies and mid-market enterprises move their supply management efforts to the next level through an optimal blend of software, comprehensive services, and deep category knowledge and domain expertise. To learn more, please visit us at www.verticalnet.com Verticalnet is a registered trademark or a trademark in the United States and other countries of Vert Tech LLC Verticalnet, Inc. (Nasdaq:VERT), a leader in On Demand supply management solutions, today announced that Verticalnet(R) XE Negotiation Manager is fully compliant with new procurement directives regarding online auctions applicable to various United Kingdom governmental procurement agencies. The updated Office of Government Commerce guidelines include requirements such as: -- Expressions of Interest must be published. -- Successful bidders must be invited simultaneously via electronic means -- Invitation must contain connection details including date and time not sooner than two working days after transmission -- When the auction conducted in phases, the invitation must state number of phases and timetable -- Auctions must be based on lowest price or most economically advantageous offer requirement -- The Non price attributes must be capable of being expresses as a value (figure or percentage) -- Limits to quality values arising from specified requirements must be stated in the specification -- The invitation to participate must be accompanied by the outcome of a full initial evaluation of the bids and details of the mathematical rankings formula to be used in the auction phase -- Ranking in respect of those aspects subject to auction must be visible to bidders during the eAuction stage Verticalnet CEO and President Nathanael Lentz states, "Government agencies are increasingly focused on ensuring accountability and ethics throughout the governmental sourcing process. Many of these core values are shared by leading private-sector sourcing organizations as well. Our ability to support agency guidelines translates into well-structured, transparent, and effective negotiation solutions for public and private-sectors alike." About Verticalnet Verticalnet is a leading provider of supply management solutions that enable companies to identify and realize sustained value across the supply management lifecycle. Going beyond traditional spend management and sourcing approaches, Verticalnet's solutions provide the visibility, insight and process control required to maximize the sustained value realization from supply management. Large enough to help customers attain supply management success worldwide, yet nimble enough to provide individual attention and remain focused on customer priorities, Verticalnet is helping leading Global 2000 companies and mid-market enterprises move their supply management efforts to the next level through an optimal blend of software, comprehensive services, and deep category knowledge and domain expertise. To learn more, please visit us at www.verticalnet.com Verticalnet is a registered trademark or a trademark in the United States and other countries of Vert Tech LLC