E-commerce matchmaker for software buyers, sellers

A new site has launched aiming to bring together corporations looking for a simplified software purchasing process solution, and midsize vendors looking to participate in more bids.

ITsquare acts as an electronic marketplace where clients can fill out an RFP form, receive tips from an ITsquare advisor on that process. They post their request -- say for a portal -- and outline their requirements electronically. ITsquare analyzes the request and pitches it to appropriate vendors (from a current pool of about 275) who then bid electronically in either open or closed bidding based on the clients choice, with the opportunity to ask questions via E-mail. Clients can be alerted by ITsquare as bids and questions come in, or only at set times when requests have filled in.

While the virtual marketplace is at no charge upfront to the client company or the vendor, ITsquare takes a percentage (between 5% and 10%) on the winning bid.

The idea, according to ITsquare, is to get small to midsize vendors out in front of potential customers without massive marketing spending up front (save vendors marketing dollars), reduce project manager overhead on the client side (save time and money) and make the process of software outsourcing go smoother.

The inability to easily get the clients and vendors together is something ITsquare has seen as a crisis -- "one that ITsquare.com addresses by providing efficient access to local and global development resources," said Harvi Sachar, the company's CEO.

Time will tell if the market is ready; ITsquare is currently in the bid process with its first client listing