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ProcurePort announces the launch of, a unique reverse auction marketplace that brings buyers and sellers together in the lumber industry

Indianapolis, IN (PRWEB) September 05, 2013

ProcurePort, a leading provider of On-Demand E-Sourcing software including reverse auction software and services, announces the launch of a unique marketplace for buying and selling lumber. is a marketplace powered by ProcurePort which brings buyers and sellers (lumber mills) together in the lumber industry. Buyers of lumber post their requirements on the marketplace in a reverse auction format, lumber mills bid on those requirements in real time. The real time bidding generates savings for the buyers, without the buyers having to negotiate pricing over the phone.

ProcurePort is embracing 2013 as a banner year thanks to the growing acceptance of E-Marketplaces as a way to bring buyers and sellers together in a dynamic environment. The new breed of marketplaces allow buyers to post their purchase requirements on the marketplace. Sellers, in turn, bid on those requirements in a reverse auction format.

ProcurePort has developed proprietary cloud hosted E-Marketplace software delivered as a SAAS solution. The software allows creation of a marketplace for a specific vertical (eg: Health care services, Telecom, Energy, Building Materials, Lumber, Legal Services etc.) instantaneously with minimal cost.

A typical online marketplace has the following key features:
-Buyer and seller self registration process
-Option to charge buyer and seller subscription fees
-Charge auction transaction fees
-Allow Buyer and Seller to post Reverse Auctions and Forward Auctions
-Ability for buyer and seller to conduct private invitation only auctions
-Integrated payment facility using credit cards as well as ACH

Because ProcurePort’s web-based E-Marketplace Software does not require expensive and time consuming setup or integration, many of ProcurePort’s customers realize an immediate return on their investment. “This on-demand model is much more affordable than other alternatives and allows startups to benefit from the same online procurement technology that was previously only available to large corporations,” explains Smith, a senior director at ProcurePort. The success of online E-Marketplaces in niche vertical’s is predicted to grow significantly over the next decade as Startups (such as and other organizations implement unique marketplaces to bring buyers and sellers together for a specific product or service category.

Founded in 2001, ProcurePort has expanded its service offering from discrete online auction tools to complete on demand sourcing solutions including providing sourcing and spend analysis services. ProcurePort added its online marketplace solution in 2008, which can be customized to launch E-Marketplaces in vertical specific "B to B" and "B to C" markets. Since the company’s formation, its operations have expanded from a single staff member to 84 technology and procurement professionals.

About ProcurePort
ProcurePort is a leader in providing on-demand e-sourcing software (Reverse auction software / Spend analysis software / E-Marketplace software) and services (Reverse auction services / Spend analysis services) for the Startup as well as Global 1000 organizations. Operating in a wide range of industries from manufacturing to government, ProcurePort’s clients benefit from both the technology and service expertise that can help them launch their electronic marketplace without time consuming or expensive technology deployment. ProcurePort’s affordability enables startup’s to compete with larger organizations and reach new levels of success in deploying an E-Marketplace in a specific vertical. For more information, visit or call 1.866.643.8153 (toll-free in North America).


NOTE TO MEDIA: To schedule an interview with a ProcurePort representative to discuss trends in e-sourcing, online procurement, e-marketplaces, reverse auctions or forward auctions, contact Jack Smith: jack(dot)smith(at)procureport(dot)com.

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