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Planetasia-built Mindtrac.com goes live

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CIOL Bureau
New Update

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.

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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."

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