E-Sourcing Technology Company, MarketMaker4, Secures 11 New Contracts In First Quarter Since Acquisition by Xchanging
LONDON and CHICAGO, January 29, 2014 /PRNewswire/ --
Xchanging plc, the business process, procurement and technology services provider, has announced that its recently-acquired eSourcing technology business, MarketMaker4 (MM4), has won 11 new customer contracts since the acquisition in late September 2013. The momentum further cements MM4's position in the burgeoning eSourcing market, which saw global revenue growth of 5.9% in 2012.
The new contracts extend MarketMaker4's presence in its key sectors including Retail, CPG, Automotive and Industrial Manufacturing, as well as taking the company into new industries including Financial Services and Healthcare.
In addition, several of the contracts were secured through add-ons to Xchanging's client base, including Severn Trent Services, a leading supplier of water and wastewater solutions, where MM4's eSourcing platform acts as a critical driver in delivering savings for the business.
Closure Systems International is one of the companies implementing MarketMaker4's unique Software-as-a-Service solution that includes MarketMaking™ (tactical support), a state of the art eSourcing Suite, integrated Company Intelligence and Relevant Market Insights.
JaneAnn Gifford, Global Procurement Director at Closure Systems International explains: "In the span of just a couple months, we've already achieved significant cost reductions and supply chain efficiencies using the MarketMaker4 solution. The online negotiation platform is a game-changer and the MarketMaking tactical supplier support is world class."
Dave Bowen, MarketMaker4 CEO, comments: "The MarketMaker4 solution continues to attract interest in every major global industry. Our success over the past 100 days represents a continued increase in our contract acquisition rate, which can be directly attributed to the commitment of our rapidly expanding MM4 team, the wide-ranging support provided by Xchanging, and the insights and feedback we receive from our customers every day. We look forward to continuing to offer our valued clients cutting edge eSourcing solutions and support services in 2014 and beyond."
Ed Cross, Executive Director, Xchanging Procurement Services, adds: "Within only a few years, MarketMaker4 became well established in the corporate procurement market, particularly in the U.S. Being part of Xchanging, which was initially an MM4 customer, has further accelerated inbound global interest from companies in every vertical sector, and established opportunities to deliver further benefits to both company's customers via a wide range of offerings."
MarketMaker4 continues to be marketed under its own brand name in order to leverage its well-established position in the eSourcing market. This will support Xchanging's strategic global growth strategy by extending its presence in North America, a region which has significant growth opportunities for the procurement business, whilst also creating business development opportunities for Xchanging's existing procurement products and services.
When MarketMaker4 is engaged in tandem with Xchanging's services overlay and other products, customers get the benefit of a powerful end-to-end sourcing and procurement solution capable of generating tremendous efficiencies and cost savings. Xchanging is currently the world's third largest procurement services provider with a team of more than 600 sourcing and procurement professionals.
Notes to editors
MarketMaker4
MarketMaker4 has an existing global customer base spanning the U.S, Canada, Mexico, China and the UK. Customers are spread across a wide range of industries, with a particular focus on the manufacturing and retail sectors.
Headquartered in Chicago, with offices in London, Shanghai and Dubai, MM4 was founded in 2010 by Chirag Shah, Dave Bowen and Alan Buxton. They will remain as shareholding directors with the business, bringing additional specialist business development expertise to Xchanging.
More information on MM4's MarketMaking solution is available here: http://www.mm4.com/marketmaking.php
Xchanging
What we are
Xchanging provides business processing, technology and procurement services internationally for customers across multiple industries.
What we do
Xchanging brings innovation, thought leadership and passion to its customers' businesses so as to enhance performance and value. Our values are embedded into everything we do.
What we want to be
Xchanging wants to be regarded as the best provider in its chosen markets by delivering services that are recognised for outstanding quality, reliability and innovation.
For further information, please contact:
Finn Partners for Xchanging/MarketMaker4 US
Megan Parker
Direct phone: +1-312-329-3975
E-mail: xchanging@finnpartners.com
Lansons Communications for Xchanging/ MarketMaker4 UK
Jessica Warner
Phone: +44(0)20-7294-3601
E-mail: xchangingprocurement@lansons.com
Share this article