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 VERTICALNET SELECTS ORDERTRUST TO MANAGE BACK-END ORDER PROCESSING FOR
ITS MARKETPLACE
HORSHAM, Pa. and LOWELL, Mass., July 6, 1999 --
VerticalNet, Inc. (Nasdaq:VERT), the premier online business-to-business marketplace of
virtual communities, and OrderTrust, a provider of integrated order management services
for e-commerce, announced today that VerticalNet� has selected OrderTrust to deliver
back-end order management services for its e-commerce Marketplace.
VerticalNet’s extensive Marketplace contains thousands
of business-to-business products and services that demand a high-end order management
service to allow the e-store to run efficiently. While OrderTrust manages the back-end
order processing, VerticalNet is free to focus on growing its online communities,
expanding its product and service offerings and driving traffic to the Marketplace.
"As our communities and e-commerce initiatives grow,
we realize the need for a flexible processing system," said Mark Walsh, CEO of
VerticalNet. "The OrderTrust network will help VerticalNet handle the operational
complexity involved in routing orders to third-party participants, while we continue to
address the expansion of our business-to-business communities on the Internet."
OrderTrust’s system manages information throughout the
entire lifecycle of any VerticalNet Marketplace order. For example, when a Marketplace
customer places an order, the OrderTrust network captures that order, parses it by line
item, and routes order information to the appropriate third-party supplier. In addition,
OrderTrust receives order acknowledgements and status updates back from the third-parties
and manages financial settlement through a payment processor connected to the network.
These capabilities combine to provide a complete and efficient order processing service,
which enables VerticalNet to better service its MarketPlace customers and focus resources
on growing its business.
"Managing the intricacies of order processing can be a
complicated and resource-draining process," said Jim Daniell, CEO of OrderTrust.
"OrderTrust understands what VerticalNet needs to sustain a successful e-commerce
offering. We eliminate the headaches of order processing, enabling VerticalNet to
concentrate on enhancing its business-to-business outreach."
About VerticalNet
VerticalNet, Inc., (www.verticalnet.com)
is the Internet’s premier developer of business-to-business communities of content
and commerce.
The company currently operates 43 vertical communities
grouped into ten sectors:
- ADVANCED TECHNOLOGIES: Aerospace Online, Computer OEM
Online, Medical Design Online, Test and Measurement.com, Plant Automation.com, Embedded
Technology.com
- COMMUNICATIONS: Wireless Design Online, Photonics
Online, Fiber Optics Online, RF Globalnet.com, Premises Networks.com, Digital
Broadcasting.com
- ENVIRONMENTAL: Water Online, Pollution Online, Public
Works Online, Solid Waste Online, Power Online, Pulp and Paper Online, Safety Online,
ElectricNet.com
- FOOD AND PACKAGING: Food Online, Food Ingredients
Online, Beverage Online, Bakery Online, Meat and Poultry Online, Dairy Network.com,
Packaging Network.com
- FOODSERVICE/ HOSPITALITY: Foodservice Central.com
- HEALTHCARE: Hospital Network.com, Nurses.com and
E-Dental.com
- MANUFACTURING AND METALS: TechSpex
- PROCESS: Chemical Online, Pharmaceutical Online,
Hydrocarbon Online, Semiconductor Online, Paint and Coatings.com, Adhesives and
Sealants.com, , Oil and Gas Online
- SCIENCE: Bioresearch Online, Drug Discovery Online,
Laboratory Network.com;
- SERVICE: PropertyAndCasualty.com
VerticalNet is the registered trademark of VerticalNet, Inc. All other names are
trademarks and/or registered trademarks of
their respective owners.
About OrderTrust
Privately held and based in Lowell, MA, OrderTrust provides
integrated order management services for e-commerce. Through its fully redundant, 7 x 24 x
365 network operations center, OrderTrust securely and reliably manages information
throughout the lifecycle of an order, ensuring 100% monitoring and auditing of all
transactions. Services include order capture, routing of separate fulfillment requests to
multiple suppliers, credit card authorization and appropriate merchant compensation, and
e-mail notification of order status to consumers. By taking advantage of the OrderTrust
network, merchants can focus on front-end e-commerce initiatives, such as building brand
identity and driving traffic to their sites, while providing superior service to their
customers. For more information, visit our Web site at www.ordertrust.net.
OrderTrust is a trademark of OrderTrust LLC. All
other names and trademarks are the properties of their respective owners.
# # #
Contacts:
Robert Richter
PepperCom for VerticalNet
(212) 931-6113
[email protected]
Carrie A. Marino
Lois Paul & Partners
(781) 238-5734
[email protected]
Margie Ferro
OrderTrust LLC
(978) 551-5077
[email protected] |