|
CocoCommerce Partners with eSpotMarket to provide Transaction Management and Settlement Solution
Payments, finance, warranty, insurance, inspection are part of services offered
PITTSBURGH (July 12, 2001) - eSpotMarket, a provider of sell and buy side e-procurement applications for mid-sized businesses and government agencies, today announced it has signed a strategic alliance agreement with CocoCommerce Inc. to provide an integrated transaction management and settlement solution for its customer base.
>eSpotMarket will use CocoCommerce's COCOXT™, a software suite that will enable purchase-through-settlement transaction management to achieve end-to-end transaction fulfillment for eSpotMarket users. It electronically coordinates and tracks the flow of a transaction from order origination to what is typically a complex financial settlement process on a single platform.
In addition to its own site, eSpotMarket's public exchange is available across more than 200 marketplaces, including AOL/Netscape's Netbusiness, Gateway and others through a partnership with PurchasePro.
"eSpotMarket customers will have the ability to instantly create a credit account, and conduct online transactions the way they've been accustomed to offline," said Scott Philp, Vice President of Business Development. "Until now that's been an almost unheard of proposition, but it's something our customers put near the top of their list."
COCOXT™ consists of technology that integrates transaction service providers (finance, warranty, insurance, shipping, inspection, escrow, multiple payment options, and more) onto a common value added platform where they can view, bid then service pending transactions from procurement through settlement.
''The partnership with e-SpotMarket will allow us to integrate its e-procurement workflow solution and our value added platform," said Ariu Levi, CEO, CocoCommerce. "It creates a comprehensive set of solutions that will enable us to jointly pursue enterprise opportunities in the banking, hospitality, medical, MRO, and other industries with a truly cost effective online end to end solution for buyers and sellers."
About eSpotMarket
eSpotMarket provides e-procurement applications for mid-sized businesses and government agencies. The company produces two primary products: a web-based procurement application for buyers, and custom private marketplaces for sellers. Both applications pool into the eSpotMarket syndication network of 250 sites, which provides massive buying and selling leverage for eSpotMarket customers. eSpotMarket's exchange features real-time, dynamic pricing via a web-based browser. The company has been enabling trades since January 2, 2000.
About CocoCommerce
CocoCommerce powered by COCOXT™ is a modular single source infrastructure technology platform that brings the best of breed value added services to e-marketplaces and corporate procurement sites. CocoCommerce makes it possible for buyers and suppliers at these sites to manage their online transactions seamlessly, end-to-end, from order entry to fulfillment and settlement. The modular single source technology platform can include; finance, warranty, insurance, shipping, inspection, escrow, trade finance, tax software, multiple payment options, transaction tracking, transaction advising and more
###
|
