ChemConnect Exceeds Q3 Targets.Business Editors SAN FRANCISCO--(BUSINESS WIRE)--Oct. 17, 2001 Number of companies trading more than doubles since beginning of year; Transaction volume maintains strength; Online 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. capabilities developed ChemConnect Inc., the company that provides the only end-to-end e-commerce solution for buyers and sellers of chemicals and plastics worldwide, today released details of its Q3 results. ChemConnect announced that the number of companies who have negotiated and concluded transactions on its multiple platforms Refers to two or more operating environments, which typically include the CPU family and operating system. For example, if versions of a program run on Windows and the Macintosh, the software is said to support multiple platforms. has more than doubled since the beginning of the year, and that annualized annualized Of or relating to a variable that has been mathematically converted to a yearly rate. Inflation and interest rates are generally annualized since it is on this basis that these two variables are ordinarily stated and compared. transaction volume is $2.7 billion. During Q3, more of ChemConnect's 7,000 Member companies moved to take advantage of e-commerce tools, including increasing their use of ChemConnect's private auction capabilities. In Q3, there was further evidence of increased rapid adoption by first-time hosts, who conducted one-third of the auctions. Overall auction success rates (as measured by resulting approved contracts) exceeded 90%. Transactions through the industry's most robust back-office fulfillment service also grew, as Envera, which merged with ChemConnect in June, completed--ahead of schedule--the development of the key documents needed for single point-of-contact integrations. Based on CIDX CIDX Chemical Industry Data Exchange CIDX Combined Immunodeficiency, X-Linked CIDX Canadain International DX Club (2.0.1), the 19 documents developed for ChemConnect Members cover order fulfillment Order fulfillment (in BE also: order fulfilment) is in the most general sense the complete process from point of sales inquiry to delivery of a product to the customer. Sometimes Order fulfillment , logistics, invoicing in·voice n. 1. A detailed list of goods shipped or services rendered, with an account of all costs; an itemized bill. 2. The goods or services itemized in an invoice. tr.v. , monitoring, and tracking and now include order creation and response, load tenders, shipment status, and delivery receipts. Envera is now handling more than 16,500 document transactions a month, a 10% increase over last quarter. "During this quarter we concentrated on our internal and external integration strategies, making sure that our merger with Envera proceeded seamlessly for the benefit of both our investors and our Members," said John Robinson Several notable individuals have been named John Robinson: Politicians
Q3 Milestones and Factors Contributing to Growth In addition to its back-office fulfillment services, ChemConnect offers its Members additional products and services for market assessment and advanced negotiation needs. These include consulting, brokerage services, information resources (1) The data and information assets of an organization, department or unit. See data administration. (2) Another name for the Information Systems (IS) or Information Technology (IT) department. See IT. , and both enterprise and modular solutions tailored to Members' evolving needs for buying and selling chemicals and plastics. Founded in 1995, ChemConnect provides the worldwide industry with the broadest chemical and plastics e-commerce systems and services. The company's Members (40% in North American North American named after North America. North American blastomycosis see North American blastomycosis. North American cattle tick see boophilusannulatus. , 25% in Europe and the Middle East, and 30% in the Asia Pacific region) include buyers, sellers, traders Traders Individuals who take positions in securities and their derivatives with the objective of making profits. Traders can make markets by trading the flow. When they do this, their objective is to earn the bid/ask spread. , and supply-chain professionals from companies of all sizes and from all industries. Chemicals, household products, packaging, paints and coatings, plastics, and pulp and paper are all represented, with negotiations conducted daily on the marketplace floor, in the commodities pits, and in private auctions. ChemConnect is privately owned. Its investors include more than 40 of the world's leading chemicals and plastics companies. About ChemConnect ChemConnect, Inc. provides the only end-to-end e-commerce solution for buyers and sellers of chemicals and plastics worldwide. At the front end of the transaction cycle, Members work with ChemConnect to develop effective sourcing and sales plans. To facilitate fast and effective transactions, ChemConnect offers the broadest set of online negotiation tools; each designed to meet particular business requirements. ChemConnect's tools makes it easy for its Members to negotiate with their existing partners as well as establish valuable new relationships. At the back end of the transaction cycle, ChemConnect provides a single point of contact for order fulfillment, logistics, invoicing, and the monitoring and tracking of transactions. For more information, visit www.chemconnect.com. Note to Editors - ChemConnect is a registered trademark of ChemConnect, Inc. All other product, trademark, company or service names mentioned herein are the property of their respective owners. |
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