Illinois Tool Works Spends With Verticalnet

Diversified manufacturer Illinois Tool Works (ITW) Inc. has chosen Verticalnet's spend analysis solution to help it improve its direct and indirect materials spending in North America. The Glenview, Ill.-based firm will use Verticalnet's technology to identify strategic sourcing opportunities across its North American divisions and to perform price audits. The manufacturer said the ability to introduce Verticalnet's solution without disrupting existing systems was a selling point. "Another important factor in our decision-making process revolves around implementation of the software, which will not require a lengthy implementation or services engagement," says Gary F. Anton, ITW vice president of strategic sourcing. "ITW is a highly acquisitive company with disparate systems and decentralized purchasing organizations. In order to gain enterprisewide spending and contract visibility, our spend data needs to be extracted, cleansed and normalized from many systems across our divisions and locations without disruption to our day-to-day purchasing operations." Malvern, Pa.-based Verticalnet offers potential customers an opportunity to preview its solution's potential value to a company through a spend diagnostic program that uses a firm's own data -- before any money is spent on software or services.