January 10, 2006
iTradeNetwork's On-Demand Solutions Exceed $110B in Volume in 2005
Livermore, CA. (January 10, 2006) - iTradeNetwork, Inc. (ITN) announced today that trading volume through their On-Demand Solutions exceeded $110B in 2005. ITN's On-Demand Real-Time Applications continue to gain acceptance in the Retail and Foodservice industries. ITN's suite of applications include: Order Management System (OMS), Logistics, Contract and Rebate Management (CaRMA), Promotional Planning, Demand Forecast, VMI, and Financial Services.
According to Rob Bonavito, ITN's CEO: "Our momentum entering 2006 is extremely gratifying. The significant increases were due to continued roll-out of existing customers as well as the addition of several major retailers and foodservice distributors in 2005. We project that volume to again double over the next 18 months as existing customers avail themselves of incremental functionality and incorporate additional commodities into their ITN program. We are pleased with ITN's penetration of additional buy-side customer segments such as Restaurant Chain Operators and we plan to continue our geographic expansion throughout Canada and Europe (Q2 '06)."
From a manufacturer's perspective, having one solution provider capable of providing a single point of connectivity to all sell-side customer opportunities in both the Retail and Foodservice channels is both compelling and cost effective.
According to John Lea, Senior Group Vice President and Chief Development Officer of Tyson Foods, "With significant customers in both the Retail and Foodservice sectors, we challenged iTradeNetwork to address our eCommerce requirements in both of these important segments. We have found ITN delivers the best overall value and the single point of connectivity we desire."
"Our customers have found that the implementation process of ITN On-Demand solutions takes a fraction of the time that traditional ERP systems take, therefore they are able to be up and deployed in record time. Rapid deployment equals accelerated cost savings and benefits. We currently have in excess of five million unique product codes in our database providing comprehensive data synchronization across 4,000 trading partners." Said Robert Bonavito, Chief Executive Officer of iTradeNetwork.
About iTradeNetwork, Inc
iTradeNetwork is a privately held technology leader in On-Demand E-Business solutions. The ITN suite of workflow collaboration products include: Order Management System (OMS), Logistics, Contract and Rebate Management (CaRMA), Promotional Planning, Demand Forecast, VMI, Financial Services and Content, as well as low cost integration to customers legacy systems. 16 of the top 20 North American Retailers and most leading Foodservice companies are utilizing iTradeNetwork's e-business solutions with over 4,000 trading partners/customers.
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