27th Mar 2015 08:28
LONDON (Alliance News) - CloudBuy PLC Friday said it has partnered with a US cloud-based provider of procurement services, to provide a platform allowing end users to buy from successful tenders and provide visibility of the throughput and savings achieved.
The cloud-based e-commerce company said the new partner's client base represents over USD3 billion in annual spend under management, and under the partnership clients will now have access to the spend analysis, market intelligence and procure-to-pay services that cloudBuy provides.
Under a contract in the mutual referral partnership, cloudBuy is expected to secure USD600,000 per annum after the first customer signs up.
Services are expected to "go live" at the start of April.
"The US market is the largest and most mature globally for procurement services. With our partner we can fast track our market entry into the F2000 and already have leads into government and education, healthcare, manufacturing, real estate, chemicals, energy, retail and fast food companies/industries," cloudBuy Chairman Ronald Duncan said in a statement.
"This capability complements our work in Asia Pacific, particularly in India, where the CII members are of particular interest to global corporates, which source many of their manufactured goods from this group of suppliers," he added.
cloudBuy shares were trading up 7.8% at 22.1 pence Friday morning.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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