Wipro 01 Markets completes first year of operations

01markets, an eProcurement initiative of Wipro Ltd, announcet its completion oof one full year of operations. Launched in September 2000 as a B2B marketplace for IT products after realizing the need for cutting procurement costs, 01markets repositioned itself as an eProcurement service provider providing reverse and forward auction services, eProcurement consultancy and setting up virtual private marketplaces.

Various eProcurement-related concerns have been adequately addresses by this portal, while optimizing costs. 01markets' eProcurement solution offers its services across multiple industry segments.

In line with its focus, some of the categories where 01markets has conducted reverse auctions are steel, paints, lubricants, sugar, freight, IT products and stationery.

Speaking on the anniversary, Mythily Ramesh, Head, 01markets said, "Our market making services provides us with a USP that no vendor in the similar space can match. We believe that this is one of the contributing reasons, why we have emerged as a strong entity in this space. Our eProcurement solutions have become popular because it results in lowering total cost and crashing transaction cycle time, both of which are sought after in business today. We provide customers with the guarantee that they are dealing with an organization that they can trust."