SESAMi's Auction Services is an effective tool for conducting dynamic online exchanges with suppliers, channel partners and customers at the virtual marketplace. Its users will have full control over both data and the bidding process.
SINGAPORE, 13 Mar 2000 --- SESAMi.com today launched ChemX, Asia's first B2B e-commerce portal dedicated to the chemical industry.
It also announced the availability of its fully integrated SESAMi Auction Services for businesses powered by Commerce One, making it the first e-commerce solution provider and portal operator in Asia to offer comprehensive auction services that is integrated to its B2B e-commerce portal, SESAMi.NET. Both ChemX and SESAMi.com Auction services are linked to the Global Trading Web comprising commerce portals around the world, facilitating true global trade.
ChemX is a comprehensive B2B e-commerce portal created exclusively for the fast-paced and demanding chemical industry. It provides a comprehensive suite of solutions to meet all the e-commerce needs of companies in the chemical industry. The solutions include e-MRO (for procuring maintenance, repair and operations items); e-Direct (for procuring direct materials); auction services; plant maintenance and asset management; supply order management as well as market intelligence and information services.
ChemX brings the chemical community to the desktop. For buyers, ChemX improves their operational efficiency, reduces inventory holding costs, material prices and procurement cycle time as well as facilitates strategic sourcing, contract consolidation and negotiation. For suppliers, ChemX opens up new markets and sales channels, streamlines order management and improves profit margins. In effect, companies in the chemical industry can operate within their local markets and yet trade in a virtual global marketplace through ChemX's connection to SESAMi.NET and the Global Trading Web.
Business-to-business e-commerce in this region is expected to double each year. The chemical industry is estimated to be worth US$1.6 trillion. With a major portion of the global chemical industry expected to conduct business on the Internet, ChemX will bring the worldwide chemical communities closer together. Through SESAMi.NET, all the players of the chemical industry - buyers, sellers and service providers; will be linked. ChemX will enable them to source for new materials and obtain the latest prices and stock availability in real-time, said Ms Poh Mui Hoon, managing director of SESAMi.com.
Eastman Chemical Asia Pacific Pte Ltd will be the first tenant on ChemX. Its initial involvement will be to use the ChemX portal to source indirect materials for their plants in Asia. Mr Alfred A Voskian, president and managing director of Eastman Chemical Asia Pacific said, "Eastman sees great value in ChemX, a portal dedicated to serve the Asian chemical industry which is an important and growing industry for the region. Eastman has aggressive e-commerce strategies because we believe the Internet will have a profound impact on the chemical industry. Our decision to become the first tenant on SESAMi's ChemX portal is an illustration of that."
He further added that Eastman expects to see significant financial benefits from implementing e-MRO that commensurate with the excellent outcome achieved through similar implementation at its USA locations. SESAMi.com is partnering key service and technology providers to ensure that the ChemX portal offers a total e-commerce solution that meets the complete and special needs of the chemical industry.
Among them are BDP Asia-Pacific, Datastream Inc, Elite, ICIS-LOR, Lycos-Asia and Sterling Commerce.
"The ability to maintain chemical plants in tip-top shape is critical to any plant manager. Datastream's web-enabled maintenance management solutions are a great fit with SESAMi.com, and our shared vision of doing business on the Internet. This partnership allows the end user in the chemical industry to access one portal for his business needs which will improve efficiency, reduce downtime and improve the bottom line. Datastream is pleased to be working with SESAMi to strengthen our position as the world leader in Enterprise Asset Management (EAM) and e-commerce," said Mr Allen Gantt, director of corporate sales-Asia Pacific of Datastream Inc.
ICIS-LOR will be making available on ChemX its market intelligence on the chemical industry. "ICIS-LOR is pleased to partner with SESAMi.com, a reputable e-commerce portal operator committed to the chemical industry. We recognize the tremendous potential for our business and believe that the relationship with SESAMi.com will support our growth objectives and reinforce our strong brand presence in the region," said Mr Roger Lewis, group sales and marketing manager of the Reed Chemical Group, Asia Pacific and Middle East. ICIS-LOR is part of Reed Business Information Ltd.
Ms Mary Ong, chief executive officer of Lycos Asia Pte Ltd added: "Lycos Asia brings the Lycos search engine technology to the ChemX portal. The portal provides special-to-type searches of information relating to the chemical industry as well as business-related content, thereby enhancing the value of the portal in the B2B arena. We are indeed glad to be able to contribute to the successful launch of ChemX. SESAMi Auction Services SESAMi.com also announced the availability of SESAMi Auction Services, powered by Commerce One, as part of its end-to-end integrated e-commerce solution offering for businesses in Asia." These new services include forward auction, request for quote (RFQ), and reverse auction and exchange mechanisms.
With SESAMi's forward auctions, sellers can liquidate excess or slow-moving inventory at better prices and thereby maximise profit margins. Buyers can use reverse auctions to establish true market prices for goods and services, dramatically lower purchasing costs and improve supplier relationships. Users of SESAMi's Auction Services will have full control over both data and the bidding process. The automation of the entire negotiation process coupled with faster transaction speeds will help users save time, money and man-hours.
"SESAMi's Auction Services will enable B2B auctions to be conducted around the world through its linkage to the Global Trading Web. B2B auction transactions are expected increased exponentially. Through the Global Trading Web, businesses can conduct auctions that involve buyers and suppliers around the entire globe, said Mr Carl Falk, senior vice-president of Commerce One."
ChemX will be the first industry portal that will operate SESAMi Auction Services. SESAMi Auction is also designed to allow buyers and sellers to take part in forward and reverse auctions through private-labeled auctions, SESAMi.NET, or through other portals on the Global Trading Web. Ms Poh said: "We are excited about working closely with our partners to develop ChemX into Asia's pre-eminent B2B e-commerce portal dedicated to the chemical industry.
"With the availability of SESAMi Auction Services, we are ready to work with entrepreneurs with a keen interest to operate auctions, to jump-start and bring to market their private-labeled auctions. SESAMi Auctions Services provides a ready platform for rapid deployment of private-labeled auctions."
Industry analysts forecast that the B2B e-commerce and auction sales will grow exponentially in the coming years. US-based Forrester Research projects that annual B2B e-commerce will soar from US$43 billion in 1998 to US$1.3 trillion by 2003, and that B2B auction sales will increase from US$8.7 billion in 1998 to US$52 billion in 2002.
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