German electronic marketplace to see profit this year

Munich. SupplyOn AG, the purchasing platform for the supplier industry, will make a profit for the first time this year according to management board member Markus Quicken.

Last year SupplyOn managed sales of approximately 16 million euros with 65 employees and Quicken said he did not see any downturn in business. "We make as many transactions within purchasing in a week or two as our competitors make in a year."

Quicken said SupplyOn was looking to expand its portfolio. Since last year for example there has been a software tool for document management solutions. Documents with standards or drawings can be accessed by participants via the internet market place. Currently many businesses still receive them through the post or -- "specifically security aware" -- via e-mail.

SupplyOn is paid not according to the number of individual transactions made but depending on the size of each business. Companies that undertake purchases will usually pay a six figure sum per year.

A complete package with access to approximately 500 suppliers will cost a purchasing company approximately 2 million a year for which they not only get purchasing functions but also an integrated document management, a logistics link to smaller suppliers, a virtual project room for development plans and different quality management tools.

A so-called "performance monitor" for the communication of data for the assessment of suppliers is also available.

The number of SupplyOn customers has risen consistently during the past few years. Today the company has already approximately 4,750 participating suppliers. This corresponds with approximately 50 percent of the current total purchasing volume within Europe. Around 70 percent of all European suppliers are already customers of SupplyOn, Quicken added.

Tags: Suppliers

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