18 October 2017

IBM, BofA and Citi launch site for small suppliers

20 September 2010  |  6137 views  |  0 Hands on keyboard

A consortium of US corporate giants, including IBM, Bank of America and Citi, have banded together to launch a Web site designed to make it easier for smaller firms to bid for their business.

The three, along with AT&T, Pfizer and UPS, have agreed to standardise and simplify the application process required to bid for the $150 billion in contracts the participants award every year.

The group says small companies currently have to overcome significant hurdles to applying for contracts with big business, which often requires significant investments of time, money and expertise.

IBM has put up a grant of over $10 million to build and maintain the free public Web site, called Supplier Connection, where participants can fill in a single, streamlined electronic application form for business with the big six. Other large firms are expected to join at a later date.

The site, slated to go live in the first quarter, will also help small suppliers learn from, collaborate with, and sell to each other, says IBM.

Ron Tate, SVP, supply chain management, Bank of America, says: "Supplier Connection couldn't have come at a better time. Given our recent pledge to spend $10 billion with small, medium and diverse businesses over the next five years, this tool will be key to our ability to identify those small businesses best positioned to do business with Bank of America."

Comments: (0)

Comment on this story (membership required)

Finextra news in your inbox

For Finextra's free daily newsletter, breaking news flashes and weekly jobs board: sign up now

Related stories

IBM to acquire OpenPages

IBM to acquire OpenPages

16 September 2010  |  7848 views  |  0 comments
IBM gets Citi thumbs up for new generation mainframe

IBM gets Citi thumbs up for new generation mainframe

22 July 2010  |  7836 views  |  0 comments
IBM to buy Bank of America mortgage servicing unit

IBM to buy Bank of America mortgage servicing unit

06 October 2009  |  8749 views  |  0 comments

Related company news


Related blogs

Create a blog about this story (membership required)
Register now visit www.capgemini.com

Top topics

Most viewed Most shared
Ripple looks to drive bank adoption with $300m XRP rebate programmeRipple looks to drive bank adoption with $...
15145 views comments | 12 tweets | 4 linkedin
Swift positive on blockchain, but big challenges remainSwift positive on blockchain, but big chal...
8358 views comments | 15 tweets | 21 linkedin
hands typing furiouslyHow artificial intelligence can deliver a...
7864 views 0 | 7 tweets | 9 linkedin
satelliteGates Foundation backs Ripple collaboratio...
7294 views comments | 13 tweets | 8 linkedin
IBM uses blockchain to improve cross-border payments processingIBM uses blockchain to improve cross-borde...
6441 views comments | 8 tweets | 16 linkedin

Featured job

circa £250K total package

Find your next job