Chemical Information Services has released the ChemInfo MarketPlace, a new addition to its slate of chemical sourcing tools. It is a web-based exchange service that is targeted to the buyers and sellers in the pharmaceutical, biotech and custom chemical manufacturing industries to help with their procurement and sales functions. Chemical Information Services partnered with Chemfinet Services, a web-based sourcing platform, to launch this new tool.

To use ChemInfo MarketPlace, buyers post RFQs (request for quotes) on the site for molecules they need, while sellers submit bids for the chemicals they make or provide. Buyers are able to find what they need quickly, saving time and search costs. Sellers have access to better opportunities and can save sales and marketing dollars in the process.

This was a smart idea by Chemical Information Services since it provides one more way in which customers can access its information. This could certainly help the company reach a new set of customers, while making that access even easier for current customers. In addition, the company has increased its value to customers by providing this venue that equally serves the needs of both buyers and sellers by helping both more effectively reach their target audiences. Chemical Information Services expects this solution to help buyers and sellers save time and money. If it can accomplish that, this will be a big winner for the company.