22 November 2000 - London - City entrepreneur Bob Morton has made a million pound cash investment in new search and procurement portal engine SearchandMatch launched just 6 weeks ago by SearchandMatch Limited.
Total investment in the project is now £5 million and ensures further development of the portal and the software behind it, already being hailed as a revolution in search & select technology.
Bob Morton said: "The SearchandMatch tool will revolutionise information retrieved on the internet as we know it, being highly flexible and relevant to all market sectors".
The SearchandMatch portal currently allows the instantaneous appraisal and matching of software needs on over 100,000 software application products and from 7,600 suppliers. The database also holds details on over 1,500 different software application areas within the 340 recognised business and industry sectors. Time spent on research and appraisal by users of SearchandMatch can be cut from 3 weeks to 5 minutes! Full searching and cross matching capabilities of any number of criteria is available, together with daily updates and other value added services.
Clients already include Centrica PLC, DHL, the European Patent Office, ICI, Lloyds TSB Development Capital and Unicorn Systems. Strategic ‘data feed’ agreements are in negotiation with a number of leading information technology publishers.
Plans for the portal are to expand the software database over the next 6 months into Europe and the US, holding data on 300,000 products from 45,000 suppliers.
The technology and software will also be applied to other business sectors where web site developers need ‘content rich’ data feeds to enhance their web presence. SearchandMatch also allows ‘intelligent’ web site advertising which can be dynamically targeted, offering new revenue streams for any web site.
Press may try the site at: http://www.searchandmatch.com
Try either: MatrixMatch or QuickSearch to find what you need.
User ID: press Password: pass
Background Research Data
In 1994, the DTI (Department of Trade and Industry) commissioned a report aiming to evaluate what assistance industry needed from the IT sector. The report findings concluded: "It would be of great help to industry if a body could provide information on all applications available in specific market areas. The vast majority of users want independent guidance." A further comment added: "a major impediment for users seemed to be the absence of reliable, unbiased and up-to-date information on which to base their choices."
In April 2000 a report published by CIMA (Chartered Institute of Accountants), entitled ‘Companies wasting money on ill-advised IT projects’, highlights the lack of ability in the SME market, either through constraints on financial and/or human resource to be able to appraise and investigate purchase decisions. This result also concurs with the past 10 CIMA surveys.
Forrester Research's report entitled "Europe: The Sleeping Giant Awakes" shows that annual European on-line trade will reach 1.6 trillion Euros by 2004. Trials have indicated that e-procurement could slash purchasing costs by over 85%! (Source Financial Times).
By 2002, 90% of purchasing professionals will be conducting transactions over the Internet!
Early adopters of Internet procurement automation are realising 300% return on investment in first year of deployment! (Source: Aberdeen Group).
One-fourth of all US business-to-business purchasing will be done online by the year 2003, according to a study by The Boston Consulting Group (BCG). The research estimates that between 1998 and 2003, US business-to-business e-commerce will grow by 33 percent each year and reach $2.8 trillion in transaction value.
Bob Morton FCA
Serial entrepreneur Bob Morton (58) is chairman of Harrier Group plc, Baron Corporation PLC, Vislink plc, Incepta Group Plc, Planit Holdings Plc, Systems Union Group plc, Clarity Group plc, BsoftB plc and InterClubNet plc.
John Knowles - Chairman
John has been chairman and managing director of a number of companies. He has experience of the high technology sector and of venture capital and completed his first MBI/MBO in 1990. John is currently a director and shareholder in a number of other high technology companies and has specialised in helping companies to achieve funding.
Nicola Jeffery-Sykes - Managing Director
Nicola has a 20 year background in IT company business management, sales and marketing. She has extensive experience in e-business and business development having compiled revenue generation models for First-e.com, NHS direct.org, abcaz.com, egg.com, and virtualvillage.com amongst others. Nicola has successfully run a direct sales and marketing company for the IT sector , bought 2 years ago by Duns Marketing, a subsidiary of Dun and Bradstreet. She went on to run the sales & marketing operations for healthcare web company Medidesk PLC. Nicola is a main board director of the Princes Trust and on the executive committee of several computer associations, including CSSA & FEI.
Philip Hamlin - Strategic Director
Philip conceived the vision of launching the System Search IT Information tool in 1998 whilst a Director of computer consultancy and DTI partner (for the Open System Information Service), MHA. The concept was to use the MHA database as the kernel of an internet based global IS/IT information and procurement portal. Philip has an in-depth knowledge of the marketing methods required to identify the most productive client companies. Philip has gained broad market experience within IT consulting and marketing with various organisations including Reuters.
More comments, interviews and information available from:
Nicola Jeffery-Sykes, Managing Director at SearchandMatch:
T: 01257 262776
M: 07973 829693
Jane Harrad-Roberts, Marketing Projects
T: 01244 330000
M: 07785 395705
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