Partners will provide a joint buying
capacity of over one trillion pesetas per year.
Repsol YPF, BBVA, Iberia and Telef�nica
have associated to set up an equal partnership joint venture to run an
e-procurement exchange for the acquisition of non-production goods and services
required by all four companies.
The new company, in which all partners
will have equal shares and rights, is the first of its kind in Spain, and has
been created with the intention of covering a wide membership spectrum. New
local partners are expected to join the venture in the countries where the
network is developed, in order to buy and sell through this
portal.
Today, non-production goods and services purchased by companies
via Internet account for 20% to 25% of global corporate buying, which gives the
new company an overall buying capacity of more than one trillion pesetas, (6
billion euros) per year.
The main benefits for buyers and sellers will
be:
- A huge cut in the overheads related to buying operations.
- Lower prices.
- Greater efficiency in buying and selling processes, reducing inefficiency
and increasing transparency.
- The opening up of new markets and commercial channels to suppliers.
- Lower stock overheads.
- The elimination of intermediary inefficiency in certain distribution
chains.
This agreement forms part of a strategic alliance between
Telef�nica and BBVA, now strengthened in this market by the incorporation of
Repsol YPF and Iberia. This horizontal portal is intended to be the largest in
Spain and will include an online system of payment and credit card facilities,
developed under the leadership of Telef�nica and BBVA, which will offer services
such as printed receipts to buyers and sellers, electronically presented
invoices, and the method of payment chosen by the parties to each
transaction.
Although the agreement mentioned herein refers to the
development of this new business in Spain, similar agreements are under
negotiation in all Latin American countries for the purpose of creating a
regional network to maximise economies of scale and ensure larger and better
opportunities for buyers and sellers. It is estimated that companies currently
trading in marketplaces of this kind obtain savings of between 10% and 20% on
their supplies.
This regional network will also be operated by Telef�nica
and BBVA, who supply the e-commerce technology necessary for each country,
serving as a basis on which to develop payment facilities, logistics and other
added value services required to carry out such on-line
operations.
Repsol YPF�s membership of this e-network complements its
participation in other such exchanges for e-commerce. Repsol YPF is also a
charter member, together with other international oil majors, of a similar
energy portal for the purchase of the goods and services required for production
by each of its business areas. Through its chemical division, it is a member of
ChemConnect, an e-commerce network specialised in chemical products.
The
company recently presented its web-site www.repsol-ypf.com on Internet. This
web-site stands out from others in that it does not exclusively target the
company�s customers, but is addressed to all Internet consumers and users,
including those who do not buy Repsol YPF products. It includes the corporate
web and is intended to strengthen and increase the capacity to attend current
and future customers.
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