San Francisco May 22, 2001 ChemConnect Inc., operator of the World Chemical Exchange, today released new data that members experienced an average of more than 1,000 percent return on investment (ROI) when procuring through ChemConnect's Corporate Trading Rooms, private online auctions, for short- and long-term contract negotiations.
Companies realized an average of more than 1,000 percent return on the initial investment made to host Corporate Trading Rooms in Q4 2000 and Q1 2001. In addition, companies reduced negotiation time by an estimated 50 percent with buyers' average savings of 5 to 25 percent over market prices and previous contract prices. Both buyers and sellers from multiple industries such as chemicals, household products, coatings and pulp and paper use Corporate Trading Rooms for the sales and procurement of direct raw materials.
We're experiencing increased demand for our Corporate Trading Room online auctions as more companies realize they can streamline processes, optimize product costs and come to agreement faster & with both new and long-term partners, said John Robinson, ChemConnect CEO.