TradePower, a B2B marketplace and supply chain solution for the construction industry, announced that it has partnered with InfoSource Corporation of Central Ohio, a provider of construction software to some of America's largest contractors. Under the agreement, TradePower will provide InfoSource with access to more than 6,000 contractor customers and will facilitate relationships with the major mechanical and electrical distributors. InfoSource will provide TradePower with access to key clients located throughout North America.
TradePower provides desktop and Web-based e-commerce products and services to InfoSource and TradePower's mutual customer base. TradePower will integrate with InfoSource's Purchasing Control System, allowing InfoSource clients to benefit from the Web-based procurement service. TradePower will also have access to additional contractors who account for more than $800 million in construction purchasing annually.
As a leader in the construction industry, InfoSource understands that contractors are looking for ways to streamline business processes without making major changes in their current ordering and purchasing behaviors, said Mike Ramirez, of InfoSource. We chose to partner with TradePower because its solution integrates seamlessly with our Purchasing Control System and our Service Tracking System, allowing contractors to realize the benefits of e-commerce without changing their business processes. By combining the power of TradePower's digital marketplace with our construction management software products, contractors will be able to spend less time in the office and more time on their job sites.
The TradePower digital marketplace enables real-time transactions between suppliers and contractors, empowering users to research, request and purchase construction materials through their medium of choice the desktop or the Web. Unlike existing construction industry exchanges that target owners, architects and general contractors, TradePower is focused on the supplier and contractor relationship, where the majority of construction industry transactions occur.
TradePower's marketplace connects contractors and suppliers through a neutral, centralized and integrated environment that enhances information exchange and simplifies the purchase and sale of construction supplies. The exchange gives contractors the ability to improve business operations by reducing overhead costs and minimizing fulfillment errors. Suppliers benefit from the TradePower digital marketplace by expanding their sales channels and improving the efficiencies of their supply chains.