Commerce One, the Business Internet Company, today announced that Bidvest's online e-marketplace, mymarket.com, continues to gain momentum by adding two leading African companies to its customer base. Netcare, Africa's largest private hospital and doctor network, and Fedics, a leading South African company in the outsourced catering market, have selected mymarket.com to help centralise their diverse procurement activities.
Bidvest, a holding company invested in the industrial-services sector with 750 companies group-wide, uses Commerce One solutions to power an open marketplace and automate the entire source-to-pay process for its customers. Commerce One helps Bidvest customers lower administrative costs, improve order times and manage contract negotiations more efficiently and effectively.
"Commerce One has a proven track record in reducing costs and streamlining the procurement process, and our customers have already seen substantial benefits," said Philip Katz, managing director of mymarket.com.
"Buyers are consolidating the number of vendors they work with and better managing the entire source-to-pay process. Meanwhile, suppliers are enjoying increases of as much as 30% to 40% in the number of transactions from existing customers. We expect the total value of transactions will exceed $4 million per month by the end of the year."
Mymarket.com is a hosted international e-marketplace targeting the catering, hospitality and healthcare industries, with more than 300 buyers and 200 suppliers transacting daily. The marketplace also serves as Bidvest's exclusive electronic-trading platform, with every Bidvest company scheduled to join the exchange within two years. Currently, mymarket.com has more than 70 000 products electronically catalogued.
"Powered by Commerce One sourcing and procurement solutions, mymarket.com offers a low-cost, high reward entry into e-commerce for buyers and suppliers," said Michael Bosman, CEO of Commerce One South Africa, the sole distributor for Commerce One in the region.
"Bidvest clearly understands that reducing friction between trading partners can directly impact the bottom line, and we are pleased that they are realising significant cost savings using our proven solutions."
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