Business Booms for e-Marketplace Quadrem

Minerals and mining industry portal sees Q1 transaction volume up 84 percent to $1.5 billion, driving second consecutive cash flow positive quarter

Minerals and mining industry portal sees Q1 transaction volume up 84 percent to $1.5 billion, driving second consecutive cash flow positive quarter

Dallas  May 2, 2005  Minerals and mining industry e-marketplace Quadrem achieved its second consecutive cash flow positive quarter in the first quarter of 2005, increasing revenues 72 percent compared to 2004 data, according to a company announcement.

Additionally, Quadrem said it achieved record transaction throughput as purchasing organizations sent 345,000 purchase orders worth $1.5 billion via Quadrem's transaction platform, an 84 percent increase over the first quarter of 2004.

"We're seeing continuing strong momentum across the board," said Charlie Jackson, Quadrem's acting CEO and COO. "Our customers are increasing the amount of spend they're processing electronically, and we're also adding new buyer customers that are attracted to our global capabilities."

Quadrem's network has grown 136 percent, to 436 purchasing locations and more than 14,000 suppliers, representing over 30,000 users. Buyer customers are exceeding their account plan commitments by 18 percent, the e-marketplace said.

The company's 2005 results build on a trend of growth, according to Quadrem. Last year the company tripled community membership and processed 1.2 million electronic purchase orders worth more than $4 Billion. During 2003 Quadrem said it experienced a 400 percent increase in transaction volume, revenue gains of approximately 100 percent and an increase in new supplier customers of 150 percent.

"We're very pleased with our financial performance which continues to be strong and evenly distributed among our global regions," said Gary Ito, chief financial officer for Quadrem. "As we move from start-up to a global emerging growth company, we are off to an excellent start to deliver a strong 2005."

For a look at how Newmont Mining is connecting to its supply base through e-marketplace Quadrem to form a global supply network, see the article "Making Global Supply Chains Work" in the August/September 2004 issue of Supply & Demand Chain Executive.