Barclays plc has enhanced BarclaysB2B, its business-to-business arm, to include reverse auctions and e-procurement.
The U.K.-based institution has contracted with Clarus, an e-commerce software provider, to use Clarus' eMarket and Clarus Sourcing products. The new software will be used to extend BarclaysB2B's sourcing-to- settlement solutions. It will provide both a sophisticated e-tender solution and an advanced, hosted e-procurement offering. The e-tender solution delivers the latest reverse auction software, enabling customers to enhance their traditional tender process, making it faster and more dynamic.
The hosted e-procurement offering provides private trading networks that enable buyers to streamline and integrate their procurement processes. By providing greater control over the purchasing cycle, the private trading network is designed to enable reduced costs and substantial time-savings. In both e-tenders and private trading networks, suppliers benefit from the ability to integrate with their systems, and openly compete head to head with their competitors.
The Clarus software is intended to enable a number of businesses, for which online trading offers vast opportunities, to benefit from a range of tailored services without requiring them to invest in a huge capital outlay. "We chose Clarus because of its open flexible architecture that will enable us to build value and services for our customers at a level appropriate to their needs," said Alison Hutchinson, CEO at BarclaysB2B.
Launched by Barclays in April 2000, BarclaysB2B creates value by generating efficiency and value in the procurement to payment sector. Its portfolio includes open and private marketplaces, auction and tendering services.
Over the past year, BarclaysB2B has enabled a range of market leading companies including WS Atkins, Nisa-Today and eCarDivision to revolutionize their business processes without having to make huge capital investments in new technology. Nisa-Today, for example, has now announced that 20 to 30 own-label categories will be sourced via BarclaysB2B by next summer, a big shift in its whole procurement strategy.
Key decision makers, including business owners, finance directors and procurement managers, are looking to manage their supply chains through innovative solutions, or "smarter sourcing," according to Hutchinson.