Direct Procurement: JAGGAER and FACTON Partnership

Troy, MI (PRWEB) July 27, 2017

Vienna | Mason, OH | JAGGAER, provider of the world’s most comprehensive Source to Pay (S2P) suite for indirect and direct spend solutions, and FACTON GmbH, the leading provider in enterprise product costing for the automotive, aerospace, mechanical engineering, high-tech and electronics sectors, are forming a strategic partnership to provide their customers with digital, efficient processes for the entire production process. The integration of product costing calculations and should cost models into the procurement platform offers huge advantages, especially for companies from the manufacturing sector.

Nearly 70% of all production costs are already established during the early phases of product development, and once production has started, it is difficult to change them. This is why it is especially important for procurement, designers and cost analysts to work together closely as soon as a new idea is introduced so that new products can be planned and produced at minimum cost. Companies in integrated, global supply chains in particular can only achieve long-term competitive advantages and expand market shares by following structured and standardized procedures. To reach that goal, companies first need integrated processes that are used in all departments and information that is centrally accessible. This is where the partnership between JAGGAER and FACTON comes in. Previously, if companies using the FACTON solution for product costing wanted to analyze the results in the JAGGAER procurement platform, they had to either extract the data from the calculation software and add it to the bid comparisons manually, or they simply were unable to use the information for bid comparisons because the data transfer process took too long. The partner solution now offers companies that used Excel for their costing calculations, and then shared the information manually with procurement, the option to use a completely integrated digital process.

Efficiency and Savings in the Production Process

By integrating both systems, data can now be transferred automatically. This eliminates the time-consuming and opaque manual process, and reduces the chance of errors. The costs added to the FACTON software by cost analysts can then be directly compared to supplier offers in JAGGAER, facilitating the structured communication of target values and specifications with procurement. Purchasers can see internal calculations (should costing) and additional offers in the offer comparison, which makes it easier to identify cost drivers and weak points in the supplier’s offers. This accelerates processes, offers an improved basis for decisions in the award process, and makes it easier to control the target prices of purchased parts. Potential savings can also be identified easily, starting from when the product idea is first introduced. In addition to drastically reducing process costs, procurement can also secure better material prices and sustainably increase efficiency in the production process.

In the second phase of the partnership, complex bills of material (BOM) will also be transferred from FACTON so that procurement can easily collect up-to-date prices for the entire BOM and add them to their calculations efficiently. The costs of complex products can thus be determined at an early stage and at any other point in their lifecycle.

Strategic Partnership with Great Potential

“The point of overlap between procurement and should costing carries huge potential,” says Thomas Dieringer, Managing Director of JAGGAER EMEA. “Many of our customers are already working with the FACTON suite. Big companies often have hundreds of complex calculations to run per month that are relevant for procurement. If these no longer have to be edited manually and collected multiple times, this instantly reduces process costs.”

Alexander M. Swoboda, CEO of FACTON GmbH, sees the long-term potential of the partnership: “Production structures are getting more and more complex. In order to stay competitive companies must closely work together with their partners. This cooperation is at the heart of Enterprise Product Costing. We are delighted that together with JAGGAER we can open new and innovative opportunities for our clients in this field.”

About FACTON

The FACTON EPC Suite is the leading Enterprise Product Costing (EPC) solution for the automotive, aerospace, mechanical engineering and electronics industries. Its specific solutions offer robust answers to the requirements of executive management and individual departments within the enterprise. FACTON EPC enables standardized, enterprise-wide costing independent of location and department for maximum product cost transparency throughout every phase of the product life cycle. Businesses accelerate their costing, achieve pinpoint cost accuracy and secure their profitability.

FACTON was founded in 1998 and has locations in Potsdam, Dresden, Stuttgart and Detroit. Hasso Plattner, founder and chairman of the supervisory board of SAP AG, has supported this innovative company since 2006. The international portfolio of customers includes Ford Motor Company, Henniges Automotive, DURA Automotive Systems, Airbus, Mahle Behr, MANN+HUMMEL, Porsche and other renowned manufacturers.

