The Bidvest Group's B2B (business-to-business) company, mymarket.com, has grown steadily since its launch in July 2001.
mymarket.com now has a total of 637 suppliers, 31 buying organisations and a total of 2913 buyers and sellers transacting daily on its e-marketplace. including users from the countrywide Fedics Foodservice Group and The Netcare Group.
mymarket.com, part of The Bidvest Group Limited, a holding company invested in the cyclical services - support services sector, with 750 companies group-wide, uses Commerce One's solutions to power its electronic marketplace and to automate the entire source-to-pay process for its customers.
From The Bidvest Group itself, FedEx, Rennies Travel Branches, Seating, Safcor, Bid Corporate Services, Chipkins Catering Supplies, Safcon and BMA (Bluff Mechanical Appliance) are now trading daily with their suppliers. In the United Kingdom, mymarket.com UK (3663 First for Foodservice) went live in May last year and is trading with Burger King and Bowne Leisure.
mymarket.com was developed to meet the unique requirements of South African businesses. It provides a series of modules which ensure that the exact needs of individual trading partners are met. These modules comprise standard, tried and tested technologies used by many of the world's largest corporations, combined with locally customised and developed solutions. mymarket.com constantly upgrades and develops these modules to meet the changing needs of its customers and prospective customers.
Services presently offered by mymarket.com to its trading partners include:
For the Supplier trading partner:
Catalogue Publisher - a fully secure web-based service set up for each individual supplier that allows them to create and manage their own electronic product catalogue. Supply Order - is an online service provided to suppliers to receive orders from online buyers. Integrated Supplier - a fully integrated service which electronically updates the supplier's existing accounting system reducing the need to recapture sales orders.
For the Buyer trading partner:
Buyer Accelerator - this allows the procurement manager to centrally manage all supplier negotiations.
Procure - allows the buyer to fully manage and control the entire internal procurement function Inventory Manager - is a fully integrated management tool offering the company the ability to maintain internal stockroom(s).
Integrated Accounting - allows the complete integration of the accounts payable, cash book and general ledger and e-procurement modules.
PO Gateway - The Gateway allows for mass PO (Purchase Order) upload and delivery to supplier systems via mymarket.com. The PO can be tracked and electronically filed, increasing efficiencies.
Reporting - Every aspect of the procurement cycle is available on existing or custom-designed reports.
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