Chase, TradeOut.com Start E-Marketplace
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The alliance gives businesses access to an outlet where they can dispose of excess inventory and assets. Chase, through its newly formed business unit Chase.com, is focused on creating Net-based business models.
The co-branded service promoted through Chase's CMB marketing network leverages Chase's traditional role as a financial advisor to provide additional services to the bank's business clients. Buyers and sellers benefit from the TradeOut.com marketplace. Sellers reduce excess inventory and improve cash flow; buyers gain faster access to inventory and supplies, often at a lower cost than through traditional methods.
Chase is trying to develop a business-to-business portal that, in addition to auctions, will provide access to a full business services, including the purchase of office supplies, logistics, recruiting and other services geared to small-to-mid-sized companies. Chase has previously announced an arrangement with Intelisys Electronic Commerce Inc. to develop an online purchasing community.