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Shopping for Small Business Needs
JP Morgan Chase has launched a virtual office shopping center for small- to medium-sized businesses where the businesses can comparison shop, save money on special offers on products like office supplies, and receive reports on their purchasing activity 24 hours a day.
BPurchase, as the service is called, is free of charge to businesses that use it, and includes a keyword search for business products by type of product or by vendor. The site also offers savings of 5 to 40 percent on many of the products and allows companies to set up individual employee accounts. An automated record keeping system lets businesses track their purchases.
In announcing the service, JP Morgan Chase said the bank is targeting small- to mid-sized businesses because they have already embraced the Internet. The bank said 68 percent of U.S. small businesses are already buying some office supplies, IT hardware and software, publications, and other products and services online.
Copyright © 2001 Bankers' Hotline. Originally appeared in Bankers' Hotline, Vol. 11, No. 4, 4/01
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