WESTBOROUGH, MA October 6, 2003 -- Tibersoft, leader in foodservice spend management solutions for the enterprise, announced today an agreement with ARAMARK under which ARAMARK will license Tibersoft's IQ Enterprise Spend Management Solution.
The transaction also includes a bundle of integrated data services hosted by Tibersoft called TiberNet Data Channel. The solution will position ARAMARK with the technology needed to address key supply chain areas of its business and is designed to assist in the reduction of operating expenses.
"With the increased visibility and control, Tibersoft's solution will help us in structuring arrangements with a more complete range of our vendors," said John Orobono, SVP of Supply Chain for ARAMARK. "This application will be a core component to maximizing ARAMARK business opportunities."
"We are pleased to be providing strategic technology to help ARAMARK achieve its business objectives. ARAMARK is widely-admired for building strong partnerships with its clients and suppliers, and that makes this decision even more meaningful for us," said Christopher Martin Founder and Vice Chairman of Tibersoft.
The Tibersoft IQ solution will provide ARAMARK three categories of functionality: contract management, supply chain decision support, and procurement data management. Contract management provides for the right items to be purchased at the right price and includes workflow functionality that aligns all participants in the contract execution value chain.
The decision support functionality drives transactional best practices by understanding purchases by location at an invoice level, seasonal fluctuations in commodity pricing, and underscoring critical trends within that velocity data. Procurement data management services are supplied via TiberNet Data Channel, which automates the acquisition, refinement, and delivery of vendor invoice data.