ITC, INFOBANK STRIKE DEAL FOR E-COMMERCE 

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By BY OUR SPECIAL CORRESPONDENT in Calcutta
  • Published 9.02.00
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Calcutta, Feb 9 :     Tobacco to hotels major ITC Ltd is all set to provide e-commerce solutions to domestic corporates. ITC Infotech, a wholly owned subsidiary of the group, has signed up with UK-based Infobank, an e-commerce solutions provider with market capitalisation of over £ 740 million. Under the agreement announced in London today, the two companies will work with ITC's Information Systems Division to provide B-2-B (business to business) solutions using the InTrade e-Hub. Sanjay Verma, chief executive of ITCs Information Systems Division said: "With ITC developing world class offshore facilities, the company is uniquely positioned to address the e-commerce requirements of its customers globally. "Infobank is one of the fastest growing solution providers in e-commerce and this collaboration will bring in really world class services to India,'' Verma said. Graham Sadd, Infobank CEO said: "ITC is a major player in India and through this agreement they have demonstrated their strong position in the Indian business to business e-commerce market." An ITC release said ITC Infotech and Infobank will jointly offer to third parties an off-the-shelf multinational community infrastructure with hosted InTrade e-Hub trading community software, hardware, technical support and maintenance and integration services. This will save the third party the trouble of having to source technical skills and requirements from a large range of suppliers by enabling them to establish business-to-business trading communities on a fast track. ITC Infotech and Infobank will also collaborate on future development of an entire array of Intrade business to business e-commerce software. The two companies will become an Intrade channel partner enabling ITC to strategically market Infobank's premium software products-InTrade Purchaser, InTrade Supplier and InTrade e-Hub, in the Indian subcontinent. Intrade e-hub is Infobank's trading community software. It enables organisations to create customised on-line (trading) communities of buyers and suppliers by focusing on inter-business transactions. This helps participating organisations to dramatically reduce the costs of purchasing and supply and removes the problem of developing and managing their internal electronic purchasing and supply solutions. The added advantage is that the product offers the facility of trading in 50 languages and currencies from a single hub.