BayanTrade.com, the 1 billion-peso ($22 million) e-procurement consortium put up by six of the country's largest conglomerates, will join the world's largest community of similar electronic marketplaces, instantly linking up local companies to foreign buyers and sellers.
The link-up will be made possible by CommerceOne Inc., a global leader in business-to-business (B2B) solutions and chosen by BayanTrade.com as its technology solutions partner.
CommerceOne will provide the engines that will power the e-procurement browsers, workflow management, catalogs, auctions, and content management of the BayanTrade.com community of buyers and suppliers.
BayanTrade.com will be the newest member of the largest global community of interoperable marketplaces, called the CommerceOne Global Trading Web.
By selecting CommerceOne, BayanTrade.com will be able to link up with global trading partners including Bell South in the U.S., British Telecommunications in the U.K., Cable and Wireless Optus in Australia, Citigroup, Banacci in Latin America, Com2B in Taiwan, AsiaB2B.com in Hong Kong, Deutsche Telekom in Germany, Endesa in Spain, NTT Communications in Japan, Portugal Telecom in Portugal, SESAMi.com in Singapore, Trade Alliance of Singapore, Swisscom in Switzerland and Toronto Dominion Bank in Canada. In addition, General Motors Corp. and the Royal Dutch Shell group operate global trading portals for the automotive and energy industries, respectively.
The six founding partners of BayanTrade that signed a memorandum of agreement (MOA) last June 19 are Aboitiz Equity Ventures, Ayala Corp., Benpres Holdings Corp., JG Summit Holdings, Philippine Long Distance Corp. and United Laboratories.
"After an extensive due diligence and selection process, the consortium has zeroed in on CommerceOne to be the technology platform partner," said Christopher Po, who represents JG Summit Holdings in the interim management team of BayanTrade.com. He added that CommerceOne was selected because it offers the best of breed functionality in e-marketplace and content management solutions. "In addition, CommerceOne technology allows us to rapidly set up industry-specific, vertical e-marketplaces leveraging off the initial infrastructure investment."
BayanTrade.com will provide businesses with real-time buying and selling capabilities for product categories including office supplies, office furniture, IT equipment, and other value-adding products and services. Buyers gain access to an unprecedented number of suppliers and capitalize on price discovery, while sellers maximize returns by extending their marketing reach to a larger community.
"BayanTrade.com will be a welcome addition to the Global Trading Web," said Mark Biestman, senior vice president for worldwide sales of CommerceOnce. "The ability for Filipino suppliers to be part of a truly global distribution channel and offer their goods and services worldwide is an exciting proposition." He added, "Our open architecture and integration capabilities allows participants to join the exchange quickly and benefit from a common way of BayanTrade.com to help the small and medium enterprises get online and have an e-commerce strategy. We have made certain that all services are provided with secure and fully protective protocols and safeguards for sensitive information. Thus, BayanTrade.com's participants are assured that they are using the best and user-friendly technology currently available."
BayanTrade.com will sign a definitive agreement with CommerceOne by end of this month and is planning to launch BayanTrade.com by the end of the year.