Leading vendor decision support tools co-developed by Open Ratings and Dun & Bradstreet to enhance purchase-evaluation engine for eProcurement
NEW YORK, N.Y. and BOSTON, Mass. October 17, 2000 – ExpertCommerce, Inc., a leading provider of proven online business-to-business purchase-evaluation technology, and Open Ratings, the global standard for supplier performance ratings, today announced a strategic alliance to offer unbiased supplier performance ratings to ExpertCommerce’s eValEngine customers. The supplier performance ratings will allow eValEngine users to obtain and evaluate third-party supplier performance information, giving them the confidence they need to complete and increase transactions and improve ROI. Through its strategic alliance with Dun & Bradstreet (NYSE:DNB), Open Ratings offers the only single point solution for businesses to obtain and evaluate B2B supplier performance information combined with D&B’s global database of 60 million businesses, the world’s largest and most valuable database of its kind.
ExpertCommerce’s eValEngine allows net market makers and suppliers to establish truly dynamic commerce, increase transaction volume and cement customer loyalty, and allows buyers to make more effective and efficient procurement decisions. By injecting marketplaces, supplier sites and procurement platforms with powerful, intelligent decision support technology, ExpertCommerce enables buyers to evaluate alternatives on multiple dimensions in real-time and enables suppliers to gain unique insight into purchasing behavior. The real time evaluation technology drives more dynamic and efficient auction, RFP/RFQ and catalog transactions. Results include more confident customers who are better equipped with the knowledge resources to mitigate risk and increase ROI, and customers who are more likely to complete transactions.
The supplier performance ratings offered to buyers using ExpertCommerce's eValEngine combine Open Ratings’ patent-pending predictive scoring of the likely performance of a vendor, based on criteria including timeliness, responsiveness and reliability, with D&B’s unparalleled information about a company’s financial strength and operating history. This offering gives eValEngine customers a dynamic resource to assist them in reducing uncertainty in dealings with new vendors, creating a more trusted, safer environment for business transactions.
"The combination of ExpertCommerce technology and Open Ratings' supplier performance ratings provides net markets with a very comprehensive B2B eProcurement application," said Stan Smith, CEO, president and founder of Open Ratings. "As more and more buyers and suppliers conduct business online, there are more potential but unknown trading partners than ever to source and evaluate. The selection process requires a wide range of attributes, including trusted supplier performance ratings and Dun & Bradstreet’s unparalleled global database of unbiased business information. By integrating our global supplier performance ratings into their powerful eValEngine, ExpertCommerce is offering a dynamic resource to assist its buyers in monitoring and evaluating suppliers in real time."
"Today, net markets need value added services to drive liquidity. Our customers will now be able to use Open Ratings’ global supplier performance ratings, along with the ExpertCommerce technology and tools, to make better procurement decisions," said Jon Fisse, president and COO of ExpertCommerce. "Open Ratings is the global standard for unbiased supplier performance ratings across all B2B eMarketplaces. Combine that with ExpertCommerce’s eValEngine technology which helps users evaluate large amounts of data based on corporate priorities, and you have a solution that is extremely powerful."
About ExpertCommerce, Inc.
Driving Intelligent Decisions.
Founded in 1999, with headquarters in New York City, ExpertCommerce, Inc. is a privately held company whose mission is to set the standard for decision-making, driving truly dynamic commerce between buyers and sellers and thereby beneficially impacting the bottom lines of all stakeholders. ExpertCommerce’s web-based, patented and patent pending eValEngine is the first and only decision-evaluation engine for the Internet marketplace to be driven by the Analytic Hierarchy Process (AHP), the most widely applied and proven decision-making theory in use today. For more information please visit: http://www.expertcommerce.com or call 212-404-1720.
About Open Ratings, Inc.
Open Ratings is the global standard for supplier performance ratings across all business-to-business eMarketplaces. Open Ratings offers a sophisticated, unbiased supplier performance ratings service that is designed to help businesses make informed and confident online transaction decisions. Based in Boston, Mass., Open Ratings was founded in May 1999 by Pattie Maes, MIT Media Lab e-commerce expert, Giorgos Zacharia, co-founder of the MIT Media Lab's Agent-mediated Electronic Commerce (AmEC) Initiative, and Stan Smith, former vice president and general manager of Agile Software. Open Ratings' investors include Ampersand Ventures, Atlas Venture and Dun & Bradstreet. More information about Open Ratings can be found at www.openratings.com or by calling 617-354-1232.
