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Using Oracle Exchange Marketplace Technology, TODO1 Launches Pioneering Digital Marketplace in Northern Latin AmericaMercado Digital to enable e-commerce and to optimize trading transactions between registered companies; Four of the leading financial institutions in the Andean region created and are backing TODO1MIAMI, Nov. 9 / -- Oracle Corp (Nasdaq: ORCL - news), the world's largest enterprise software provider, announced today that it will provide its Exchange technology to create TODO1 Mercado Digital, a site where registered companies will be able to buy goods and services efficiently and at favorable prices. In addition, these companies will receive bank credit services.Created and backed by Venezuela's Banco Mercantil, Colombia's Bancolombia and Conavi, and Ecuador's Banco del Pichincha -- all of them financial organizations with a well-known track record and rich experience in the region, TODO1 is also supported by J.P. Morgan & Co. Inc. and McKinsey & Co, which will participate as shareholders and advisors to create, invest and develop the strategy of the new digital market. One of TODO1's key objectives is to provide an easy-to-use tool promoting B2B e-commerce and enabling any company to optimize its business relations and trading processes. In essence, the advantage is being able to perform trading transactions based on catalogs and conventional contracts, as well as on auctions and quote requests -- all through Oracle's Exchange technology, the most advanced for e-commerce. ``This initiative is key in our mission to provide integrated technology services to reduce costs and improve the efficiency of business transactions, as well as to drive the integration of trading, logistics, billing and payment processes between companies and their providers. Also based on Oracle's technology -- the leading e-business software and services provider -- and in a totally secure and standardized environment, we will help modernize the market in the countries of the region,'' said TODO1 CEO and President Fernando Ortega. Oracle was chosen over other solution providers because it has the experience and the most comprehensive, simple and friendly collaborative platform, as well as a solid vision of the development of e-business. Oracle is the only company providing the needed products and services to create, execute, support and maintain a global or regional e-commerce site. ``For Oracle it is very important to be a part of this project because we are sure that TODO1 is a groundbreaking e-commerce initiative across northern Latin America. As an industry leader, we are pleased to participate in projects with such growth potential,'' said Eric Brenner, Vice President of eBusiness Applications, Oracle Latin America. About TODO1 For more information, visit http://www.todo1.com About Oracle For more information, visit http://www.oracle.com OracleMobile 415/401-4000 jmorgan@tenthdimension.com top of page |
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