New web site launch facilitates international buying and selling of non-standard and bespoke engineering components

Single portal for e-procurement from First Index opens door to one source of integrated services in the UK, Germany and the USA

Single portal for e-procurement from First Index opens door to one source of integrated services in the UK, Germany and the USA

June 2001

Basingstoke, Hampshire UK - A new web site launched on June 1, 2001 by procurement specialist First Index will serve as a single, easily entered electronic gateway to the full range of the companys services for buying and selling non-standard or bespoke components for the engineering industry. Besides offering an integrated portal, it provides a connection to the companys four major business centres in the UK, Germany and the USA (East and West Coast).

The new web site (www.firstindex.co.uk) will provide swift access to the latest version of First Indexs top-line sourcing service, 'findFAST Online 2.0, launched in March this year. Hosted by the company, the database linked to findFAST Online 2.0 contains information on more than 40,000 suppliers in this country and abroad, together with details of their capability to make or supply non-standard and custom manufactured components.
more/-

Finding standard or commodity parts via the internet is now relatively easy, but when something that is not readily available must be found or needs to be specially made, then people like design engineers, buyers and suppliers, in companies large and small, need a different kind of service," said Hans Wigart, a founder and the chief executive officer (CEO) of First Index.

This issue is crucial because it represents a recurring and often major demand on time and resources. The new web site portal from First Index provides a fast and easily navigated path to a cost-effective solution," he said.

Of the many services available via the new First Index web site, other important sources of information include details of current contracts and live requests for quote (RFQ) opportunities.

In addition, besides the First Index directory of suppliers, the PROfiles feature enables a buyer to build a personalised record of information on supplier companies by creating his or her own database within 'findFAST Online 2.0. Records can be updated by the buyer to make a note of new details about the process capability and any additional information provided by the supplier. The personalised feature means that time is saved when using the service again because there is no duplication of previous steps.

Note to editors
Other First Index services that may be accessed through the companys new portal, www.firstindex.co.uk, include:

·   Information about First Index and its products and services.
·   Online news coverage extracted from 'Manufacturing Times, the companys publication covering manufacturing industry.
·   'Hot links to many supplier sites and organisations of value to engineers, suppliers and buyers.
·   A calendar of events including exhibitions, conferences and seminars.

Pictures
A picture of the new First Index web site and of Hans Wigart is available from Pattison Mitchell & Associates.

About First Index
First Index Ltd., is part of the First Index Group, a fast-growing British company with offices and representation in the USA, Scandinavia and Europe. Co-founded in the UK by Swedish-born entrepreneur Hans Wigart in 1992 and located in Basingstoke, Hampshire UK, First Index launched a paper-based directory service that buyers use free of charge and suppliers subscribe to.

Based on this existing service, the internet version, 'findFAST Online, was launched in July 2000. Within six months it had attracted more than 2000 suppliers whom subscribed to the new service and was regularly used by over 7000 buyers. During this time in excess of 14000 RFQs -- collectively worth more than $5bn -- were being processed with a marked increase over the last quarter.

A pioneer in a specialised market, the companys service enables buyers in a range of manufacturing industries to find -- faster than other methods - appropriate suppliers of vital non-standard parts and assemblies. In turn, suppliers can find suitable customers for their products and services. Both parties benefit by using a service that is dedicated to and designed specifically to address their special requirements.

First Index is a highly profitable enterprise and to expand the business further, the company recently received funding of nearly $11m from a consortium of prominent venture capital firms in the USA and UK.

ENDS