TradeComet.com LLC Announces First Global Business-to-Business Sourcing Engine Based on Global Standard UNSPSC to More Easily Connect Buyers with Suppliers

TradeComet.com launches its new global online sourcing site SourceTool.com which links professional buyers with qualified business suppliers around the world using the UNSPSC standard-based multilingual taxonomy.

Chicago (PRWEB) December 7, 2005 -- TradeComet.com, announces the launch of its new global online sourcing site SourceTool (www.sourcetool.com) which links professional buyers with qualified business suppliers around the world. Developed exclusively for the business-to-business market, Sourcetool indexes and organizes nearly 500,000 business suppliers around the world according to UNSPSC®, a product classification system developed by the United Nations Development Program (UNDP) and managed by GS1 US. The UNSPSC® (United Nations Standard Products and Services Code) classification system uses a hierarchical structure that organizes commodity product types according to business segments, families, and classes.

“What we like about UNSPSC® is that it is an actively managed classification system in the public domain that is used by the major supply chain software systems,” explained Dan Savage, CEO of TradeComet.com. “Companies looking to do business with Fortune 500 firms and governmental authorities will find that they will need to organize their catalogs and inventory systems around UNSPSC. “

SourceTool.com aims to simplify the online market with structured searches that quickly match purchasers with appropriate suppliers using the only global, multilingual standards-based taxonomy. “While other sourcing sites rely on their own unique product and company classification systems, each system is unique to a specific site which means that companies are forced to go to the trouble of translating their capabilities and catalogs into multiple systems. Moreover, if the company plans to do business in multiple languages, few systems have multilingual capabilities.”

SourceTool currently lists approximately 500,000 companies. Listings are free of charge and any business that sells to other business may include its website url by visiting the http://www.sourcetool.com home page and entering its url. Sourcetool’s search spider visits the urls of listed companies and gathers information that is processed and returned on its search results page. Companies are also asked to create a special text file to post on their websites which will allow them to include UNSPSC® product categories for each page in its website.

“We are very pleased that SourceTool recognizes the value of UNSPSC classification for global sourcing” said Stephen Arens, Senior Director,GS1.US, which manages UNSPSC® for UNDP. “Their plans for adding hundreds of thousands more companies to their directory combined with their UNSPSC® automation software makes this a very exciting opportunity for the UNSPSC user community."

SourceTool currently is developing free software tools that will automate the product classification process so that companies can work from an existing list of product names and obtain the UNSPSC classification as a result. It expects to make the tool available in 2006.

SourceTool lists relevant companies by overall importance for each search query term entered. SourceTool does not allow companies to influence the ranking results through advertising or any other paid programs, although SourceTool does display clearly labeled Google ads on its results pages.

Savage said that the ability to show “pure”, non commercial results provides a high degree of freedom to make the buyer’s work more efficient. “We’re all about giving the buyers the exact results they are looking for as quickly as possible. Through high degrees of automation, the Worldwide Web allows us to perform this service at a trivial cost so we afford to operate in the least commercially-biased manner possible.”

About TradeComet.com

TradeComet.com LLC, is based in New York, NY and is the parent company of SourceTool.com, (www.SourceTool.com ). Formed in September, 2005, TradeComet.com seeks to be the leader in the global sourcing marketplace employing Internet-based technologies to improve the efficiency and effectiveness of the supplier discover process.

About UNSPSC

The United Nations Standard Products and Services Codeâ

(UNSPSCâ), managed by GS1 USä, is an open standard for efficient, accurate classification of products and services. Visit www.unspsc.org or www.gs1us.org for more information.

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