BayanTrade Delivers Cost Savings and Process Improvements Using Commerce One Solutions; E-Marketplace Delivers Rapid Return on Investment for Trading Partners.Business Editors/High-Tech Writers SINGAPORE--(BUSINESS WIRE)--Oct. 24, 2001 Commerce One, Inc., (Nasdaq:CMRC CMRC Canadian Motosport Racing Club CMRC Commerce One Inc. (stock symbol) CMRC Caribbean Marine Research Center CMRC Crime Mapping Research Center CMRC Credit Management Research Centre (UK) ) the e-marketplace company, today announced that BayanTrade, the Philippines' first business-to-business e-marketplace with more than 190 trading partners, is using Commerce One's solutions to help its members achieve significant cost savings, streamline procurement processes and provide access to wider trading opportunities in the Philippines and beyond via the Global Trading Web(TM). BayanTrade has already completed more than 200 auctions for trading partners with total value exceeding US $52 million, and they have processed more than 10,000 purchase orders. The e-marketplace has cut transaction-processing costs from an average of US $5-17 per purchase order to under US $3, based on an internal study by JG Summit, one of the founding members of the e-marketplace. In addition to direct cost savings, the e-marketplace has helped participants cut order-processing time from 18 days to just 48 hours. Additionally, BayanTrade estimates that suppliers are saving between 10 and 68 percent on the cost of goods sold Cost of goods sold The total cost of buying raw materials, and paying for all the factors that go into producing finished goods. cost of goods sold through the auctions, while buyers have saved as much as 50 percent on the procurement of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. through the e-marketplace. "Working closely with Commerce One has enabled BayanTrade to place the Philippines at the forefront of B2B e-commerce (Business to Business Electronic-COMMERCE) Refers to one business selling to another business via the Web. See e-commerce. adoption," said Carol Carreon, chief executive officer, BayanTrade. "Companies are joining our e-marketplace for the simple reason that it delivers real and immediate business benefits. With Commerce One providing the robust and flexible foundation for e-commerce, we have been able to deliver significant process improvement and cost savings by automating trading processes to both suppliers and buyers alike." Founded by six of the largest conglomerates in Philippines, BayanTrade expects to have up to 500 trading partners participating by year-end. As the key solutions' provider for the consortium, BayanTrade is leveraging Commerce One solutions to streamline trading relationships in the Philippines. "BayanTrade is delivering tangible business benefits and sophisticated services and solutions to their trading partners," said, Neil Hudspith, senior vice president and general manager, Commerce One, Asia Pacific. "BayanTrade demonstrates the kind of real-world value e-marketplaces can deliver across a region by enabling seamless, global e-commerce." BayanTrade is expanding and customizing its capabilities to support key industries including construction, electronics and semiconductor manufacturing, utilities, retail and consumer packaged goods Noun 1. packaged goods - groceries that are packaged for sale foodstuff, grocery - (usually plural) consumer goods sold by a grocer plural, plural form - the form of a word that is used to denote more than one , manufacturing and government. The consortium is also developing strategic partnerships for e-payment and e-logistics to roll out new services for their marketplace participants. Through Banyan banyan (băn`yən), species of fig (Ficus bengalensis) of the family Moraceae (mulberry family), native to India, where it is venerated. Its seeds usually germinate in the branches of some tree where they have been dropped by birds. Trade's use of the Commerce One Business Web Services (1) Loosely, any online service delivered over the Web. Such usage appears in articles from non-technical sources, but not in IT-oriented publications, because definition #2 below describes the correct use of the term. Framework it facilitates interoperability among the partners and can enable greater collaboration between all service providers and participants. "BayanTrade member companies account for more than 20 percent of the purchasing strength in the Philippines, enabling a formidable marketplace that can compete on a global scale. As we ramp up Ramp Up To increase a company's operations in anticipation of increased demand. Notes: A company might 'ramp up' operations if they just signed a contract creating substantially more demand for their product. See also: Demand, Economies of Scale we will continue to work with Commerce One to become the premiere electronic trading  This article or section is in need of attention from an expert on the subject.Please help recruit one or [ improve this article] yourself. See the talk page for details. gateway for the South Asia This article is about the geopolitical region in Asia. For geophysical treatments, see Indian subcontinent. South Asia, also known as Southern Asia region," Carreon continued. About BayanTrade The Philippines' premiere business-to-business e-commerce hub, BayanTrade, enables buyers, suppliers, and businesses from anywhere around the globe to trade goods and services online. Founded by six Asia Pacific conglomerates -- Aboitiz Equity Ventures, Inc., Ayala Corp., Benpres Holdings Corp., JG Summit Holdings, Inc., PLDT PLDT Philippine Long Distance Telephone Company and United Laboratories, Inc. -- BayanTrade aims to make the Philippines a major participant in the global economy. About Commerce One Commerce One (Nasdaq:CMRC) is the e-marketplace company. Through its software, services and Global Trading Web(TM) of interconnected business communities, Commerce One enables worldwide commerce on the Internet. With headquarters in Pleasanton, Calif., and offices around the world, Commerce One can be reached by phone in Asia at 65-212 9398 or via the Internet at www.commerceone.com. Forward Looking Statements The foregoing paragraphs include forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements include statements concerning Commerce One's commitment to delivering rapid return on investment to customers as well as its continued working relationship with BayanTrade. The words "believe," "expect," "will" and similar phrases as they relate to Commerce One are intended to identify such forward-looking statements. Such statements reflect the current views and assumptions of Commerce One, and are subject to various risks and uncertainties that could cause actual results to differ materially from expectations. These risks include, but are not limited to, reduction in demand for services and products exchanged on e-marketplaces, the continued cooperation of the parties, the possibility that the e-marketplace services and solutions offered may not meet user expectations, the extent of customer adoption and utilization of the solutions provided, operational difficulties including unexpected delays integrating acquired companies, risks related to the World Wide Web, general economic conditions, intense and increasing competition in the market and volatility of the stock market. For a discussion of these and other risk factors that could affect Commerce One's business, see "Risk Factors" in Commerce One's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2000 and its Quarterly Report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended March 31, 2001. Note to Editors: Commerce One, Many Markets. One Source. Global Trading Web, Commerce One.net, BuySite, MarketSite Operating Environment In computing, an operating environment is the environment in which users run programs, whether in a command line interface, such as in MS-DOS or the Unix shell, or in a graphical user interface, such as in the Macintosh operating system. , Global Trading Platform, Common Business Library, XML XML in full Extensible Markup Language. Markup language developed to be a simplified and more structural version of SGML. It incorporates features of HTML (e.g., hypertext linking), but is designed to overcome some of HTML's limitations. Development Kit, XML Commerce Connector, MarketSite Builder, and SupplyOrder are either trademarks or registered trademarks of Commerce One Operations, Inc. Enterprise Buyer and MarketSet are trademarks of Commerce One Operations, Inc. and SAPMarkets. All other company, product, and brand names are trademarks of their respective owners. |
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