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PureEcommerce Markets Platform Manages Orders for Business-to-Business Commerce throughout the Transaction Lifecycle Berkeley, Calif., November 15, 1999 -Yantra Corporation announced today a new product, the "PureEcommerce Markets Platform," for companies looking to leverage the power of the Internet to conduct and manage complete business-to-business transactions. Customers for the PureEcommerce Markets Platform will include vertical catalog companies, online auctions, and exchanges that seek to become market makers in their industries, bringing together buyers and sellers and orchestrating complex transactions over the Web. Yantra's new PureEcommerce technology provides comprehensive, real-time order management throughout the transaction lifecycle of the order. Yantra Corporation has already signed up ChemPoint.com and SciQuest.com as customers for Yantra's PureEcommerce Markets Platform. The new product debuted today at the Net Market Maker's Ground Zero2 conference being held in Berkeley, California, November 14-17. (For more information, see www.netmarketmakers.com.) Yantra's new PureEcommerce technology works with partners' solutions to provide comprehensive real-time order management throughout the transaction lifecycle, from order creation, through credit approvals and freight shipping, to product delivery, and even facilitating returns. In a related announcement today, Yantra is partnering with eCredit.com, Moai, and Intelligent/Digital to simplify business-to-business e-commerce. PureEcommerce Markets Platform is a scalable commerce platform that helps companies master the biggest challenge in the $1.7 trillion market for business-to-business electronic commerce, that of order management. When buyers and sellers come together in a net market, Yantra's PureEcommerce Markets Platform can take all the information concerning the transaction and fulfillment of the order and maintain central information on the order in one place. As terms are negotiated between buyer and seller -- such as credit terms, shipping rate, and delivery methods -- and business processes proceed to take place -- Yantra maintains real-time information on the order. PureEcommerce Markets Platform is available for immediate delivery. High profile net markets such as SciQuest.com and ChemPoint.com are already using or evaluating PureEcommerce as the platform for managing orders throughout the transaction lifecycle. "ChemPoint.com is rapidly expanding our supplier and logistics partner networks," said Chad Steigers, Managing Director for ChemPoint.com. "We needed to have complete order visibility throughout the virtual global supply chain -- vital to us because of the diversity of our partner base. We chose the PureEcommerce Markets Platform architecture because it allows us to deploy quickly with our suppliers, regardless of their current IT capability. The whole system is XML-based, and suppliers can begin transacting with only a PC with standard browser. The PureEcommerce Extensibility Workbench allows us to customize the system to our own business rules." ChemPoint.com is a subsidiary of Pakhoed Distribution Corporation and a sister company to Van Waters and Rogers, which is North America's leading chemical distributor. ChemPoint.com is an Internet-enabled, e-distributor of specialty and fine chemical products with a scheduled launch date in spring of 2000. SciQuest.com is a vertical industry market for laboratory products used in the pharmaceutical, biotechnology, university, clinical and industrial markets. According to information from the Laboratory Products Association and Strategic Directions International (SDI), the laboratory products industry is an estimated $11.8 billion market in North America, with more than 8,000 suppliers. Antony Francis, Vice President of Operations for SciQuest.com, commented, "Our challenge was, how do we manage and take in a high volume of orders from many customers for hundreds of suppliers and in a variety of sources -- in whatever form the order is received, via the Internet, phone, fax, or e-mail. Our suppliers' order fulfillment systems vary widely in level of sophistication. By using the Internet-based PureEcommerce platform, information is visibly communicated in real time throughout the virtual supply chain to integrate e-businesses, suppliers, and customers. And in the process, we believe we can reduce order processing and shipping costs to a fraction of what the costs are today." About Yantra  |
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