GAITHERSBURG, Md.--(BUSINESS WIRE)--Feb. 19, 2002--
GXS-hosted Supply Chain Services Enable Companies to Reduce Costs and Improve Bottom-line Performance While Focusing On Their Core Business
GE Global eXchange Services (NYSE:GE), a leader in business-to-business Internet commerce, today announced that it is offering a new suite of B2B electronic commerce services designed to automate the supply chain "source-to-pay" process. GE Global eXchange Services (GXS) will host and operate the new services, which are designed to help companies lower procurement costs, compress procurement cycle times, and lower working capital requirements.
The Source-to-Pay Services suite provides trading communities with supply chain efficiency applications - accessible over the Internet - that facilitate the following interactions between buyers and suppliers:
-- Supplier Selection - a buyer posting and suppliers responding to Requests for Quotations (RFQs); or, a buyer auctioning its demand for certain goods and services to pre-approved suppliers during a time-defined online bidding session -- Buyer Requirements - a buyer publishing its demand requirements - by product and supplier - for suppliers to communicate acceptance of, or exception to, the requirements -- Catalog Purchasing - a buyer purchasing indirect materials from an electronic catalog database of more than 1.5 million line items maintained by GXS and linked to respective suppliers -- Invoice Inquiry - a buyer publishing the status of invoices received by its suppliers -- Payment Settlements - a buyer and seller automating the matching of purchase order and invoice details to trigger a timely electronic funds transfer between the parties
In addition to these supply chain efficiency applications, GXS offers the following supporting services to optimize implementation success:
-- Six Sigma Engagement - a formal quality method for understanding customer business processes and economics to quantify e-commerce opportunities and ROI projections -- Digital Cockpit - concise visual presentation of critical supply chain data to help ensure sustainable results -- Community Enablement - tools and services to interconnect buyers and suppliers so they may transact business electronically, and integrate their information exchange with their back-office systems. GXS currently enables more than 100,000 trading partners around the world to exchange documents such as purchase orders and invoices reliably and securely over the Internet or private networks - Custom Portal - a custom Web site designed by GXS and sponsored by a buyer for the use of its supplier community to access the GXS Source-to-Pay Services suite
"GXS has helped thousands of buying organizations improve and automate the way they conduct business with their supplier community, from the large technology-savvy suppliers to the small paper-based suppliers," said Steven Scala GXS's vice president of marketing. "Our Source-to-Pay Services will enable buying organizations to extend even more of their business processes to their global supplier community, resulting in increased efficiencies, reduced costs and improved bottom-line performance."
About GE Global eXchange Services
GE Global eXchange Services (GXS) operates one of the largest B2B e-commerce networks in the world, with more than 100,000 trading partners. The network's 1 billion annual transactions account for $1 trillion in goods and services. With a presence in 58 countries, GXS applies Six Sigma quality processes to provide e-commerce solutions that help businesses around the globe remove costs from their supply chains. GE Global eXchange Services is a part of the General Electric Company, U.S.A., and is headquartered in Gaithersburg, Md. Call 800/560-4347 or visit our Web site at www.gxs.com.
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CONTACT:
GE Global eXchange Services, Gaithersburg
Jim Fowler, 301/340-5875