The Long Transaction



Any transaction, be it online business-to-business commerce, a commodity futures trade, or trip to the local grocery store, spans the length of "The Long Transaction" — the end-to-end process that includes all steps of buying or selling goods or services. These steps include:



  • Content
  • Community
  • Collaboration
  • Decision Support


Here the decision is made of what to buy (or sell), how much to pay for it, and where to transact. Content such as product information, news, weather, and pricing history helps inform the buyer. A community of other buyers, sellers, and market-makers to discuss and react to different market choices and conditions provides additional insight. Collaboration between members helps develop customized solutions. Decision support tools help compare and contrast the pros and cons of different product or service options.



  • Bid/Ask Exchange
  • Forward/Reverse Auction
  • RFQ
  • Structured Negotiation
  • Catalog




At this point, TruExchange comes into play and supply meets demand. With our TruMarket™ exchange engine, buyers and sellers can engage in price discovery to verify the current level of the market, quickly identify counterparties, negotiate price and other order properties, and buy or sell in the most powerful real-time transaction framework available. TruMarket's powerful bid/ask exchange engine creates efficient and liquid markets in commodity and near-commodity goods or services. Our forward and reverse auction and RFQ capabilities allow for customized seller- or buyer-centric pricing. Our structured negotiation functionality allows trading partners to construct the perfect deal online and when simplicity is all a deal requires, a multi-vendor catalog solution is available.



  • Payment
  • Credit
  • Clearing
  • Fulfillment
  • Post-sale support
  • Returns & Exchange

Once counterparties have been determined and prices have been agreed upon, the goods and payment must get from one party to the other. The post-transaction encompasses all elements of the payment, credit, clearing, and fulfillment processes. The post-transaction stage also includes post-sale customer support, returns, exchanges, and other quality of service issues. Once the goods and payment have reached their final destinations, the Long Transaction is complete.

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