ICG Commerce Doubles RealExchange Liquidity in 6 Months Through Buyer and Supplier Enablement
A Comprehensive Approach to Enabling Buyers and Suppliers Drives Increased Usage of RealExchange
PHILADELPHIA - Monday, June 17, 2002 - ICG Commerce, a leading Procurement Services Provider, reported today a
100% increase in the amount of corporate expenditures running through its "req-to-check" procurement management
platform, RealExchange(SM). The company attributes the rapid and continued increase in purchasing volume to its proven
buyer and supplier enablement capabilities. To date, ICG Commerce has enabled over 90 suppliers and 100 customers to
effectively conduct commerce through RealExchange.
ICG Commerce helps companies source the lowest total cost supply agreements and quickly enables buyers to purchase
against these agreements via RealExchange. By utilizing RealExchange, ICG Commerce customers automate and
streamline their transactional purchasing process, have greater visibility of company purchases and maximize
compliance against preferred supplier contracts. To deliver these benefits to customers, the company takes extensive
measures to ensure that both trading partners are technically capable and organizationally prepared to conduct
commerce.
"It's no secret to anyone who has tried to automate their procurement transactions just how important but difficult it is
to enable and prepare both buyers and suppliers," said Keith Hausmann, Vice President of Sourcing Operations and
Category Implementation for ICG Commerce. "ICG Commerce helps customers overcome these challenges quickly by
taking a holistic approach that goes well beyond customer and supplier integration to include catalog and content
development, the training of suppliers on customers' business processes and comprehensive end-user communication
and training."
Supplier Enablement:
Catalog content and supplier connectivity: ICG Commerce has pre-sourced agreements with top suppliers in
approximately 30 universal buying categories. For these categories, ICG Commerce has pre-built electronic catalogs
and has already integrated preferred suppliers with RealExchange in order to accelerate the enablement process. For
more unique, customer-specific categories, ICG Commerce employs a rapid content development and supplier
integration process. To date, ICG Commerce has built over 30 universal electronic supplier catalogs and 60 customer-
specific supplier catalogs and has fully integrated the respective suppliers for each.
Supplier self-service: ICG Commerce has developed a unique self-service interface that allows suppliers with limited e-
commerce capabilities to electronically receive orders and transmit order acknowledgements and invoice transactions.
Supplier preparation and training: For all categories, ICG Commerce works with suppliers to ensure they are
adequately prepared to meet customers' business requirements by training suppliers on each customer's specific service
and business process requirements.
RealExchange liquidity is also correlated to the buyer's ability and willingness to utilize the solution. "Many companies
are experiencing a slow adoption of e-procurement solutions due to the absence of a thorough customer enablement
process," said David Clary, senior vice president of service delivery for ICG Commerce. "ICG Commerce not only
provides customers with access to RealExchange but also offers comprehensive implementation support that ensures
end-users are ready, willing and able to place orders via our solution."
Customer Enablement:
Business process integration: ICG Commerce diligently documents existing business processes and requirements and
re-engineers them as appropriate to be more efficient and conducive to e-commerce.
Customer connectivity: ICG Commerce experts manage the complete integration of RealExchange with customers'
existing ERP and e-procurement systems where applicable.
Implementation experts in each of the relevant spending categories work closely with customers and suppliers to
manage the seamless execution of business process, technology and supplier relationship changes.
Change management: The company provides a full change management and training program to help companies drive
compliance through company-wide communications and training.
With additional customers and suppliers being implemented on RealExchange in the coming months, ICG Commerce
expects the steady increase in transaction volume to continue.
About ICG Commerce, Inc.
ICG Commerce (www.icgcommerce.com) is the leading Procurement Service Provider for Global 2000 companies.
Leveraging its wealth of purchasing and sourcing expertise and flexible technology, ICG Commerce delivers tailored
services for the procurement of direct and indirect goods. The company is uniquely positioned to deliver substantial
hard-dollar procurement savings. ICG Commerce Inc., a privately held company founded in 1992, is a member of
Internet Capital Group's (Nasdaq: ICGE) network of partner companies.
ICG Commerce
877-935-ICGC [4242]
|