IngredientsNet.com, the Ireland-based ingredients marketplace, has launched two new private-procurement solutions. One of the most recent trends to emerge from the e-business world is a strong desire for traders to know whom they are doing business with, and IngredientsNet.com’s ProcureSelect and ProcureWare platforms offer users just that.


ProcureSelect is an e-procurement platform affording buyers the opportunity to invite known suppliers to trade in a private and secure environment.


The other new offering, ProcureWare, is a secure customised e-procurement solution, which enables users to source ingredients online without funnelling investment into a dedicated platform. The platform is branded by the buying company’s corporate identity, but is designed, implemented and hosted by IngredientsNet.com.


The trend towards private marketplaces indicates how little the etiquette informing sales and purchasing decisions has been changed by the new trading channels opened up via the Web. Many ingredients buyers still need the comfort zone of knowing who they are dealing with – especially given the sensitive issues involved in many food ingredients purchases. Issues such as irradiation, GM, traceability, certification and food safety have to be clarified when buying ingredients, and familiarity with trading partners eases this process.


Announcing its two new solutions, IngredientsNet.com quoted research published by AMR forecasting that private e-hubs will form the cornerstone of the US$5.7bn e-commerce market. IngredientsNet.com founder and CEO Tom Galvin commented: “Companies have become more sophisticated in their knowledge of e-procurement and require a solution that allows them to trade privately with their preferred suppliers, but also that can be implemented quickly.”


Finding the right blend will be crucial as rival e-procurement solutions fight it out. The power and convenience of the Internet needs to be harnessed using solutions that offer traders security and privacy when they need it. Other marketplaces are also investing in private marketplace facilities and the trend is set to mushroom.