New York, NY (PRWEB) September 28, 2005
Smiling from ear to ear, MBE President Steve Bolles today announced with pride that his proprietary ÂIntertradeÂ global barter software successfully completed phase two of Beta testing conducted by Strategic Resource Group. The ground-breaking software that incorporates artificial intelligence and integrates 18 languages and 12 currencies would allow international barter that would be more than 90% automated has been under development for the last two years. When utilized, the Intertrade software would allow businesses around the world to increase their cash-flow and unload their unsold inventories with a few mouse clicks. The complex software would automatically match multiple trading partners, calculate currency differentials, and plug in the appropriate trade tariffs and duties, generate shipping manifests and customs documentation and even select shippers and freight forwarders based on time and rate variables entered by the client Â typically a Fortune 500 company.
ÂThis is a great day for MBE,Â beamed Bolles who went on to predict, ÂBy this time next year, Intertrade will be the weapon of choice for the worldÂs barter industry that is currently plagued with overwhelming and tedious processing that has to be done manually.Â Currently a single international barter deal can easily consume 20-40 specialized and expensive man hours. Bolles claims his software will transform this burden into a painless automated process that will take less than ten minutes of simple data entry and produce the most cost-efficient barter route. It is anticipated that the new software will generate an estimated $4 million of international barter daily and introduce hundreds of small and big companies alike into the international barter arena every month.
Veteran traders of the barter industry like NABA analyst Walter Pollock seem optimistic of the impact this software can have on the industry as he remarked, ÂPersonally, I believe the first one out with automated international barter software will capture the Fortune 500 market segment which is worth billions Â even if the barter fees are only 3%-5%.Â
Apparently others have also taken note of this software as Bolles has recently declined two offers from underwriters to go public on NASDAQ. ÂFrom the onset, this has been a family run business, and I see no reason to tinker with our successÂ MBE which incorporated in 2000, now boasts a supply network of over 18,000 merchants that offer over 10,000 goods and services nation-wide. MBE also holds the distinction of being the only pure-barter (no cash) national exchange with twelve locations across America and offices in Toronto & Mexico City to accommodate the exploding international market. Two months ago, MBE embarked on a national licensing campaign and Bolles says his goal is to have operations up and running in 36 major markets by the end of the year. ÂBy this time next year, I hope to have operations established in London and Hong Kong as wellÂ. The energetic Bolles is a former Marine whose wife nagged and pestered him into starting their own business back in 1998 while he worked as a mortgage broker. ÂI clearly have no regrets,Â chuckled Bolles. According to various barter associations like NABA, and ITEX, the barter business in the U.S. exceeded $20 Billion last year. The third and final phase of Beta testing for Intertrade starts November 1st and is expected to conclude by yearÂs end.
Authorized for immediate release by:
Henry Romano, Agent for
Merchants Barter Exchange
55 Madison Avenue
Morristown, NJ 07960
Merchants Barter Exchange Inc.
300 Park Avenue, 17th Floor, New York, N.Y. 10022 USA
Tel: (212) 572-6316 Fax: (212) 820-9746