Portum

Portum is Europe’s leading e-sourcing solution and services provider. It is a neutral B2B intermediary and provider of strategic sourcing and negotiation solutions. Its RFX (Request for information/quotation/ proposal) engine and reverse auction system allow suppliers to bid for business and ensures that buyers get the best price on each purchase. Clients include BASF, Bayer, Nestle and Motorola. Portum also provides solutions for e-marketplaces including cc-Chemplorer.

By purchasing online, companies can increase the transparency of the procurement process whilst significantly saving both time and money to ensure they get the best deal on each purchase. Since the first auction in February 2000, Portum has moved a trade volume of over (1.3 billion (£800 million) in 1,200 auctions and RFXs. 110 companies that have used Portum tools were able to achieve average cost cuts of around 13% in their procurement processes.

The company was founded in 1999 with backing from 3i. The company has partnerships with Accenture, Kompass and Seal. It’s headquartered in Frankfurt with further subsidiaries in London, Paris, San Francisco and Madrid, and employs 80 people across Europe.

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