Press Releases

New Procurement Technology Built for Real Estate Industry

OpsXchange technology enables industry purchasing on the Internet

San Francisco, Calif. - Oct. 4, 2000 - OpsXchange, the e-procurement enabler for the real estate industry, announced today the availability of the OpsXchange e-procurement platform, the company's hosted technology offering. The e-procurement platform will simplify the purchasing of goods and services along the real estate operations supply chain. Property management companies, net market makers, suppliers, service providers and other industry participants can license the platform to establish their own e-marketplaces.

"The real estate industry is highly fragmented and diverse, with numerous property types and suppliers each having distinct operational requirements unique to this industry," said Rajiv Naidu, founder, chairman and CEO of OpsXchange. "With our e-procurement solution, users have the ability to establish their own e-marketplaces through technology designed to meet their specific needs, and maximize efficiency through customized e-procurement processes."

The OpsXchange e-procurement platform is proprietary and comprehensive technology that connects buyers and suppliers online via digital pipelines to enable real-time transactions. The platform supports the full range of transaction processes-from direct catalog orders to RFPs-for both goods and services while maintaining existing industry relationships, such as contract pricing. In addition, the platform offers plug and play capabilities with existing buyer and supplier ERP, order management, and fulfillment systems.

"Our e-procurement platform is designed to be an open, fully-scalable and extensible system that can meet the needs of any organization, no matter how large it is or what information system is in use," said Lawrence Wong, Vice President of Technology at OpsXchange. "Furthermore, because we host the solution as an ASP, we are able to provide state-of-the-art e-procurement technology and the associated time and cost efficiencies without users having to incur the significant costs of building and maintaining a proprietary system."

There are three distinct components to the e-procurement platform?the buyer interface, the trading hub, and the supplier integration technologies. The OpsXchange buyer interface is a customizable, Web-based package that provides customers access to the OpsXchange trading hub, the core application through which buyers and suppliers interact. This trading hub enables customers to request, order or otherwise transact and settle on any product or service offered by suppliers integrated with the hub. The supplier integration technologies are used to integrate trading partners of all sizes, providing full processing capability regardless of their technology infrastructure.

About OpsXchange
OpsXchange is the only e-procurement enabler built for real estate operators and suppliers. The company licenses its proprietary hosted technology to simplify the procurement of goods and services along the supply chain for real estate management, maintenance and operations.

Founded in 1999 and based in San Francisco, OpsXchange is a privately held, venture-backed company whose investors include SAP Ventures, Cohen & Steers Capital Management, and Vortex Partners. For more information, visit www.opsxchange.com.