LAS VEGAS, Aug. 22, 2001 (PRIMEZONE) -- PurchasePro (Nasdaq:PPRO) today announced that its commerce network continues to generate significant returns for companies of all sizes. The company said that supplier adoption is key to the success of virtually every e-commerce B2B operation and that its network drives that adoption vigorously.
Chris Benyo, senior vice president of marketing and network services for PurchasePro, attributed the growth in large part to the success of the company's Supplier College, which helps vendors quickly take maximum advantage of the benefits offered throughout its application through a program of specifically tailored education.
"Our leadership position on the supplier side is, in large measure, the result of PurchasePro's Supplier College," Benyo said. "The training is clear, quick and easy to follow, but it is carefully structured to make sure suppliers are online rapidly and able to use all of the capabilities the network offers them."
That kind of close relationship with customers has paid off for Philips Lighting Company, said Vicki Cosci, national account manager. Phillips and its distributor partners now sell to many companies that were inaccessible to the company before it began using the PurchasePro e-commerce application, she reports. "PurchasePro allows us to make connections with companies nationwide, building off the network and business contacts of the system," Ms. Cosci said.
Power Staffing, a Las Vegas-based staffing and services agency, attributes 38 percent of the company's revenues and profits to the PurchasePro commerce network. "We continue to see hard dollars flowing into our business from the PurchasePro commerce network," said Elizabeth Nozero, president of Power Staffing.
Bill Palermo, chief executive officer of HospitalityProducts.com, said, "We've saved millions of dollars in advertising and promotion costs by tapping into the buyers PurchasePro maintains in its commerce network." An e-commerce equipment and supply company located in Irvine, California, HospitalityProducts.com distributes thousands of food service products for the hotel industry, including a full assortment of tabletop items, kitchen supplies, and banquet & catering equipment.
"Suppliers on our network are enjoying important bottom-line benefits and rapid implementation," said Benyo. "The PurchasePro commerce network exposes suppliers to hundreds of thousands of potential new corporate customers. It enables them to merchandise their product line through easily updated online catalogs, and to create globally searchable profiles that showcase their company's capabilities, certifications and qualifications."
Supplier training also makes buyer/supplier collaboration easier increasing the return on investment for both participants and enhancing the long-term value to them of PurchasePro's e-commerce software. PurchasePro's Supplier College teaches suppliers at their pace, enabling them to provide products and services to organizations on the PurchasePro commerce network. PurchasePro's tuition-based services include web-based training, online seminars, in-person training and e-commerce seminars.
PurchasePro recently reported that suppliers received more than 60,000 purchase orders worth approximately $61 million during the second quarter of 2001. Additionally, PurchasePro customers conducted 234 reverse auctions, purchasing approximately $110 million in products and services, from nearly 1,800 suppliers, at a market spread or implied savings of about $30 million since May.
About PurchasePro
PurchasePro(r), www.purchasepro.com, is a business-to-business e-commerce leader with the stated goal of providing software to enable enterprises of all sizes to gain universal access to the world's largest commerce network. The PurchasePro commerce network comprises more than 251,000 businesses and powers hundreds of private-label marketplaces. PurchasePro provides the following business-to-business e-commerce solutions: e-Procurement for corporate procurement; e-Source for strategic sourcing, v-Distributor for online distributors; and e-MarketMaker for Internet market makers.
This news release may include forward-looking statements, which are subject to the ``Safe Harbor'' created by Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. These forward-looking statements involve certain risks and uncertainties that can cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements represent only the views of certain members of management and are based on limited information available to us now, which is subject to change. We have no current plan to update these statements. Actual results may differ substantially from what we say today and no one should assume at a later date that the forward-looking statements provided herein are still valid. They speak only as of today.
For more information about these risks and uncertainties, see the SEC filings of PurchasePro Inc., including the section titled "Factors That May Affect Results" in its 10-K filing for the period ended December 31, 2000, and its 10-Q for the quarter ended March 31, 2001, which are available from the company on request and on the Internet at the SEC's Website, www.sec.gov. Note: PurchasePro is a service mark of PurchasePro.com Inc. All other trademarks or registered trademarks are the property of their respective owners.