This investment marks one more step in Seagram’s drive to surface, evaluate and develop eBusiness initiatives that offer significant potential, and provides an opportunity to participate in what will be the world’s largest internet exchange.
B2B has been highlighted as a priority for Seagram’s spirits and wine operation and the investment in Transora will bring added momentum to the task of streamlining business transactions with suppliers, buyers and distributors via the Internet. As an industry-owned and operated global trading network, Transora is the first and largest company of its kind. Services will span the entire supply chain, providing procurement, vendor and product catalogues, online order management, supply chain collaboration and financial services.
Seagram joins fifty of the world’s best-known companies including, The Coca-Cola Company, Anheuser-Busch, Heineken, Pepsi, Diageo PLC, Kraft Foods, Inc., The Proctor & Gamble Company, and Unilever NV, who between them represent nearly half of the global consumer product industry. These members, providing the infrastructure and start-up fund for Transora, have invested over $250 million. Transora is currently engaged in pilot transactions and will launch its first internet procurement exchange offering towards the end of the year.
We have made an investment in Transora as part of our drive to gain competitive advantage in the B2B forum and influence developments in this area, comments The Seagram Spirits And Wine Group eBusiness Officer, Tony Rodriguez. Not only will we benefit from our ability to help mould the business plan and impact the e-marketplace space, but we can capitalize on the various opportunities for operational savings. We will also seek to integrate some of our other e-ventures with Transora in order to leverage its global customer base and technology.
Andy Harman, Chief Officer, Global Customer Development, The Seagram Spirits And Wine Group, comments, The internet is transforming the way business will be done. Transora allows the Seagram Spirits and Wine Group and its fellow investors to leverage the power of this new technology to offer customers improved service and greater efficiency. It demonstrates our commitment to using the new economy business elements and generate greater value for our customers, distributors, suppliers, consumers and shareholders.
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