Red Herring, Inc. Magazine Highlight Success in Equipping Small African
Suppliers for e-Business
SINGAPORE, Nov. 8 /Xinhua-PRNewswire/ -- Quadrem, the Global
eMarketplace, announced its 2006 revenues are up 23% year-over-year at the
close of the third quarter. The value of transactions flowing through the
procurement platform in calendar year 2006 is on track to nearly double over
2005 numbers, reaching more than two million purchase orders worth USD $13
billion in goods and services.
"For years companies have been able to transact with their largest
suppliers online, but now a much higher return on investment can be achieved
by extending e-business to the mid-tier and smaller suppliers, allowing one
process to be leveraged for all," said Charles Jackson, Quadrem
CEO. "Quadrem’s teams around the world are unequalled in connecting our
customers with their entire supplier communities."
Quadrem has differentiated itself from other procure-to-pay solutions
providers by enabling companies from all areas of the globe, including small
suppliers in developing world environments, to take part in the Internet
Revolution. Recently the company was highlighted by Inc. Magazine and Red
Herring for its unique ability to connect rural suppliers in South Africa to
a buying community of Global 1000 Companies. Currently Quadrem has 47,000
suppliers connected to nearly 700 purchasing locations.
Quadrem’s EBITDA numbers are up substantially as well. "All regions show
good year-over-year increases in both year-to-date revenues and EBITDA
contribution," said CFO Gary Ito. "We’ve charted our fifth consecutive
quarter of positive EBITDA performance."*
"Our ability to overcome the challenges of international implementations
makes us an attractive partner to global organizations, many of whom are
looking to reduce costs and cycle times through smart automation and
streamlined processes," added Jackson. "The result is expanded opportunity
for the supplier community as well, as they begin to receive opportunities
via e-business that would not have reached them before."
About Quadrem
Quadrem ( http://www.quadrem.com ) provides e-business solutions that
connect buyers and suppliers to maximise supply chain efficiencies. Quadrem’
s global transaction platform, vibrant international trading community and
high-quality content services enable customers to implement the most
effective e-business initiatives for buyers and suppliers. Established in
2000, Quadrem has locations in Australia, Brazil, Canada, Chile, France,
Korea, Mexico, The Netherlands, Peru, Saudi Arabia, Singapore, South Africa,
the United Arab Emirates and the United States.
* Before non-cash stock-based compensation expense.
