FreeMarkets(R) Desktop for Professional Buyers and Suppliers Enables
Web-Based Collaboration in the FreeMarkets B2B eMarketplace
PITTSBURGH, May 22 /PRNewswire/ -- FreeMarkets, Inc. (Nasdaq: FMKT),
the original and world's leading B2B eMarketplace, today announced the
availability of FreeMarkets Desktop for Professional Buyers and FreeMarkets
Desktop for Suppliers. The web-based FreeMarkets Desktop integrates and
automates the activities and data necessary for buyers to conduct strategic
purchasing and suppliers to bid on business opportunities in the
FreeMarkets B2B eMarketplace.
FreeMarkets Desktop enables buyers and suppliers to work in a secure
environment and complete critical tasks over the web such as publishing
online RFQs (request for quotations), matching bidding opportunities to
supplier profiles and managing multiple projects, among other things.
Previewed at the FreeMarkets North American Customer Conference in March,
FreeMarkets Desktop (formerly named FreeMarketPlace) is currently being
used by Global 1000 purchasing professionals and suppliers in the
FreeMarkets B2B eMarketplace.
"As an ever-growing number of customers and suppliers participate in
the FreeMarkets B2B eMarketplace, we are continuing to deliver solutions
that meet their needs by automating the intellectual capital we've gained
over the past five years," said Jane Kirkland, vice president and chief
information officer for FreeMarkets. "FreeMarkets Desktop is based on the
considerable knowledge we've developed conducting over $5 billion in online
auctions, and gives buyers and suppliers in our B2B eMarketplace web-based
access to the information required to conduct strategic purchasing."
FreeMarkets Desktop for Professional Buyers
With FreeMarkets Desktop for Professional Buyers, purchasing
professionals can publish RFQs online, review supplier profiles,
automatically match suppliers' capabilities to RFQ requirements, invite
qualified suppliers to participate in FreeMarkets' Competitive Bidding
Events, and view real-time online bidding.
FreeMarkets Desktop for Suppliers
FreeMarkets Desktop for Suppliers provides free, web-based access to
new business opportunities in the FreeMarkets B2B eMarketplace. Through
FreeMarkets Desktop, suppliers can submit detailed business and capability
profiles, post product and service information and compete for business in
auctions conducted through the FreeMarkets B2B eMarketplace.
Pricing and Availability
FreeMarkets Desktop is available now and in use by buyers and
suppliers. At a base level, the cost of using FreeMarkets Desktop is
included in the fees buyers pay to access the FreeMarkets B2B eMarketplace.
Premium level services will be available for additional fees. FreeMarkets
Desktop is available via the web at no cost to suppliers registered in the
FreeMarkets B2B eMarketplace.
About FreeMarkets
FreeMarkets is the original and world's leading B2B eMarketplace, with
online markets for industrial parts, raw materials, commodities and
services. The Company has executed online auctions for over $5.4 billion
of purchase orders to date, and created potential estimated savings of more
than $1 billion for its customers. Since 1995, FreeMarkets has created
online auctions for products in more than 100 supply verticals, including
injection molded plastic parts, commercial machinings, metal fabrications,
chemicals, printed circuit boards, corrugated packaging and coal. More
than 4,000 suppliers from over 50 countries have participated in the
FreeMarkets B2B eMarketplace. FreeMarkets is the only B2B eMarketplace
that includes industry-leading online auction technology, technical
operations, industrial market making services, access to a global database
of suppliers and supplier research, call center support to buyers and
suppliers in over 30 languages, and marketplace rules. The Company's
current customers include Visteon Corporation, United Technologies
Corporation, The Quaker Oats Company, Owens Corning, Eaton Corporation,
Emerson Electric Company, FirstEnergy Corp., SmithKline Beecham plc,
Navistar International and Delphi Automotive Systems Corporation.
FreeMarkets can be found on the Web at http://www.freemarkets.com. FreeMarkets is
a registered trademark of FreeMarkets, Inc.
Forward-looking statements
Statements in this press release that are not historical facts,
including those statements that refer to FreeMarkets' plans, prospects,
expectations, strategies, intentions, hopes and beliefs, are
forward-looking statements. These forward-looking statements are based on
information available to FreeMarkets today, and FreeMarkets assumes no
obligation to update these statements as circumstances change. There are
risks and uncertainties that could cause actual results to differ
materially from the forward-looking statements, including, without
limitation, market acceptance of FreeMarkets' B2B eMarketplace, the
competitive nature of the market for business-to-business online auction
services, FreeMarkets' ability to retain and increase revenue from existing
customers and to attract new customers, FreeMarkets' ability to attract and
retain qualified personnel, the size of the market for used equipment and
surplus inventory, the demand for online auction and other asset recovery
services by buyers and suppliers, and FreeMarkets' ability to integrate
acquisitions. Risk factors are described in more detail in FreeMarkets'
filings with the Securities and Exchange Commission.
SOURCE FreeMarkets, Inc.
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Related links:
http://www.freemarkets.com
CONTACT:
Karen Kovatch of FreeMarkets, 412-297-8767,
or kkovatch@freemarkets.com
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