About JAGGAER: Global Indirect and Direct Spend Management Solutions

JAGGAER offers the only comprehensive and complete spend solution suites enabling commerce between any businesses, anywhere. We pioneered spend solutions over two decades ago and have continued to lead the innovation curve by listening to customers and analyzing the market. Our solutions suites are trusted by the world's largest higher education, manufacturing, pharmaceutical, life sciences, automotive, engineering, construction equipment, serial production and medical technology companies. Our indirect and direct spend solutions suites collectively form a global network processing billions of dollars in annual spend between 900+ customers and 2.5 million suppliers. JAGGAER’s SaaS based, Source to Pay (S2P) solutions enable an efficient relationship between buyers and suppliers, covering the entire spectrum of needs, from spend analysis to sourcing, through contract and supplier relationship management. Additionally, JAGGAER holds 38 patents, more than any other spend management company, and acquired POOL4TOOL in 2017. Learn how our solutions can power your organization.

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FACTON Press Contact Global

Iris Wedepohl | Senior Marketing & PR Manager | FACTON GmbH | Phone.: +49 (0) 331 97 99 2-439 | iris.wedepohl[at]facton.com | http://www.facton.com

FACTON Press Contact USA

Valerie Valentine | Marketing Manager | FACTON Inc. | Phone: +1 (248) 761-2255 | valerie.valentine[at]facton.com | http://www.facton.com/en

JAGGAER Press Contact

Kathrin Kornfeld | Corporate Communications Manager | Wienerbergstraße 11 | A-1100 Vienna | Phone: +43 (1) 80 490 80 | Email: kathrin.kornfeld[at]pool4tool.com | http://www.JAGGAER.com | http://www.pool4tool.com

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Full Service Event Graphics and Trade Show Solutions Company Established Following the Merger of Two Industry Heavyweights

Ontario, California (PRWEB) July 27, 2017

As a merger of respected brands from the print and exhibition industries, AGSoest is able to offer full service trade show solutions, graphics and event management. The name for the new company was chosen to represent their partnership, combined strength and industry experience.

Soest & Associates, Inc has been producing trade show booths and exhibition solutions for clients like Microsoft and Walt Disney since 1987. Their former President, and now Director of AGSoest, Fred Van Soest, Jr. however, has been in the industry since the 1970s.

Commenting on the merger, Mr Van Soest said, “It’s rare to find two companies so perfectly aligned in terms of vision and services. Combining the trade show experience and industry knowledge of Soest & Associates with the print capability and infrastructure of The AmGraph Group made perfect business sense and added instant value for customers of both businesses.”

The AmGraph Group is a hybrid of a creative advertising agency combined with a premium quality print production facility. The nationwide supplier of premium print, graphic and digital solutions for brands includes outdoor advertising company AGMedia, retail design and graphics company AGRetail, decorative window film company HDClear and barricade company Mall Wall.

Brian Stewart, President of The AmGraph Group added, “I’m delighted to have formed a partnership with Fred and the entire team at Soest & Associates. Together, we believe our clients will benefit from the complimentary services and experience and enjoy an unparalleled level of service.”

In merging, Soest & Associates and The AmGraph Group have created an end-to-end event partner. In addition to trade show booth design, production, consultancy and event management, AGSoest is able to manage all print in-house.

Speaking on this augmented solution, Mr Van Soest, Jr remarked, “The benefit of having complete end-to-end management and large format printing in-house cannot be underestimated. AGSoest can offer faster turn-around times, provide clients with even greater flexibility and importantly we retain complete control over the quality of event graphics.”

More information on the merger of The AmGraph Group with Soest & Associates Inc, and details of the brand implementation, large format graphic and professional trade show solutions available through AGSoest, can be found on their new website at http://www.AGSoest.com.

