ICG Commerce Launches New Portal Offering Single Point of Entry to Comprehensive Procurement Technology and Services
ICGCommerce.net First Site to Provide Direct Access to Tools and Support Services Extending Across Complete Procurement Cycle
PHILADELPHIA - Tuesday, July 29, 2003 - ICG Commerce, a leading procurement services provider, announced today
the launch of a new portal, www.icgcommerce.net, offering a single point of entry for accessing the company's full
range of source-to-pay technology and process support services.
By launching icgcommerce.net, ICG Commerce is bringing to the market the first portal combining resources and
capabilities that extend across the complete procurement cycle – from strategic sourcing to transaction management to
ongoing category management. The site's features allow customers to quickly and securely access sourcing tools, place
and manage orders and payments while providing greater visibility into purchase status information.
"Our customers understand the importance of taking a holistic approach to sourcing, purchasing and managing buyer
and supplier performance in order to maximize procurement cost reductions year after year," said Chris Vavricka, ICG
Commerce chief operating officer. "We have further enhanced our technology and customer experience by providing a
single Web interface to our comprehensive suite of sourcing and buying tools and adding features that drive more real-
time interaction between our buyers and suppliers."
ICGCommerce.net includes two primary procurement modules: RealSourceSM and RealExchangeSM. RealSource is a
fully integrated, Web-based eSourcing platform that supports both simple and complex sourcing requirements. Through
RealSource, customers gain access to functionality that goes well beyond simple reverse auctions to help them
negotiate contracts and select suppliers that offer the best total cost. Customers can leverage ICG Commerce's deep
sourcing experience by accessing pre-built sourcing templates, tools and an extensive supplier database online.
Once supplier relationships have been formed and companies are ready to begin ordering against contracts and
realizing the savings that have been identified during the sourcing process, customers and suppliers can execute the
entire purchase-to-pay process through RealExchange. This hosted solution allows users to create and approve
requisitions, manage purchase orders, check order status and manage payments. ICG Commerce's customer support
teams also proactively expedite purchase orders and resolve any supplier invoice issues on a customer's behalf.
RealExchange can be integrated with all major enterprise resource planning and financial systems.
ICGCommerce.net provides customers access to the following on a fully hosted basis:
eSourcing tools: eRFX, eAuction and Decision Optimization
Sourcing content: complete supplier database and category specific RFx templates
A fully integrated network of company-specific or ICG Commerce preferred suppliers accessible through a web-based
e-procurement platform or a company's existing systems
A portfolio of uniform supplier catalogs with robust, proactively managed content
Fully automated order management capabilities, including online customer care, order management and issue
resolution
Financial settlement capabilities including ICG Commerce certified invoicing
Level three spend data, including detailed item-level price and quantity information by user and location, for all
RealExchange purchases
"This portal is a key component of our offering moving forward," said Edward H. West, ICG Commerce chief
executive officer. "It provides a link between all ICG Commerce online resources for helping companies identify
savings opportunities, realize those savings through efficient transaction management and continuously improve on
them through ongoing spend visibility and management."
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About ICG Commerce, Inc.
ICG Commerce (www.icgcommerce.com) is the leading Procurement Services Provider delivering total procurement
cost savings through an unmatched combination of deep expertise and hosted technology. ICG Commerce provides a
comprehensive range of solutions to help companies identify savings through sourcing, realize savings through
implementation and transaction management and drive continuous improvements through category management. ICG
Commerce Inc., a privately held company founded in 1992, is a member of Internet Capital Group's (Nasdaq: ICGE)
network of partner companies and has been honored as a Forbes' Best of the Web: B2B and UPSIDE Magazine Hot
100 company as well as had its executives recognized among iSource Business "Pros to Know".
Contacts:
Genevieve Brill
ICG Commerce
215-649-1494
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