GE Global Exchange Services Launches Easy-To-Adopt B2B E-Commerce Solutions in Asia GXS Sees B2B Solutions Helping Business in Asia to Drive Profitability and Stay Competitive HONG KONG, May 10 /PRNewswire Asia-AsiaNet/ -- GE Global eXchange Services (GXS) a leader in business-to-business Internet commerce and a part of the General Electric Company, today announced the commercial availability of two easy-to-adopt B2B e-commerce solutions in Asia. The two easy-to-adopt solutions introduced in Asia Pacific this week are Electronic Buying Solution and Electronic Selling Solution. Electronic Buying Solution, an e-procurement package, is designed to streamline business process, reduce sourcing and procurement costs. Purchasing managers in Asia can now easily monitor competitive pricing and reduce the amount of papers associated with sourcing, ordering and delivery. Electronic Selling Solution is designed to help business increase sales through new sales channels, enhance channel management and communications within the trading community of the seller, distributors and customers. These e-commerce solutions, designed to help businesses drive profitability through the supply chain, were introduced during the GXS first solution forum, e-Business Executive Forum, held across the region this week. The solutions forum and the availability of these solutions in Asia Pacific signal GXS' leadership into this region this year. GXS, with more than 30 years of business-to-business experience, manages one of the world's largest B2B e-commerce networks. It currently serves more than 100,000 trading partners and handles a billion transactions a year -- which account for US$1 trillion in goods and services. Ignatius Wei, GXS vice president for Asia Pacific, said, "Last year, the markets were marked by a plethora of complex B2B e-commerce products that promised quick fixes but failed to help business. There was too much hype on e-commerce and little success as companies found it difficult to move into B2B e-commerce." "GXS is taking a key role in facilitating e-business in today's recovering economy using proven technologies and effectively integrating these with established systems. Our proven success in helping companies sustain their bottom line and reach out to new markets would be attractive to business in Asia. It's timely as the Asian economies are just beginning to understand the full potential of managing their supply chains via the Internet. In spite of economic concerns, our customers in Asia are increasing their online purchases and selling of indirect goods and services. These are indicative of how companies make the initial and early moves into the world of e-commerce," Wei added. A recent study on B2B by industry analyst, IDC, indicated that spending for e-procurement this year will more than double from 2000 -- and spending on e-procurement solutions account for almost 40 percent of total B2B spending in 2001. About GE Global eXchange Services GE Global eXchange Services (GXS) operates one of the largest B2B e-commerce networks in the world, with more than 100,000 trading partners. The network's 1 billion annual transactions account for US$1 trillion in goods and services. With a presence in 59 countries, GXS applies Six Sigma quality processes to provide e-commerce solutions that help businesses around the globe remove costs from their supply chains. GE Global eXchange Services is a part of the General Electric Company, U.S.A., and is headquartered in Maryland (US). For more information visit http://www.gegxs.com SOURCE GE Global eXchange Services CONTACT: Grace Ng of GE Global eXchange, +852-2884-6035, or [email protected], or Daisy Leung of Ogilvy Public Relations, +852-2884-8546, or [email protected], for GE Global exchange Web Site: http://www.gegxs.com