BuildNet and TradePower Partner to Link Residential and Commercial Construction Industry E-Marketplaces.Business Editors/High Tech Writers RESEARCH TRIANGLE PARK Research Triangle Park, research, business, medical, and educational complex situated in central North Carolina. It has an area of 6,900 acres (2,795 hectares) and is 8 × 2 mi (13 × 3 km) in size. Named for the triangle formed by Duke Univ. , N.C.--(BUSINESS WIRE)--Oct. 2, 2000 Companies Exchange-to-Exchange Link to Bring E-Commerce e-commerce, commerce conducted over the Internet, most often via the World Wide Web. E-commerce can apply to purchases made through the Web or to business-to-business activities such as inventory transfers. to the Construction Industry BuildNet, Inc., a leading provider of management software and e-commerce services to homebuilders, dealers and suppliers in the residential construction industry, and TradePower, a leading business-to-business digital marketplace and supply chain solution for the construction industry, today announced a partnership to link BuildNet's e-commerce platform with TradePower's commercial digital marketplace. Through this partnership, TradePower and BuildNet will link their exchanges to help enable the dynamic integration of information throughout the entire supply chain, potentially creating efficiency and saving time and money by streamlining business practices. This exchange-to-exchange (E2E E2E End To End E2E Entry to Employment (UK Government training) E2E Engineer to Engineer E2E Enterprise to Enterprise E2E Employee-to-Employee (enterprise software) ) connectivity should create one of the first and potentially one of the largest E2E marketplaces for the construction industry by bringing together both companies' expansive user communities. The TradePower digital marketplace enables real-time 1. real-time - Describes an application which requires a program to respond to stimuli within some small upper limit of response time (typically milli- or microseconds). Process control at a chemical plant is the classic example. transactions between suppliers and contractors, empowering users to research, request, and purchase construction materials through either the desktop or the Web. TradePower connects contractors and suppliers through a neutral, centralized cen·tral·ize v. cen·tral·ized, cen·tral·iz·ing, cen·tral·iz·es v.tr. 1. To draw into or toward a center; consolidate. 2. , and integrated environment that enhances information delivery and simplifies the purchase and sale of construction supplies. The exchange enables TradePower users to enhance customer satisfaction and improve business operations Business operations are those activities involved in the running of a business for the purpose of producing value for the stakeholders. Compare business processes. The outcome of business operations is the harvesting of value from assets by reducing overhead costs overhead costs see fixed costs. and fulfillment ful·fill also ful·fil tr.v. ful·filled, ful·fill·ing, ful·fills also ful·fils 1. To bring into actuality; effect: fulfilled their promises. 2. errors. BuildNet intends to provide secure Internet-based procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. , e-commerce, and information services See Information Systems. for contractors, dealers, suppliers, and manufacturers in the construction industry. Its Internet-based system should allow users to confirm pricing and product specifications, place purchase orders, and add both product and order information automatically to their trading partners' management systems. "TradePower is committed to leveraging the power of e-commerce to give construction suppliers and contractors the options they need to get their jobs done," said Tom McVeigh, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of TradePower. "By partnering with BuildNet, our combined efforts should offer our customers the industry's largest combination of contractors and suppliers." "BuildNet is pleased to offer its community access to TradePower's marketplace of commercial contractors and suppliers," said Nathan Morton Morton, village (1990 pop. 13,799), Tazewell co., central Ill., in a grain-farming and livestock area; inc. 1877. Food is canned, and tractor parts, washing machines, and pottery are manufactured. , BuildNet CEO. "This 'E2E' connectivity is a natural progression of Internet technology and another example of how BuildNet is empowering its community with technology to increase its productivity and realize business efficiencies." About TradePower TradePower, located in Linthicum Heights, Md., is a leading business-to-business digital marketplace and supply chain solution for the construction industry that streamlines the transfer of information and materials between contractors and suppliers. TradePower provides the tools and resources that link business processes-desktop to desktop-through a centralized, integrated and automated au·to·mate v. au·to·mat·ed, au·to·mat·ing, au·to·mates v.tr. 1. To convert to automatic operation: automate a factory. 2. electronic exchange. The result is improved business operations that reduce overhead costs and fulfillment errors, while enhancing customer satisfaction. For more information, visit www.tradepower.com . About BuildNet, Inc. BuildNet, Inc., located in Research Triangle Park, N.C., is a leading provider of management software and e-commerce services to homebuilders, dealers, and suppliers in the residential construction industry. BuildNet's objective is to be the business-to-business e-commerce solution for the residential construction industry. To reach that objective, BuildNet has designed the BuildNet E-Building Exchange to provide secure Internet-based procurement, e-commerce and information services for homebuilders, dealers, suppliers and manufacturers. The BuildNet E-Building Exchange will allow users to confirm pricing and product specifications, place purchase orders and add both product and order information automatically to builders', dealers', and suppliers' management systems. In addition, manufacturers will be able to place product information and catalogs on the BuildNet E-Building Exchange for access by homebuilders, dealers, and suppliers. BuildNet is testing the BuildNet E-Building Exchange and expects to initiate a limited market rollout in 2000. BuildNet's aggregated software customer base includes homebuilders that accounted for approximately 43% of 1999 U.S. single-family home closings. Learn more about BuildNet by visiting www.buildnet.com . This press release contains 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. . The actual results might differ materially from those projected in the forward-looking statements for various reasons, including BuildNet's limited Internet operating history, the development and rollout of the BuildNet E-Building Exchange and the acceptance of the BuildNet E-Building Exchange by any of BuildNet's existing software customers or any new customers. Additional information concerning factors that could cause actual results to materially differ from those in the forward-looking statements is contained in BuildNet's SEC filings, including its Registration Statement on Form S-1. All other trademarks referenced herein are trademarks and/or registered trademarks of their respective owners. |
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