Zeborg, Inc., the online procurement partner of Fortune 250 companies, announced that American Express has made a strategic investment in the company. Terms of the investment were not disclosed. The new agreement, effective immediately, extends the customer relationship that American Express began with Zeborg in September of 2000.
“Zeborg’s global procurement software offers companies comprehensive, cost-effective solutions for executing their purchasing strategies, re-engineering their procurement processes, and driving down their purchasing costs,” said Pierric Beckert, Senior Vice President, Investments and Business Development, American Express. “Our investment reflects our confidence in Zeborg’s business strategies, its products, and its commitment to generating measurable costs savings for its customers.”
“American Express brings financial strength, stability and a worldwide reputation that will help us accelerate the roll-out of Zeborg’s additional products,” said Arnab Gupta, chairman and co-chief executive officer of Zeborg, Inc. “As a customer for more than a year, American Express’ global procurement department has had first-hand experience in Zeborg’s capabilities as well as in our third generation solution that applies expertise to create savings. The company’s investment in Zeborg demonstrates valuable support of our business model.”
American Express employs Zeborg’s full software offering to support its global procurement strategies. Zeborg ExpenseMap(SM) is the first analytic software that offers an intelligent, cost-effective means to profile indirect spending and identify significant savings opportunities across an organization. Zeborg Advanced Sourcing(SM) is comprehensive sourcing software, with built-in intelligence and proven processes around each indirect spending area so companies can quickly negotiate new best-in-class contracts at significant savings. Zeborg MarketPort(SM) is day-to-day procurement software that delivers hard-dollar savings by enforcing supplier contracts and automating purchasing in the most complex indirect spending areas.
Zeborg delivers permanent hard-dollar savings of over 20% in complex indirect spending areas such as print, distributed computing, labor, media and shipping. Zeborg maximizes savings and ROI by addressing the entire procurement cycle, providing customers with a strategic way to control and manage their purchasing. Zeborg’s software suite, Zeborg ExpenseMap, Zeborg Advanced Sourcing and Zeborg MarketPort, combines robust technology with 1,000 cumulative years of procurement expertise. To date, the technology and expertise that underlie Zeborg have saved the world’s leading corporations more than $5 billion on total purchases of $30 billion. Based in New York, with offices in Los Angeles and Boston, Zeborg’s investors include Willis Stein and Partners and American Express. For more information, please visit [http://www.zeborg.com]