Social Networking Re-Imaged with the Ormita Commerce Network
The Ormita Commerce Network CE Daniel Evans launches a multilateral social barter network. Businesses use the system to generate new sales and offset their existing overheads.
- (1888PressRelease) March 30, 2014 - In 2012, the Ormita Commerce Network, an international barter exchange provider, launched the industry's first multilateral social barter network for small and medium sized businesses. For the second consecutive year since implementation, participants have seen incremental member growth and a continued network expansion.
Ormita members use the platform to sell their excess time, space, depreciating inventory or surplus stock. This new income is then used to pay for various expenses of the business. As the variety of members is large, businesses can purchase everything from advertising through to printing, airline tickets and even vehicles. The fact that there is no cash involvement means that any business can participate.
Because the network has a centralised trading platform, businesses are not limited to trading within their own geographical region.
Pricing and invoicing is the same as cash however as sales should be offset with purchases from other businesses in the network tax liabilities are limited.
"Saving cash by paying for things that a business needs, rather than taking money out of the bank, is the prime reason that people join the network," says Daniel Evans, Ormita's Chief Executive Officer.
Working with Ormita is easy, explains Ormita's Broker Manager, Gigi David,
1. Create an online account
2. List your offer
3. Search for goods and services you need
4. Connect to other businesses to negotiate a cashless sale or purchase
Another unique feature of the platform that differentiates it from other barter networks is that the system is fully transparent. Members can see who has most recently logged in, created a listing, added a want, searched for goods, or created trading connections.
Ormita's Daniel Evans says that the platform is a re-imagination of a social network with its own internal currency for spending between businesses. "Members can connect to registered users or invite others to trade with them through their existing social networks. This is particularly important because business owners want to trade with people they already know. If you compare this to cash or traditional barter networks, Ormita allows this to take place at a far lower cost."
The platform members to automatically invite their exiting contacts from AOL, Gmail, Linkedin, Facebook, MSN and other social platforms. The company claims that this has helped it achieve a critical mass of traders providing a wide variety of goods and services on offer. "This has enabled us to build a huge database of companies which are accessible via the Ormita Network," says Daniel Evans.
The Ormita service has no joining, monthly or annual fee. There is no fee to sell and only a 7% cash fee when spending earned revenues. As the company has its own dedicated trade brokers it also can also develop tailored media plans, run international trade missions and develop creative a range of creative trading solutions without needing cash.
About the Ormita Commerce Network
The Ormita Commerce Network specialises in developing non-cash marketing and business development strategies. Ormita brings new customers to a business, without affecting the existing cash sales already being generated by the company. This may result in more "word-of-mouth" referrals, an increased work-portfolio, more recommendations, improved organizational skills, higher visibility and more cash sales.
Participants will patronize other members businesses over the competition because the credits they have earned are spent within the "community" of members. Privately held and founded, Ormita has its headquarters in Hong Kong and offices in 23 countries.
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