BOSTON, Mass. and MURRAY HILL, N.J.-December 4, 2000- According to a recent report (and apparently to several exchanges that are closing their doors) buyers lack confidence in e-marketplaces. Two companies have teamed up to offer a service that may just solve part of that puzzle. Open Ratings and Dun & Bradstreet launched Buyer Insight earlier this week. The service is intended to boost buyer and supplier confidence in B2B e-markets by offering purchasing professionals supplier performance ratings at a single point in real time and across many e-marketplaces.
Open Ratings' partner, Newmediary, Inc., builds and manages online directories for content and community sites, supplying its partners' end users with a more efficient way to identify, evaluate and select the right e-business service provider. Scott Cohen, chairman and founder of Newmediary, commented, "Our partnership with Open Ratings enables us to offer our partners a powerful ratings tool that complements their own trusted content and empowers their end users to make better business decisions."
"Buyers need confidence in their new business partners. A service like Buyer Insight, appropriately sensitive to buyers' needs for ease of use and depth of information, can help them gain that confidence," said report from the Patricia Seybold Group. By offering the service, e-marketplaces can give buyers a trusted measurement standard in business performance to select, qualify and monitor suppliers. In addition, e-marketplaces can collect performance data to monitor the quality of their participating trading partners, ensuring buyer/supplier confidence and contributing to more transactions and e-marketplace liquidity.
Some key features of Buyer Insight are:
Open Ratings' supplier performance ratings combined with business information from the Dun & Bradstreet global database of more than 60 million businesses.
D&B data -the supplier profile from D&B includes business listing and critical financial performance information about suppliers
Manipulation controls - eliminates known methods of defrauding existing ratings services
Scalable and portable - designed for high transaction volume and is capable of delivering supplier performance information in real time across many e-marketplaces
Monitoring - allows buyers to monitor changes in supplier performance