Transzap(TM) CEO Named 2008 Provider Pro to Know by Supply & Demand Chain Executive Magazine

Mr. Flanagan's inclusion on this year's list, as a Financial Supply Chain Management Pro to Know, recognizes his vision and leadership in creating Spendworks, Transzap's software-as-a-service (SaaS) based ePayables solution, which streamlines and simplifies companies' financial supply chain management processes.

Spendworks, the product of nine years of extensive research and development by Mr. Flanagan and a talented team of professionals, utilizes the most innovative SaaS-based technologies to alleviate unwieldy paper-intensive business operations. It condenses the purchase-to-pay cycle, reducing it from dozens of time-consuming manual steps into one simple electronic application. To date, companies that have deployed Spendworks have reported an 80 percent reduction in process steps and have reduced over 65 percent total document management costs. As a result, Spendworks has made Transzap a market leader in ePayables and digital business process solutions.

"With the help of Spendworks, businesses are able to process and analyze their expenses faster and more accurately than ever before, which helps managers and owners make critical business decisions faster and keep costs down," explained Mr. Flanagan.

Not resting on past achievements, Mr. Flanagan and his team are currently in the process of developing new solutions to further advance their vision for supply chain management and electronic business processes.

About Transzap, Inc.

Transzap services simplify financial and operational practices by automating workflow, replacing paper with digital data. Transzap's web-based software provides unparalleled access to information on how and where a company spends its money. Through its services, Transzap provides one of the most comprehensive Internet-based data exchanges, serving over 4,200 companies and 44,000 users. Services include digital and scanned invoice processing (Spendworks(TM)), data analysis and business intelligence tools (TrendX(TM)), and digital invoice submission and reporting (RevenueWorks(TM)). Transzap has offices inDenver andHouston.

You can find a copy of this news release, as well as additional information, by going to the Transzap website, http://www.transzap.com.

SOURCE Transzap, Inc.; Oildex

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