Bidcom and PurchasePro.com Announce Partnership to Create Vertical e-Marketplace for the Building and Real Estate Industries.Business Editors SAN FRANCISCO San Francisco (săn frănsĭs`kō), city (1990 pop. 723,959), coextensive with San Francisco co., W Calif., on the tip of a peninsula between the Pacific Ocean and San Francisco Bay, which are connected by the strait known as the Golden and LAS VEGAS--(BUSINESS WIRE)--April 10, 2000 Partnership Provides Building Industry Buyers and Sellers Significant Cost Savings and Access to New Sales Channels Bidcom, Inc., the building and real estate industries leading e-business services provider and PurchasePro.com (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :PPRO PPRO Personal Public Relations Officer (Church of Scientology) ), a leader in Internet business-to-business electronic commerce, today announced a strategic development, sales and marketing partnership. PurchasePro.com's construction industry e-commerce exchange engine in partnership with Bidcom will provide Bidcom e-Marketplace users the ability to capitalize on Cap´i`tal`ize on` v. t. 1. To turn (an opportunity) to one's advantage; to take advantage of (a situation); to profit from; as, to capitalize on an opponent's mistakes s>. PurchasePro.com's advanced, cost-effective construction and real estate services for connecting buyers and suppliers via browser on the Internet. "While other industry vendors were rushing to choose and announce partners with solutions built for horizontal markets, Bidcom was focusing exclusively on the construction industry supply chain and material procurement. The result is a strategic alliance with PurchasePro.com's AEC AEC US Atomic Energy Commission Noun 1. AEC - a former executive agency (from 1946 to 1974) that was responsible for research into atomic energy and its peacetime uses in the United States Atomic Energy Commission Connect solution with the ability to service Bidcom's target market," said Kent Allen, senior e-commerce analyst with the Aberdeen Group Aberdeen Group is a provider of business-related research services. It has its headquarters in Boston, Massachusetts and belongs to the Harte-Hanks group. Founded in 1988, Aberdeen's research is used by over 2. . "PurchasePro.com's approach to buying and selling solidifies Bidcom's existing suite of subscription-based process management services, while the AEC Connect product provides the most vertically targeted e-commerce platform available to building and real estate industry professionals." The alliance will allow Bidcom to leverage PurchasePro.com's AEC Connect platform, a business-to-business e-commerce exchange solution specifically designed for architects, engineers and contractors, to provide the only vertically targeted Internet platform for building and real estate industry professionals that want to buy and sell material, equipment, services and operating supplies online. "Aligning with PurchasePro.com's AEC Connect solution enables Bidcom to deliver on its commitment to create the most comprehensive, targeted online market for the building and real estate industries, putting the Bidcom e-Marketplace significantly ahead of others in this vertical," said Daryl Magana, Bidcom founder and chairman. Signifying PurchasePro.com's entree into the construction and real estate market, the alliance will give PurchasePro.com's members access to Bidcom's comprehensive e-business environment, which allows building industry professionals to communicate and collaborate, manage business processes, conduct e-commerce and access valuable industry content. PurchasePro.com's AEC Connect product will also be featured as a preferred e-commerce provider for businesses joining the Bidcom e-Marketplace, providing the companies with a complete e-commerce solution that enables them to electronically buy more efficiently and effectively. The PurchasePro.com and Bidcom strategic partnership demonstrates the effectiveness of PurchasePro.com's leading ASP exchange technology to power leading vertical marketplaces. The relationship also gives members of the PurchasePro.com network new industry specific business opportunities, as well as valuable construction and real estate industry content. As part of the strategic partnership, PurchasePro.com's AEC Connect engine, and Bidcom will also co-develop and integrate a contract payment system that will further advance the Bidcom e-Marketplace. By automating the arcane and complex payment process between owners, construction managers, contractors and suppliers, including the change order and submittal processes, the combined solution will further streamline efficiency and drive down costs for members of the new e-marketplace. "PurchasePro.com is the ideal partner for Bidcom because they have a keen understanding of our market and a custom-tailored strategy for servicing the unique needs of the building and real estate industries' supply chain," said Daryl Magana, Bidcom founder and chairman. "In addition, the PurchasePro.com network has existing partnerships in place with leading companies like Sprint and Office Depot Office Depot (NYSE: ODP) is one of the world's leading suppliers of office products and services. The Company's selection of brand name office supplies includes business machines, computers, computer software and office furniture, while its business services encompass copying, to bring the benefits of e-commerce to businesses of all sizes, including small and middle market buyers and sellers, which comprise the overwhelming majority of companies in the fragmented construction and real estate supply chain. We believe the industry is moving toward a common standard, and we have focused our partnership decision on making the right move for our customers." "Our partnership with Bidcom exemplifies our commitment to providing our quickly expanding base of customers with the most advanced, scalable, end-to-end procurement solutions," said Charles E. Johnson For the U.S. politician, see . Charles E. Johnson was a New York burglar who was listed on the FBI's Ten Most Wanted during 1953. While still a teenager, Johnson was first arrested for burglary in 1921. , Jr., chairman and chief executive officer of PurchasePro.com. "Our partnership further exemplifies our expertise in connecting buyers and suppliers across all verticals. PurchasePro.com will continue partnering with the leader in each vertical market, allowing us to achieve a critical mass of businesses across all industries." Strategic Alliance Brings Value-Added Features Within the Bidcom e-Marketplace, registered users will be able to source materials Noun 1. source materials - publications from which information is obtained source - a document (or organization) from which information is obtained; "the reporter had two sources for the story" , estimate material costs, order supplies, automate RFQs (Requests for Quotation) and payment, run reports and integrate these transactions into existing ERP (Enterprise Resource Planning) An integrated information system that serves all departments within an enterprise. Evolving out of the manufacturing industry, ERP implies the use of packaged software rather than proprietary software written by or for one customer. systems. Also, by using the "Buy/Sell" tab located on the Bidcom e-Marketplace toolbar A row or column of on-screen buttons used to activate functions in the application. Many toolbars are customizable, letting you add and delete buttons as required. Toolbars may be fixed in position or may float, which means they can be dragged to a more convenient location in the , buyers and sellers can now establish a direct link to one another, thereby improving communications, and efficiency between the two groups and driving down the costs of doing business. Bidcom will also provide access to hosted catalogues through the Bidcom e-Marketplace. In addition, buyers and sellers within the Bidcom e-Marketplace will gain lower purchasing costs and access to many new suppliers of building- and real estate industry-specific materials and services; leverage PurchasePro.com's leading exchange browser to reduce costs and increase efficiency through automated corporate procurement; have access to a one-stop-shop for both vertical and horizontal procurement through existing relationships with MRO MRO In currencies, this is the abbreviation for the Mauritanian Ouguiya. Notes: The currency market, also known as the Foreign Exchange market, is the largest financial market in the world, with a daily average volume of over US $1 trillion. (maintenance, repair and operation) suppliers; leverage PurchasePro.com's technology to create private marketplaces for their communities within the Bidcom e-Marketplace; and gain increased access to customers and lower costs for incremental acquisition of customers. Industry Leaders See Clear Benefits "Materials procurement has always been a major headache for construction projects," said Jerry Lea, Senior Vice President, Hines, one of the world's largest privately owned real estate firms based in Houston, Texas “Houston” redirects here. For other uses, see Houston (disambiguation). Houston (pronounced /'hjuːstən/) is the largest city in the state of Texas and the . "Bidcom's vision of an integrated project management and materials procurement solution really targets the major pain areas in the construction project lifecycle, such as change orders, materials logistics and operational efficiencies." "Bidcom's e-Marketplace is a powerful platform for taking the babble out of building," said Jim Gray, Executive Vice President of Gray Construction, a $400mm design/build firm based in Lexington, Kentucky Lexington, Kentucky, United States, known as the "Horse Capital of the World," is located in the heart of the Bluegrass region. It is the second-largest city in Kentucky, after Louisville, Kentucky,[1] and the 68th largest in the United States. , with clients around the globe. "It's about time It's About Time may refer to:
