Press Releases

Property Management Professionals Gain Access to Suppliers, Improve Efficiency with OpsBuyer

OpsXchange buyer interface helps companies reduce costs through e-procurement

San Francisco, CA - November 30, 2000 - OpsXchange, the e-procurement enabler for real estate operations, announced today the release of OpsBuyer, the buyer interface component of its online procurement software, the OpsCommerce Platform. OpsBuyer provides users, such as property owners, with access to an online trading hub that links them to the suppliers of goods and services necessary to manage, maintain and operate real estate.

OpsBuyer provides customers of OpsXchange technology with a marketplace interface through which buyers can efficiently find products, services and related information from a comprehensive master catalog for placing orders across an integrated network of suppliers. The software also allows customers to create and submit bids for contractor services. OpsBuyer can be integrated with existing software and customized to match the business rules and practices of a particular organization to facilitate purchasing without forcing customers to abandon their company's best practices.

"Two crucial customer requirements that we've addressed in our software solution are to maintain existing buyer-supplier relationships and to accommodate the assortment of workflow processes and reporting structures that are currently used," said Rajiv Naidu, founder, chairman and CEO of OpsXchange. "OpsBuyer has been designed to support any buyer's current offline processes and preserve existing business relationships, such as contract pricing.

" A simple online registration procedure allows a buyer to set up a user account and profile. Managers and account administrators can set spending limits and select preferred suppliers for particular goods and services. When a buyer logs on to their secure account, the system recognizes the user and automatically sets the system to match their previously specified requirements, including pre-negotiated pricing.

A buyer can use one of seven different methods to find and select specific products or services, and multiple products may be ordered from multiple suppliers through a single purchase session. When a user checks out, the system automatically generates electronic purchase orders, requests for manger approval, and vendor confirmations. This procedure streamlines the invoice and payment process, resulting in significant savings for both buyers and suppliers. About OpsXchange OpsXchange is the only e-procurement enabler built for real estate operators and suppliers. The company licenses its proprietary 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.

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.