University of Pennsylvania Purchasing Services Selects Iasta for new Online Bidding & Reverse Auction Technology

Philadelphia, PA , July 14, 2008

University of Pennsylvania Purchasing Services is pleased to announce a new exclusive online bidding technology contract with Iasta, a software and global service provider of cost effective online requests for information, quotations and proposals. The Iasta tool will be used by Purchasing Services as a centralized repository for sourcing projects with an integrated document library and bidding templates that can be used by the campus community. We will also be using the tool for other functions such as managing the insurance certificate renewal process for our approved caterers.

The new online bidding functionality will enable Purchasing Services to further streamline its process for competitively bidding university-wide requirements and enable the distribution of online bid solicitation capability to designated users in the Schools and Centers. The expanded use of online bidding technology in Purchasing Services and the Schools and Centers will result in new cost savings and process efficiencies for the institution.

Please contact Vira Homick, Director of eBusiness, for more information on this new technology partner or if you are interested in utilizing this online bid solicitation technology for requirements in your School or Center.

About Purchasing Services

Purchasing Services is a Supply Management department under the auspices of the University of Pennsylvania's Division of Business Services. Purchasing Services is responsible for appropriately $750 Million of annual direct spend and an additional $300 Million of annual indirect spend leveraged collaboratively with other supply and fulfillment related departments.

Iasta is a trademark of Iasta.com, Inc. All other products and brand names are trademarks or registered trademarks of their respective owners.

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