French financial services group BNP Paribas has selected technology from US-based Perfect Commerce to streamline its procurement processes.
Perfect Commerce says firms can deploy its technology to electronically connect and transact with suppliers - at a fraction of the cost of point-to-point connections.
The vendor will provide BNP Paribas with content and connectivity services via its Open Supplier Network, which provides access to thousands of connected suppliers and maintains over 21 million catalogue items.
Arnaud Neven, process director, global procurement group, BNP Paribas, says: "The Perfect Commerce solution lowers transaction costs and significantly reduces the upfront effort needed to enable suppliers."
"Having a single-source supplier enablement solution solves a key pain point for us in connectivity and catalogue management," adds Neven.
Sandy Kemper, chairman and CEO of Perfect Commerce, comments: "With the increasing complexity and globalisation of supply chain management, clients are looking for a single company to help them identify and implement new efficiencies."
Additionally, Kansas-based Perfect Commerce says it has opened a Paris office to support its growing focus on European customers.
As well as supporting BNP Paribas, the new office - which will be headed by managing director, Martial Gerardin - will be responsible for growing the company's operations in Europe.
Kemper says the contract with BNP Paribas is "a powerful endorsement of our capabilities to serve the European market".