OMNEXUS AND IQMS SOFTWARE TO PIONEER ERP 2 ERP E-COMMERCE INTEGRATION FOR THE PLASTICS INDUSTRY

14-Jun-2001

Omnexus, the global, neutral eMarketplace for the plastics industry (www.omnexus.com), has formed a strategic alliance with IQMS software, a leading enterprise resource planning software provider to the plastics industry. The two companies will offer the first of its kind ERP-to-ERP e-commerce connectivity solution that will allow plastics processors and buyers to realize the full benefits of seamless B2B e-commerce.

Beginning in the third quarter of 2001, the newly released technology will fully integrate into the Omnexus eMarketplace the hundreds of plastics processors in the United States and Europe who are currently using the IQMS EnterpriseIQ ERP system. These processors represent more than $1.5 billion in annual raw materials purchases.

The technology, co-developed by Omnexus and IQMS, significantly enhances the time and cost savings already being realized by Omnexus members. Currently, processors utilizing Omnexus may access the world's leading suppliers in one location, place orders with multiple suppliers simultaneously, submit reorders in an instant, all while retaining their current pricing, account numbers, and existing supplier sales representatives. With the release of the Omnexus/IQMS technology, order requirements are automatically transmitted to the appropriate suppliers, and suppliers' invoices electronically submitted directly into the buyer's ERP system, without human intervention; further time and cost savings are realized through supply chain automation.

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"Buy-side integration has been described as one of the most costly yet crucial elements in realizing full B2B savings and benefits," said Peter Dunning, CEO of Omnexus and former senior executive with SAP, the world's largest ERP provider. "Omnexus and IQMS have pioneered a new approach to integrate numerous processors and their suppliers economically and efficiently. The result is true back-end connectivity between multiple suppliers and buyers."

"Using Omnexus today is truly faster than the telephone or FAX if you deal with multiple suppliers," said David Jukes, senior vice-president of Omnexus. "This new technology will deliver even greater incremental savings and continue to build the value of Omnexus membership for both processors and suppliers. Unlike other Internet sites that sell only resin, and primarily one brand, integration to Omnexus provides ERP connectivity to more than 20 global suppliers - and that number is continually increasing."

By adding ERP-to-ERP connectivity to its EnterpriseIQ system, IQMS takes a leadership role in providing "collaborative commerce" capabilities, identified by Gartner Group as one of the key components of ERP e-business functionality. Though pioneered in the plastics industry, this technology approach can be applied across all repetitive manufacturing industries, according to Randy Flamm, president of IQMS Software.

"The winners in the new ERP and supply chain management market will be those who can deliver on promises to provide functional e-business capabilities to customers," said Flamm. "With this new technology and our partnership with Omnexus, we provide the missing link in manufacturers' supply chain management."

For plastics processors, ERP-to-ERP connectivity through a single integration hub provides significant economies.

"From the onset, Ticona saw the potential value Omnexus brings by serving as the integration hub for the plastics industry, said Kevin Cronin, global eBusiness director at Ticona, one of the founding suppliers of the Omnexus eMarketplace. "For us to have electronically integrated into the ERP systems of hundreds of companies individually would have cost us millions. The Omnexus-IQMS software alone could justify our original investment in Omnexus."

https://www.chemeurope.com/en/news/3509/omnexus-and-iqms-software-to-pioneer-erp-2-erp-e-commerce-integration-for-the-plastics-industry.html