Read the full story at http://www.prweb.com/releases/agsoest/merger/prweb14544254.htm

New WCRI Study Helps Policymakers Monitor Changes in Prices Paid for Medical Care of Injured Workers in 31 States

Cambridge, MA (PRWEB) July 27, 2017

As policymakers and system stakeholders in many states debate rising medical costs, the Workers Compensation Research Institute (WCRI) released a new study today that helps monitor changes in prices paid for medical professional services as well as the impact of fee schedule and network changes on price trends.

The study, WCRI Medical Price Index for Workers’ Compensation, Ninth Edition (MPI-WC), tracks medical prices paid in 31 states over a nine-year span from 2008 to 2016 for professional services billed by physicians, physical therapists, and chiropractors. The medical services fall into eight groups: evaluation and management, physical medicine, surgery, major radiology, minor radiology, neurological testing, pain management injections, and emergency care.

“If you are a policymaker or other stakeholder and want to understand the growth of medical prices in workers’ compensation, you would benefit from this study,” said Ramona Tanabe, WCRI’s executive vice president and in-house counsel. “If you are in one of the many states that implemented fee schedule changes recently or are considering such changes in the future, this study shows how certain policy initiatives impact medical prices.”

New in this edition is a discussion of the impact of recent fee schedule changes on prices in North Carolina and Colorado between 2015 and 2016. Below are key findings from these two states. Other states with major fee schedule changes from earlier years are also discussed in this study.

  • North Carolina implemented new fee schedule rates for professional services in July 2015. This study found that the overall prices paid for professional services in the state increased 18 percent from 2014 to 2016, while prices in most other fee schedule states changed little during this period. Compared with the other 30 states included in this study, the overall prices paid in North Carolina moved from being among the lowest of the study states in 2014 to being fairly typical of the 31 states in 2016, after the fee schedule change.
  • Colorado revised its fee schedule for professional services to incorporate the use of relative values from Medicare’s resource-based relative value scale (RBRVS) effective January 2016. This study found that the policy change resulted in large price increases for some types of services and decreases for others in Colorado from 2015 to 2016, while the overall prices remained stable.

This study also found that most states with no fee schedules experienced faster growth in prices paid for professional services compared with states with fee schedules–the median growth rate among these non-fee schedule states was 24 percent from 2008 to 2016 compared with the median growth rate of 7 percent among the fee schedule states. A recent trend in 2015 and 2016 reported by this study is worth noting–price growth in a number of non-fee schedule states slowed down, which may be related to increases in network participation.

The 31 states included in the MPI-WC, which represent 85 percent of the workers’ compensation benefits paid in the United States, are Arizona, Arkansas, California, Colorado, Connecticut, Florida, Georgia, Illinois, Indiana, Iowa, Kansas, Kentucky, Louisiana, Maryland, Massachusetts, Michigan, Minnesota, Mississippi, Missouri, Nebraska, New Jersey, New York, North Carolina, Oklahoma, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Virginia, and Wisconsin.

The authors of this study are Dr. Rebecca Yang and Dr. Olesya Fomenko. Click on the following link to download a FREE copy of this report: https://www.wcrinet.org/reports/wcri-medical-price-index-for-workers-compensation-ninth-edition-mpi-wc.

The Cambridge-based WCRI is recognized as a leader in providing high-quality, objective information about public policy issues involving workers' compensation systems.

ABOUT WCRI:

The Workers Compensation Research Institute (WCRI) is an independent, not-for-profit research organization based in Cambridge, MA. Organized in late 1983, the Institute does not take positions on the issues it researches; rather, it provides information obtained through studies and data collection efforts, which conform to recognized scientific methods. Objectivity is further ensured through rigorous, unbiased peer review procedures. WCRI's diverse membership includes employers; insurers; governmental entities; managed care companies; health care providers; insurance regulators; state labor organizations; and state administrative agencies in the U.S., Canada, Australia, and New Zealand.

Read the full story at http://www.prweb.com/releases/2017/07/prweb14547773.htm