Commerce One Customers Report Approximately $2 Billion in Auctions; Customers Realize Significant Cost Savings for Both Sourcing and Liquidation.Business Editors/High-tech Writers LAS VEGAS--(BUSINESS WIRE)--Sept. 18, 2000 At the eLink 2000 conference 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. today, 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 leader in global 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. for business, announced that based on customer interviews, approximately $2 billion worth of goods were traded in auctions for customers worldwide, resulting in cost savings of up to 50% on sourcing. In addition, customers have cut approximately two to three weeks off the typical negotiation cycle, enabling them to rapidly recognize profits from liquidation The collection of assets belonging to a debtor to be applied to the discharge of his or her outstanding debts. A type of proceeding pursuant to federal Bankruptcy of excess goods. Commerce One is currently running auctions for 22 customers worldwide, ranging from smaller net market makers to large enterprises. Auctions are among the first transactions run by e-marketplaces because they are quick and easy to set up and they demonstrate immediate return on investment--achieving better prices and reducing time spent on procurement The fancy word for "purchasing." The procurement department within an organization manages all the major purchases. and liquidation. "Commerce One customers are leveraging the power of auctions to increase revenue and reduce costs," said Liron Petrushka
Petrushka (Russian: Петрушка) is a stock character of Russian folk puppetry (rayok , vice president of Auction Services for Commerce One. "Commerce One is fully focused on helping our customers drive liquidity through e-marketplaces, so we believe that passing $2 billion in online auctions is a tremendous milestone." To date, Commerce One Auction Services has hosted more than 5000 events in more than 100 countries for companies such as Artikos, Endesa ENDESA Empresa Nacional de Electricidad, S.A. (Spanish electric utility) , EventSource.com, GM and SESAMi. Commerce One currently has 22 customers in operation with its Auction Services solution and 20 more in ongoing implementation projects. Some specific results Commerce One customers have reported include the following:
-- Artikos, the joint venture between Commerce One and Banacci,
Mexico's leading financial group, has successfully conducted
multiple auctions ranging from construction projects to Automated
Teller Machines, resulting in an average savings of over 10%.
-- EventSource, the B2B e-commerce network for meeting planning, has
achieved cost savings of over 50% using reverse auctions
-- Endesa, the second largest telco in Spain and one of the worlds 5
largest utilities, has been running about 50 auctions per week and
has generated hundreds of millions of dollars through their
www.opciona.com e-marketplace in Spain and Latin America, with
average cost savings of 16%
-- General Motors has conducted more than 100 auctions and transacted
nearly half a billion dollars in asset recovery and sourcing
through their e-marketplace
About Commerce One Commerce One (Nasdaq:CMRC) is the leader in global e-commerce solutions for business. Through its products, portals, and services, Commerce One creates access to worldwide markets, allowing anyone to buy from anyone, anytime, anywhere. The Commerce One Global Trading Web(TM) is the world's largest business-to-business You can assist by [ editing it] now. trading community. Comprised of many open e-marketplaces, the Global Trading Web provides unprecedented economies of scale for buying organizations, suppliers, and service providers worldwide. Through its "Dream Team" alliance with SAPMarkets, Commerce One enables enterprises and communities of all sizes and industries to efficiently conduct collaborative business on the Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the . Commerce One is located in Pleasanton, Calif., and can be reached by phone at 800/308-3838 or 925/520-6000 or via the Internet at www.commerceone.com. Forward Looking Statements Certain statements made in this press release by Commerce One, including the capabilities of the latest version of Commerce One.net are not historical facts but are "forward looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended a·mend v. a·mend·ed, a·mend·ing, a·mends v.tr. 1. To change for the better; improve: amended the earlier proposal so as to make it more comprehensive. 2. , and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements-may involve risks and uncertainties which could cause actual future results to differ materially and adversely from those anticipated by such statements. Included among the factors that could affect Commerce One's performance and the performance of the latest version of Commerce One.net are: Commerce One.net may not perform with the ease and effectiveness hat is expected, actual efficiencies and economies of scale may not be as pronounced as those anticipated by the parties, launch operational difficulties, interoperability The capability of two or more hardware devices or two or more software routines to work harmoniously together. For example, in an Ethernet network, display adapters, hubs, switches and routers from different vendors must conform to the Ethernet standard and interoperate with each other. difficulties between trading communities, difficulties in adapting to markets of different size, scope and geography; general economic conditions, fluctuations in operating results; its ability to effectively manage future growth, to retain and efficiently integrate its executive management team, and to identify, hire, train and retain, in a highly competitive market, individuals highly skilled in the Internet and its rapidly changing technology and significant revenue concentration in a limited number of clients etc. 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, 1999 and its quarterly report on Form 10-Q Form 10-Q See 10-Q. for the quarter ended June 30, 2000. Note to Editors: Commerce One, Many Markets. One Source. Global Trading Web, BuySite, MarketSite, 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, MarketView, and SupplyOrder are either trademarks or registered trademarks of Commerce One, Inc. Enterprise Buyer and MarketSet are trademarks of Commerce One, Inc and SAPMarkets. All other company, product, and brand names are trademarks of their respective owners. |
|
||||||||||||||||

Printer friendly
Cite/link
Email
Feedback
Reader Opinion