WALTHAM, MA -- (Marketwired) -- 06/18/13 -- MetraTech Corp., the leading provider of Agreements-Based Billing, Commerce and Compensation solutions, today announced that Achilles, a global software-as-a-service (SaaS) provider of supply chain management services, has selected the MetraNet® billing and settlement platform to support its global business growth.
Achilles manages the supply chains of 800 of the world's largest companies to reduce the risk, time and cost associated with procurement activity. The company verifies and keeps up-to-date data of around 80,000 suppliers across 23 countries to ensure they are operating to the highest possible standards. Achilles recently invested £ 12 million in the development of new global platforms, which will offer a true SaaS solution to customers looking to manage their data anytime, anywhere -- with no downtime for maintenance.
Achilles selected MetraNet because the system complements its own global SaaS platform. MetraNet is so advanced that it can work across multiple markets and countries, processing large volumes of transactions each day. In addition, new products and pricing can be deployed quickly, and all billing and settlement functionality is managed on one platform.
"We welcome Achilles to our growing family of SaaS leaders who want the flexibility to differentiate customer offerings and expand globally to reach new customers and partners," said Scott Swartz, founder and CEO MetraTech Corp. "MetraTech will work alongside Achilles to innovate and automate the supply chain management process for the benefit of customers, suppliers and buyers around the globe."
Adrian Chamberlain, CEO of Achilles, said, "Achilles is committed to providing the best experience and service to our community of buyers and suppliers around the world, so it was a natural step to enlist the support of a global leader in billing solutions. Having MetraTech, a tried and tested provider, manage our billing, our team can focus on delivering further service innovation and growth in our core business operations."
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MetraTech Corp. simplifies and enables global commerce innovation, while helping businesses respond to an ever-changing customer and partner relationship landscape. We empower businesses to embrace change through a unique Agreements-Based Billing, Commerce and Compensation platform that models and supports fluid, personalized, multi-party agreements for customers, partners and suppliers. We automate business processes and business models to address rapidly changing or complex business strategies. Our products are deployed globally, and our customers use MetraTech to innovatively create and securely collect revenue, provide settlement to partners and manage their customer lifecycle in 12 languages, 28 currencies and 90 countries. Customers include Achilles, Arkadin, Bell, Concur, The Depository Trust and Clearing Corporation (DTCC), Cetip, The City of Chicago, GRU São Paulo International Airport, GXS, InterCall, LifeLock, mBlox, Microsoft, PGi, O'Hare Airport, Telia Sonera, TELUS, and TELMORE. The company is headquartered in Boston, with offices in London, Paris and Rio de Janeiro. MetraTech is a venture-backed, privately held company whose investors include Accel Partners, Meritech Capital and Vesbridge Partners. For more information, please visit www.metratech.com.
Achilles helps businesses identify and manage potential risks in their supply chain in order to protect people, planet and profit. Achilles identifies, qualifies, evaluates and monitors suppliers on behalf of some of the world's largest corporations. We carry out thorough verification of supplier data and undertake thousands of on-site audits to ensure the supply chain is compliant. This enables buyers and suppliers to form long-term, mutually beneficial and trusted relationships. We raise global standards by forming communities of buyers and suppliers across a wide range of industries -- including automotive, construction, ICT, finance, mining and cement, oil and gas, public sector, service industries, transport and utilities.
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