SOURCE: Emptoris

January 17, 2008 11:47 ET

TODO1 Selects Emptoris for Global Sourcing

Alliance of South American Banks Selects Emptoris Citing Robust Functionality and Global Capabilities and Support

BURLINGTON, MA--(Marketwire - January 17, 2008) - Emptoris, Inc., a leading provider of enterprise supply and contract management software, today announced that TODO1, an e-business solution provider serving its shareholders, an alliance of leading South American banks, has selected Emptoris to provide global sourcing solutions for its member banks.

Through TODO1, a group of leading independent banks works to develop new business opportunities, enrich service and product offerings and take advantage of economies of scale to invest in and develop new technologies. The TODO1 consortium includes Grupo Mercantil from Venezuela and Grupo Bancolombia from Colombia.

TODO1 will use Emptoris Sourcing to manage a global sourcing program for its member banks and corporate clients in Colombia and Venezuela. Member banks and corporate clients have been participating in TODO1's "Mercado Digital" eSourcing community for the past 5 years.

"Excellence in sourcing and contract management is imperative to financial institutions and companies competing in an increasingly global economy," said Felipe Uribe, Vice President for Product Development with TODO1. "Leading research firms confirmed what our evaluation demonstrated. Emptoris has the functional richness and the global capabilities necessary for a successful sourcing technology. The solution is exceptionally flexible and can accommodate the business processes and sourcing negotiations of any level of sophistication."

The Emptoris Sourcing solution allows companies to source the best products and services from suppliers while driving cost competitiveness, minimizing supply base risk and reducing sourcing cycle time. The Emptoris solution has received the highest ranking in the most recent Forrester research report examining sourcing technologies, The Forrester Wave™: eSourcing Suite.

Emptoris Sourcing is a complete and global strategic sourcing solution, which includes a Dynamic RFx module which streamlines and automates the sourcing process, as well as Buyer Decision Support and Supplier Decision Support that empower enterprises to better collaborate with their suppliers and realize best value. Emptoris Sourcing, and each Emptoris solution, is available in at least 10 global languages. The solution offers multi-currency bidding in auctions, real-time currency conversion, and historically accurate reporting in multiple currencies. With Emptoris Sourcing, companies can run scenario analysis to determine how various currency fluctuations might impact future costs and supplier allocations.

About Emptoris

Emptoris is a world leader in innovative supply and contract management solutions that empower enterprises to realize best value and accelerate profitable growth. Emptoris solutions are used by successful Global 2000 companies in every industry. Customers include American Express, Boeing, Cigna, ConocoPhillips, GlaxoSmithKline, Kraft, Motorola, Owens Corning, Syngenta and Vodafone.

About TODO1

TODO1 Services, Inc. is a Miami-headquartered company that provides e-business solutions to its shareholders, leading banking institutions in the Latin-American Region and Florida -- Banco Mercantil C.A (Venezuela), Bancolombia S.A (Colombia) and Mercantil Commercebank, N.A (Florida, USA) -- in order to leverage their leadership in the local and regional market. TODO1'S current product portfolio includes among others, solutions of Retailing Online Banking, Online Banking for Businesses, Electronic Billing Presentment and Payment, a B2B Exchange and B2C commerce tools. TODO1's products and services have won many international recognized awards such as Global Finance's World Best Internet Banks 2007. TODO1 brings its clients the industry-specific assets that add value to banking, by enabling their business processes and embedding in them the financial products and services required for seamless, "straight through processing" operation. More information is available on www.todo1services.com.

Contact Information

  • For further information, contact:
    Dan Cahill
    (917) 617-0106
    Email Contact