Trelleborg Automotive Americas Implements Ventro's Collaborative Commerce Solution for B2B Procurement; Ventro to Provide Solution for Streamlining Complex RFQ Process
MOUNTAIN VIEW, Calif.--Aug. 16, 2001--Ventro(TM) Corporation , a pioneer in business-to-business e-commerce, today announced that Trelleborg Automotive has completed the initial implementation of the Ventro collaborative commerce solution (formerly known as NexPrise ipTeam) as its primary B2B procurement system for the Americas group. Trelleborg Automotive, a division of the Trelleborg Group, is a leading global supplier to the world's automotive industry. The business area is active in the development, production and sales of anti-vibration products, molded products, hoses and sound absorbing products for brakes. The Trelleborg Group has annual sales of $1.6 billion, with approximately 16,000 employees in 40 countries.Trelleborg Automotive selected the Ventro solution with the intent to significantly streamline the RFQ process for procuring quotations for engineered products. This will be accomplished by eliminating the need for data re-entry into multiple systems -- which often resulted in costly delays and input inconsistencies -- and by driving timely bid responses from participating suppliers. Just weeks into the implementation, Trelleborg has already realized several benefits from using the solution:
| -- | Ability to see real-time bid status: The buying team can now see, in real-time, which supplier has or has not responded to a bid, and where they are in the bid process. |
| -- | Elimination of data re-entry: Before, data had to be entered in multiple systems, often resulting in human error. Now, data is entered once into the solution, and is immediately propagated into all relevant systems. |
| -- | Remote access for executives: Executives involved in crucial decision-making processes can access and review all relevant documents over the Internet, from anywhere, at anytime. |
| -- | Instant feedback for suppliers: Suppliers are now able to easily track the status of their bids, no matter what the outcome, encouraging them to be more competitive in future opportunities. |
"We are pleased with the results that we have experienced so far with the Ventro solution, and we expect greater things to come," said Janet Lubeck, global administrator for Trelleborg Automotive. "The solution plays an important role in the optimization of Trelleborg's critical business processes. It is already improving our procurement processes in the United States, and we are currently working to expand our implementation to the European community by first quarter 2002. We also plan to explore using the solution in our Advanced Product Quality Planning (APQP) process."
"We are very happy to be working with, and supplying our technology to, a world-class supplier like Trelleborg," said David Perry, CEO of Ventro. "We share Trelleborg's goals of greater innovation and efficiency in critical business processes such as collaborative procurement, program management and execution. We admire Trelleborg's accomplishments, and look forward to helping them with future endeavors."
About Trelleborg
The Trelleborg Group is organized in four business areas -- Trelleborg Automotive, Trelleborg Wheel Systems, Trelleborg Engineered Systems, and Trelleborg Building Systems. The Trelleborg Group has annual sales of SEK 17 billion (performa including the acquisition of LAC), with approximately 16,000 employees in 40 countries. The Trelleborg share has been traded on the OM Stockholm Stock Exchange since 1964. For more information, visit www.trelleborg.com.
About Ventro
Ventro Corporation is a pioneer in business-to-business e-commerce. Ventro provides collaborative commerce solutions that enable companies to manage key processes with their suppliers, partners and customers, including complex procurement, collaborative product development and program management. Ventro Corporation is headquartered in Mountain View. For more information, please visit www.ventro.com.
Safe Harbor Statement
"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regarding Ventro's business which are not historical facts are "forward-looking statements" that involve risks and uncertainties. These potential risks and uncertainties could cause actual results to differ from those contained in the forward-looking statements and include, without limitation, Ventro's ability to integrate the operations and personnel of NexPrise, develop a viable technology and service offering and reduce its operating expenses. These and other risk factors are described in detail in the company's filings with the Securities and Exchange Commission.