Trade Extensions is predicting a year of growth as businesses see on-line procurement and optimisation as tangible steps they can take to cut costs and beat the recession.
The announcement is prompted by the news that Trade Extensions’ revenue grew by 50% during the last 12 months with one third of the growth coming from new customers. The success in 2008 is in line with recent performance and means revenue has increased by 150% since 2006.
On-line procurement makes collecting precise information from a large group of suppliers easy but where technology can provide significant benefit is helping buyers make sense of these offers. A typical procurement project could involve hundreds of suppliers; thousands of individual items and millions of possible combinations of results. This volume of data is impossible to analyse manually but Trade Extensions software can find solutions in seconds.
Analysing procurement data in this way can have a dramatic impact of a company’s bottom line by identifying savings that can be achieved without compromising quality. For example, during 2008 Trade Extensions ran transport tenders worth €1billion and was able identify potential savings for its customers of between 8-15% - savings that often ran into millions of euros.
Trade Extensions President Garry Mansell said, “Effective procurement and rational decision making are things that remain within businesses’ control and mean they can seize the opportunities that exist even in the current economic climate.”
Alongside its work in the transport sector where it has historically been strong, Trade Extensions has worked in procurement projects covering industries as diverse as telecoms, road construction; print services and office maintenance. The flexibility of its software also means it can be implemented very quickly without expensive and time consuming software programming.
Garry Mansell said, “Trade Extensions allows businesses to justify every penny and euro they spend and we give them the confidence that the suppliers and solution they choose is the best available.”
About Trade Extensions
Trade Extensions www.tradeextensions.com sets new standards for on-line procurement and optimisation. Its unique procurement software helps organisations specify tenders, collect offers and, most significantly, optimise the results.
On-line procurement projects generate millions of variables and it is the algorithm design that underpins the success of Trade Extensions’ software and means solutions can be identified in seconds.
Pettifor & Pettifor
020 7936 9269
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