About PurchasePro.com and AEC Connect PurchasePro.com Inc. (NASDAQ: PPRO), a leader in Internet business-to-business electronic commerce services, creates public and private marketplaces and exchanges where businesses can buy and sell a wide range of products and services in an efficient, competitive and cost-effective manner. PurchasePro.com's AEC Connect solution has designed its marketplaces to meet the needs of architects, engineers and contractors, and their strategic business partners. A key element of PurchasePro.com's strategy is to develop sales and marketing relationships with vendors including AOL (A division of Time Warner, Inc., New York, NY, www.aol.com) The world's largest online information service with access to the Internet, e-mail, chat rooms and a variety of databases and services. , IBM (International Business Machines Corporation, Armonk, NY, www.ibm.com) The world's largest computer company. IBM's product lines include the S/390 mainframes (zSeries), AS/400 midrange business systems (iSeries), RS/6000 workstations and servers (pSeries), Intel-based servers (xSeries) , Sprint Corp., Advanstar Communications and Office Depot Inc. The company provides extensive support and training programs. For more information, call toll free at 1-888-830-4600 or in Las Vegas Las Vegas (läs vā`gəs), city (1990 pop. 258,295), seat of Clark co., S Nev.; inc. 1911. It is the largest city in Nevada and the center of one of the fastest-growing urban areas in the United States. at 702-316-7000, or visit www.purchasepro.com. About Bidcom Bidcom, Inc., the building and real estate industries leading e-business services provider, helps companies manage risk, drive down costs, and complete building projects on time. Bidcom's services are delivered through the Bidcom e-Marketplace -- a comprehensive e-business environment that allows building industry professionals to communicate and collaborate, manage business processes, conduct e-commerce and access valuable industry content. Bidcom's easy-to-use services support all participants throughout the complete lifecycle of multiple building projects, including: owners and real estate developers; architects and design professionals; general contractors and subcontractors; and facilities managers. Founded in 1997 to help create predictability and drive customer profitability Customer profitability (CP) is the difference between the revenues earned from and the costs associated with the customer relationship in a specified period. According to Philip Kotler,"a profitable customer is a person,household or a company that overtime,yields a revenue , Bidcom serves the $3.2 trillion building and real estate industry, the world's second-largest vertical industry. Headquartered in San Francisco, Calif., with offices around the globe, Bidcom's international customers include: San Francisco Department of Public Works public works pl.n. Construction projects, such as highways or dams, financed by public funds and constructed by a government for the benefit or use of the general public. Noun 1. , Federated Connected and treated as one. See federated database and federated directories. Department Stores This is a list of department stores. In the case of department store groups the location of the flagship store is given. This list does not include large specialist stores, which sometimes resemble department stores. , Swinerton & Walberg Builders, Ford Motor Company, BancBoston Brazil, The University of Chicago, Stanford University Stanford University, at Stanford, Calif.; coeducational; chartered 1885, opened 1891 as Leland Stanford Junior Univ. (still the legal name). The original campus was designed by Frederick Law Olmsted. David Starr Jordan was its first president. , Visa and Sun Microsystems Sun Microsystems, Inc. (NASDAQ: JAVA[3]) is an American vendor of computers, computer components, computer software, and information-technology services, founded on 24 February 1982. , Inc. Bidcom is privately held and has received venture financing from Internet Capital Group, GE Corporation, Hines, Partech International and Oracle Corporation. For more information about Bidcom, Inc, please call 415/882-1888, or find us on the World Wide Web at http://www.bidcom.com./ NOTE TO EDITORS: PurchasePro.com is a trademark of PurchasePro.com, Inc. All other trademarks or registered trademarks are the property of their respective owners. This press release includes forward-looking statements which are subject to a number of risks and uncertainties, including the risks and uncertainties associated with rapidly changing technologies such as the Internet, the Internet, the, international computer network linking together thousands of individual networks at military and government agencies, educational institutions, nonprofit organizations, industrial and financial corporations of all sizes, and commercial enterprises risks of technology development and the risks of competition. Actual results could differ materially. For more information about these risks and uncertainties, see the SEC filings of PurchasePro.com, Inc., including the section entitled "Factors That May Affect Results" in its 10-K filing for the period ended December 31, 1999, which is available from the company on request and on the Internet at the SEC's Website, www.sec.gov. |
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