Bangalore: "01markets", the digital market place launched by Wipro Infotech has notched up transactions of Rs 550 million in the first six months of launching, Head of "01markets" Mythily Ramesh said on Wednesday.

"With the economic slowdown, more organisations are looking towards cost take-outs. This is where we come in with reverse auctions and e-procurement. We are confident that we can get customers, substantial cost take-outs on their procurement for both IT and non-IT," Ramesh told reporters.

Outlining the plans for the coming year, she said to start with "01markets" plans to focus on the MRO purchasing of organisations and then move on to industries such as telecom, infrastructure and automobiles. "01markets" will also offer customers, e- procurement services like virtual private marketplaces through which the customer will save procurement and transaction costs and reduce cycle time of purchases.

UNI

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