November 19, 2020
New Feature Alert: Private Marketplaces on the Requis Platform
Requis is proud to announce our latest platform upgrade: private marketplaces.
Private marketplaces allow your organization to open up the visibility of selected assets with other companies that you invite into the group. Your team can sell unused assets directly to other organizations without having to go through a broker, and enjoy significant cost avoidance.
The private marketplace functionality brings the total number of marketplace types up to three:
- Internal marketplaces. Host your internal asset records on one platform and gain better visibility into what assets you’re using, and which ones are surplus. Move non-utilized inventory to other branches of your global operation, or sell it to reduce warehousing costs and TCO.
- Private marketplaces. Allow other organizations to view some or all of your assets.
- The open marketplace. Offer surplus inventory for sale or auction to our global marketplace.
Easily and efficiently tie your inventory into a more comprehensive asset life cycle management process.
Put the Circular Economy to Work for You
According to Forbes, the Global 2000 owned $189T in assets as of 2018. If they sold just 2% of those assets, they could generate $3T in free cash. This, in turn, could help reduce their $12T annual procurement spend.
By our estimates 2% is a very conservative estimate of the amount of surplus held by the Global 2000. From our detailed discussions with clients in the energy industry (and our tours of warehouses and storage yards) that number is probably much higher.
Learn More About the Numbers for the Oil and Gas Industry >
We’re Always Improving the Requis Platform
Our product development team is constantly expanding and improving the Requis platform in response to user feedback and in alignment with our long-term strategic design. Our team of eight developers (and growing) is busy every day making the Requis platform a better place to do business.