By Phil Boeyen, ShareChat Business News Editor
Wednesday 5th July 2000
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A group of 14 companies has announced plans to form a multi-industry e-marketplace for business to business (B2B) transactions.
The companies expect more than A$8 billion to flow through the marketplace for indirect goods and services over the next two years. Current annual spending on indirect goods and services in Australia is over A$300 billion a year.
Going by the name of corProcure, the founding companies of the e-marketplace list like a who's who of Aussie business including AMP, ANZ, Coca-Cola Amatil, Goodman Fielder, Qantas and Telstra.
Development costs will be shared among the companies and the system will offer it all - from lawyers to loo paper.
The companies say suppliers will benefit by gaining access to a much larger customer base which should reduce administration and customer acquisition costs. It should also get rid of plenty of plenty of paperwork
Buyers on the other hand will be able to use simplified ordering processes and benefit from improved order accuracy.
The internet partners are not disclosing how much money they expect to save by having such a system online, but say is offers a chance for all those who get involved to be more competitive.
Transactions are expected to begin by September this year.
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