Press Releases

OpsXchange Announces OpsCommerce Platform

New real estate procurement technology uniquely supports fragmented industry

San Francisco - Nov. 15, 2000 - OpsXchange, the e-procurement enabler for real estate operators and their suppliers, announced today the OpsCommerce Platform, its hosted technology developed specifically to support the management and operation of real estate. The OpsCommerce Platform enables e-marketplaces along the real estate operations supply chain, allowing users to request, order, purchase, trade, auction or otherwise transact on products and services.

The business processes and management structures in real estate operations can vary significantly from company to company. Rajiv Naidu, founder, chairman and CEO of OpsXchange, believes this level of inconsistency combined with market fragmentation makes it difficult for products offered by general procurement technology providers to be useful upon purchase-most require considerable modifications to support the wide-ranging demands of real estate management.

The OpsCommerce Platform has been uniquely designed and built to readily support real estate-specific procurement activity. Information critical to property management, including detailed asset data and descriptions, can be entered into standard fields and captured by the system. Workflow and pricing structures can be easily customized online to maintain existing offline purchase and reporting processes.

"Our executive team is comprised of experienced real estate professionals who provided the knowledge base necessary to incorporate real estate business processes into the technology," said Naidu..

REITs, REOCs, property management companies, industry consortiums and corporations can license the OpsCommerce Platform to establish private e-marketplaces. In addition, the system can enable public marketplaces operated by GPOs, net market makers, management software companies, and other industry participants.

"We are an e-procurement technology company different from most because we have chosen to create a product specifically to facilitate the management and operation of real estate," said Lawrence Wong, vice president of technology at OpsXchange. "Whether you are an individual organization or an existing public marketplace in this industry, our technology is best suited to serve you."

At the core of the OpsCommerce Platform is realXML, an XML standard designed by OpsXchange to capture real estate-specific data. This standard enables automatic routing and translation of transactions between any buying organization and its suppliers. In addition, the platform is capable of integrating with more than 40 existing buyer and supplier ERP, order management, and fulfillment systems, including those produced by JD Edwards and PeopleSoft that are widely used in real estate.

The OpsCommerce Platform has three distinct components: the buyer interface, the trading hub, and the supplier integration technologies. This suite of products makes OpsXchange one of few technology providers capable of supporting completely online transactions, from purchase orders and order confirmation, to invoice coding and payment. OpsXchange can host the OpsCommerce Platform as an ASP to provide state-of-the-art e-procurement technology for customers who desire ready-to-use technology. This allows customers to benefit from the inherent efficiencies of e-procurement without incurring the cost of building and maintaining a proprietary system.

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.