Portum to power Trade Ranger

Online marketplace Trade Ranger is to offer auction-based procurement using technology from Portum.

Trade-Ranger, which claims to be world’s largest online marketplace for goods and services traded in the oil and petrochemical industries, is to offer ‘strategic sourcing’ through Frankfurt-based Portum, a provider of e-sourcing solutions.

Online auctions

Under the terms of the contract, Portum will be the exclusive provider of online auctions to Trade-Ranger. Trade-Ranger members will be able to arrange ‘do-it-yourself’ auctions using the Portum technology.


Portum will also provides RFX (Request For Quotation/Proposal/Information) technology and professional services directly to Trade-Ranger members. These solutions will be tailored to members’ specific requirements to ensure proper support and implementation.


Portum CEO Gerald Heydenreich said ‘The sector has embraced the concept of e-procurement and e-sourcing. Cooperation with an established marketplace of this size shows how strategic partnerships can enhance the value proposition to members and deliver true bottom-line benefits.”


Trade-Ranger CEO Claire Farley added “This is a challenging proposition but one we're confident that Portum can handle. Working together, we can help the industry make valuable and efficient use of online sourcing tools.” Procurement allocation by Trade-Ranger’s 20 buyer members represents more than 25 percent of annual global spend in the energy and
petrochemical industries.

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