11 April 2002 | Robin Parker
GE Global eXchange Services has launched a suite of hosted tools to automate contract compliance between purchasers and suppliers.
The seven-part set of products is aimed at global food service firms, hotel chains and consumer goods groups.
The target audience often has no access to invoices from suppliers to distributors, which are based on negotiated contract prices.
The core online services comprise automatic invoice compliance, electronic tracking of supplier rebates, and a contract maintenance function to compare line items across suppliers and identify overlapping or expired contracts.
Support services include a tool to quantify e-commerce opportunities and return on investment forecasts, and a "digital cockpit" that provides visual supply chain data.
The tools have been piloted at US-based restaurant buyers group the Independent Purchasing Co-operative, which says it increased pricing compliance from suppliers to distributors by 98 per cent in the first year.