Millennia Vision Helps Build B2B Portal for Tool and Equipment Market
28 August 2000
Millennia Vision Helps Build First B2B Portal for $30 Billion Automotive Tool and Equipment Market
REDWOOD SHORES, Calif.--Aug. 28, 2000--Millennia Vision, a full-service provider (FSP) of e-business solutions, today celebrated its involvement in bringing the automotive equipment market to the Internet with the launch of Ontool.com. Millennia Vision partnered with Ontool.com in developing and deploying its B2B portal, which it believes will become the automotive service industry's first and most important tool and equipment e-marketplace.
"To succeed in our market, we had to be the 'first-mover' - getting our portal up and running before anyone else," said Anthony Zack, president and CEO of Ontool.com. "Millennia Vision excelled at helping us turn our vision into a solid, scalable business by enabling us to concentrate on our product and partner essentials while they built the infrastructure to support our site and manage our growth. As our ASP, Millennia Vision will continue to be integral to the success of our company."
Ontool.com's portal is the first to target the lucrative $30 billion automotive tool and equipment aftermarket, according to Rudy Wolf, publisher of Professional Tool and Equipment News, one of the automotive service industry's leading trade magazines. With the growing complexity of new automobiles, servicing and repairing them has become increasingly tool and technology dependent. Professionals in this industry spend an average of $35,000 on tools and equipment in their first five years in business, and will continue to spend almost $3,200 per year on new tools, according to Wolf. Ontool.com's business model will allow automotive service professionals to research, source and purchase tools and equipment online, while significantly streamlining the ordering, distribution and fulfillment of those products.
Creating Value in E-Time
Ontool.com came to Millennia Vision with a basic business model that required a rapid site launch in order to beat potential competitors to market, a critical advantage in such a crowded Internet economy. Millennia Vision used its proprietary e-products to define core business processes, develop a network roadmap and configure the Web development and business applications necessary to launch Ontool.com's site, on time and on budget. Millennia Vision's scalable and integrated solution will enable Ontool.com to accommodate large volumes of transactions, allowing the B2B to capitalize on the multi-billion dollar market opportunity.
Millennia Vision will continue to work with Ontool.com under a three-year contract for its ASP services. As Ontool.com's ASP, Millennia Vision will maintain and manage its Web and business applications, allowing the company to focus on establishing sales, building relationships and developing its brand.
"Millennia Vision has shown that it can transform a business opportunity into a business reality," said Austin Erlich, president and CEO, Millennia Vision. "Our FSP approach combines proven strategies with the appropriate technology and infrastructure to provide e-business solutions designed to increase our clients' value in a highly competitive, highly volatile economy."