Singapore October 26, 2001 Commerce One Inc., an e-marketplace company, has announced that BayanTrade, the Philippines' first B2B e-marketplace with more than 190 trading partners, is using Commerce One's Global Trading Web for cost savings, streamlined procurement processes and access to more trading opportunities in the Philippines and other countries.
BayanTrade has already completed more than 200 auctions for trading partners, the total value of which exceeds U.S. $52 million, and they have processed more than 10,000 purchase orders. The e-marketplace has cut transaction-processing costs from an average of U.S. $5 to $17 per purchase order to under U.S. $3, based on an internal study by JG Summit, one of the founding members of the e-marketplace. In addition to direct cost savings, the e-marketplace has helped participants cut order-processing time from 18 days to just 48 hours.
Additionally, BayanTrade estimates that suppliers are saving between 10 and 68 percent on the cost of goods sold through the auctions, while buyers have saved as much as 50 percent on the procurement of goods and services through the e-marketplace.
"Working closely with Commerce One has enabled BayanTrade to place the Philippines at the forefront of B2B e-commerce adoption," said Carol Carreon, CEO, BayanTrade. "Companies are joining our e-marketplace for the simple reason that it delivers real and immediate business benefits. With Commerce One providing the robust and flexible foundation for e-commerce, we have been able to deliver significant process improvement and cost savings by automating trading processes to both suppliers and buyers alike."
Founded by six of the largest conglomerates in Philippines, BayanTrade expects to have up to 500 trading partners participating by year-end. As the key solutions' provider for the consortium, BayanTrade is leveraging Commerce One solutions to streamline trading relationships in the Philippines.
"BayanTrade is delivering tangible business benefits and sophisticated services and solutions to their trading partners," said, Neil Hudspith, senior vice president and general manager, Commerce One, Asia Pacific. "BayanTrade demonstrates the kind of real-world value e-marketplaces can deliver across a region by enabling seamless, global e-commerce."
BayanTrade is expanding and customizing its capabilities to support key industries including construction, electronics and semiconductor manufacturing, utilities, retail and consumer packaged goods, manufacturing and government. The consortium is also developing strategic partnerships for e-payment and e-logistics to roll out new services for their marketplace participants. Through Banyan Trade's use of the Commerce One Business Web Services Framework it facilitates interoperability among the partners and can enable greater collaboration between all service providers and participants.
"BayanTrade member companies account for more than 20 percent of the purchasing strength in the Philippines, enabling a formidable marketplace that can compete on a global scale. As we ramp up we will continue to work with Commerce One to become the premiere electronic trading gateway for the South Asia region," Carreon continued.