SOURCE: Emptoris, Inc.

Emptoris, Inc.

January 21, 2010 14:40 ET

China National Offshore Oil Corporation (CNOOC) to Implement Emptoris Suite Solutions

BEIJING and BURLINGTON, MA--(Marketwire - January 21, 2010) - Emptoris, Inc., a leading provider of enterprise Supply and Contract Management solutions, today announced that the China National Offshore Oil Corporation (CNOOC), the third-largest national oil company in China with sales of over RMB 190 billion, has chosen to leverage Emptoris Supply and Contract Management Solutions for its global procurement and operations.

"CNOOC has continuously strengthened its competitiveness, and established a reputation for efficiency, through the application of intelligent strategies and intelligent systems. By leveraging the best-in-class software solutions that Emptoris offers, CNOOC plans to further elevate the efficiency and transparency of its procurement processes," said Mr. Guohai Lin, General Manager, Group Procurement Department of China National Offshore Oil Corporation (CNOOC).

CNOOC is widely recognized in the capital markets and the global oil & gas industry for its strong profitability, transparent corporate governance, and promising prospects for growth. For three consecutive years, CNOOC Limited, which is owned by CNOOC Corp., has been recognized as the "Best Managed Chinese Company" by Finance Asia -- and CNOOC's China Oilfield Services Ltd. has been recommended by Standard & Poor's as one of the Greater China's top 25 "Best Performing Stocks."

CNOOC, which is also China's largest offshore oil and natural gas producer, will implement the Emptoris entire Supply and Contract Management Solutions to improve the overall competitiveness, transparency and efficiency of its procurement operations.

"We're obviously quite proud to be working with CNOOC in implementing a technology infrastructure that will serve as a model for other Chinese national companies -- and will serve to strengthen the value-creation and competitiveness of one of the world's leading oil companies," said William (Yuxin) Li, General Manager and Group Vice President for China for Emptoris, Inc. "Only Emptoris could provide CNOOC with a solution that met its standards for flexibility, capability and performance."

Emptoris provides more flexibility and more robust capabilities than available in traditional ERP systems. Emptoris solutions are also designed and enhanced specifically for Chinese companies, offering Chinese language, currencies and local support. Emptoris offers its solutions and customer support in more than a dozen global languages including Chinese/Mandarin, English, German, Spanish, Japanese and Russian. Emptoris also recently announced the opening of new offices in Shanghai.

"Emptoris offers Chinese companies, and global companies with Chinese operations, a suite of solutions and support designed for the Chinese market, including Chinese language, currencies and customer support. We're proud to be working with an organization the caliber of the China National Offshore Oil Corporation -- and to implement technologies that will be a model for other Chinese companies," said Patrick D. Quirk, President and Chief Executive Officer of Emptoris, Inc.

The Emptoris Sourcing solution allows companies to realise the best value, not just the best price, from its supply base by factoring cost, risk, and performance drivers into decision-making. Emptoris Sourcing automates all sourcing events from reverse auctions to complex multi-stage negotiations. Emptoris Contract Management allows companies to structure stronger contracts, streamline the contracting process, and improve compliance. The solution automates the contract lifecycle process from creation and execution, through performance monitoring, analysis, and re-negotiation. Emptoris solutions are consistently recognised by leading independent analyst firms as the market's leading solutions. Emptoris was positioned in the "leaders quadrant" in the Gartner research report, "Magic Quadrant for Sourcing Application Suites" -- and received the highest score for "Current Product Offering" in "The Forrester Wave: Contract Life-Cycle Management."

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