PITTSBURGH, June 6, 2012 /PRNewswire/ -- CombineNet, Inc., the leading provider of best-in-class online sourcing technology solutions for global supply chains, today announced that four new patents have been awarded to the company in 2012 thus far by the United States Patent and Trademark Office, bringing CombineNet's total awarded U.S. patents to 21. CombineNet today supports all categories of enterprise spend management with its cloud-based software products for advanced sourcing, contract management, and spend analysis.
The new 2012 patents were awarded for CombineNet's advanced methodologies and technology approaches to optimize and simplify processes used by procurement and sourcing teams to source goods and services from suppliers, from routine spend categories to the most complex sourcing events.
Said Steve Brooke, chief technology officer of CombineNet: "As evidenced by our growing patent portfolio, research and innovation continues to be a commitment of the CombineNet team of professionals. Leveraging our intellectual property allows us to solidify our position as the market leader in providing our customers powerful solutions for increasing spend under management."
The four patents awarded in 2012 further advance CombineNet's position as a leader in strategic sourcing optimization technology. The new patents are:
- U.S. Patent No. 8,165,921: Dynamic exchange method and apparatus.
- U.S. Patent No. 8,190,489: Bid modification based on logical connections between trigger groups in a combinatorial exchange.
- U.S. Patent No. 8,190,490: Overconstraint detection, rule relaxation and demand reduction in a combinatorial exchange.
- U.S. Patent No. 8,195,524: Items ratio-based price/discount adjustment in a combinatorial auction.
With these patents, key benefits to customers of the CombineNet ASAP® e-sourcing product include increased flexibility on collecting and analyzing data in e-Auctions and eRFX sourcing events; expansion of optimization capabilities; and support for complexities found in certain spend areas.
CombineNet, Inc. delivers award-winning best-in-class e-sourcing software solutions through its products CombineNet ASAP® for advanced e-sourcing, CombineNet Spend Analysis, and CombineNet Contract Management. Using these Software-as-a-Service (SaaS)-based sourcing products, CombineNet customers can rapidly adopt proven solutions for increasing spend under management and improving enterprise spend insights. Now in its twelfth year in business, CombineNet is known for its track record in driving significant bottom-line and productivity savings for its clientele which includes: Procter & Gamble, General Mills, Sears, Johnson & Johnson, A.P. Moller-Maersk, Bayer, Coca-Cola, PepsiCo, Reckitt Benckiser, AstraZeneca, and many more Global 2000 firms.
SOURCE CombineNet, Inc.