Aussie Companies Unite To Share Several Benefits

Compiled ByJonathan Katz Fourteen of Australia's leading companies announced a move to make the nation's first multiple-industry business-to-business e-marketplace: corProcure. The companies involved include Amcor, AMP, ANZ, Australia Post, BHP, Coca-Cola Amatil, Coles Myer, Foster's, Goodman Fielder, Orica, Pacific Dunlop, Quantas, Telstra, and Wesfarmers. These companies intend to spend more than A$8 billion (US$4.7 billion) on indirect goods and services using corProcure over the next two years. The total value of indirect spending in Australia exceeds A$300 billion (US$177 billion) annually. "corProcure is an initiative that will transform procurement practices in Australia, create new value for buyers and suppliers, and give all participants an improved competitive footing in the regional and global economy," the founding shareholders said in a joint statement. The statement also highlighted other benefits such as suppliers gaining access to a much larger customer base, reduction of administration and customer acquisition costs, and better management of product demand processes. Buyers will benefit from simplified ordering processes and improved order accuracy.