NEW DELHI: Since 1997, FreeMarkets (NASDAQ: FMKT) has helped companies across the Asia Pacific region source contracts for a wide range of goods and services, and identify savings in excess of $375 million. "Asian companies have always been leaders in technology innovation," said Daryl Rolley, vice-president and managing director of FreeMarkets Asia. "And as sourcing has become a more strategic and global activity, they are aggressively adopting and implementing technologies and services that can help them achieve and sustain improved financial and operational performance, " he added further. Talking on the performance of the company in India, Amit Bhatia, country manager, FreeMarkets India, said, "In India, FreeMarkets over the last 2 years has successfully implemented sourcing solutions for large Indian companies and has successfully completed over $500 million ( 2,500 crores) in market volume, resulting in savings of over $50 million." He further added, "As the market leader in the enterprise sourcing space, FreeMarkets is committed to listening to customers, identifying the sourcing challenges they face, and developing industry-leading solutions that solve these challenges and prepare them for the next generation of sourcing." FreeMarkets has been providing software and services that facilitate the design and execution of effective enterprise sourcing programs to companies throughout Asia since 1997. And an increasing number of organizations are leveraging these solutions to generate real, measurable results that benefit their operations. "As the leading global provider of enterprise sourcing solutions, FreeMarkets will continue to deliver industry-leading offerings that help companies across Asia achieve their most strategic goals," Rolley added. Designed by sourcing professionals for sourcing professionals, FreeMarkets' solutions support the entire sourcing process, from spend visibility and supply base rationalization to competitive negotiations and savings implementation. A unique combination of industry-leading software, expert sourcing services, global commodity expertise, and operations support, these solutions help companies achieve and sustain improved financial and operational performance. Among the companies in Asia that are currently leveraging FreeMarkets solutions as part of their strategic sourcing initiatives: Tata Engineering and Locomotive Co., Reliance Industries, Carrier Aircon, BP, CLP Power Hong Kong Ltd., Nestle Thailand, Singapore Technologies Engineering, etc. FreeMarkets serves customers in the Asia Pacific through regional headquarters in Singapore, and locations in Hong Kong, Melbourne, New Delhi, Mumbai Taipei, and Tokyo.