BANGALORE: Planetasia has announced the build-up of traction on its Ariba-built
global tyre marketplace, Mindtrac.com. Apart from being the first digital
marketplace on the Ariba platform to go live in Asia-Pacific, this is also one
of the Global Lighthouse Projects for Ariba Inc. Ariba Global Lighthouse
projects are those that are projected as successful referral marketplaces of the
future, and Mindtrac was chosen for its business model.
Mindtrac.com, headquartered in Singapore, is targeted exclusively at the tyre
trading and manufacturing community. It provides buyers and sellers with the
ability to trade online without incurring additional costs of a traditional
multi-level distribution channel. The solution, as developed by Planetasia,
incorporates the Ariba Marketplace engine for find-buy-sell transactions. The
Ariba solution has a host of third party services like payment settlement and
logistics to enable the entire transaction to be completed online.
The Planetasia implementation includes implementation and customization of the
Ariba Marketplace engine for specific business logic as well as integrating the
marketplace with various enabling services like banks, logistics, insurance,
credit, inspection etc. Planetasia has also integrated Mindtrac with the secure
messaging network of Bolero.net, which guarantees secure transfer of business
critical documents/messages across various parties such as the marketplace,
bank, logistics provider, buyer, seller etc. Future augmentations planned to
Mindtrac.com are online negotiations, community trading etc.
Mindtrac.com went live in 90 days and has already transacted business of over
$6 million and is expected to reach $75 million by May 2001. According to
Mindtrac.com CEO G S Sareen, "With the B2B marketplace still in its infancy
in the Asia-Pacific region and the time-to-market element extremely crucial in
this highly competitive industry, Mindtrac chose Ariba and Planetasia as its
solution providers due to their proven expertise in architecting and
implementing B2B marketplaces."