Welcome!

PowerBuilder Authors: Chris Pollach, Yeshim Deniz, Jayaram Krishnaswamy, Kevin Benedict, Avi Rosenthal

News Feed Item

US E-Commerce Pioneer, Mark Hoffman, to lead Oxygen Finance as Global CEO

LONDON, February 21, 2013 /PRNewswire/ --

Revolutionary B2B payments network, Oxygen Finance, has appointed former Sybase co-founder and Commerce One CEO, Mark Hoffman, as Global CEO.

Oxygen was founded to create the World's largest business-to-business payments network. Based on the transformational core principle that spend is an organisation's greatest untapped asset, Oxygen provides corporate and public sector organisations, who have substantial spend, the opportunity to deliver Early Payment to suppliers in return for a rebate. Working with world-class partners, this transforms procurement and accounts payable functions, traditionally viewed as cost centres, into income generators via the rebate.

The Oxygen Finance solution is winning where supply chain finance solutions have failed. Purchasing Cards have only achieved between 1% to 3% supplier adoption. However, early adopters of Oxygen have proved that supplier participation rates are in excess of 60%.

Mark Hoffman was formerly Founder, Chairman, President and Chief Executive Officer of ground breaking e-commerce company, Commerce One. Prior to this, Mr. Hoffman served as Co-Founder, President, Chief Executive Officer and Chairman of Sybase, which grew to become one of the largest software companies of the 90s.

Mark Hoffman commented;

"The leaders in any market of the future are those who grasp the fact that supplier relationships and networked participation create sustainable competitive advantage. Shareholder value is not established by just short-term cash gain from protracted payment. It is built through close working relationships and driving value through the supply chain."

Mr Hoffman added;

"Oxygen is the most exciting proposition I have seen in years because it grasps the fundamental principle that the buyer-supplier relationship not only creates sustained market leadership, but also a financial win-win for both parties. Interest in our approach to financial innovation is immense and I am pleased to be in London and focused on making Oxygen the world's largest B2B payments network."

Oxygen Founder and Director, David Brown, said;

"I had the privilege of working alongside Mark at Commerce One. His deep experience of building companies and placing them on a global stage is unparalleled and I am immensely proud that he has joined us as Global CEO."

For biographical details, visit http://www.oxygen-finance.com

Editor's Notes:

Oxygen was founded to create the World's largest business-to-business payments network. Based on the transformational core principle that spend is an organisation's greatest untapped asset, Oxygen provides corporate and public sector organisations, who have substantial spend, the opportunity to deliver Early Payment to suppliers in return for a rebate. This transforms procurement and accounts payable functions, traditionally viewed as cost centres, into income generators via the rebate.

Mark Hoffman was formerly Founder, Chairman, President and Chief Executive Officer of ground breaking e-commerce company, Commerce One. Prior to this,

Mr. Hoffman served as Co-Founder, President, Chief Executive Officer and Chairman of Sybase, which grew to become one of the largest software companies of the 90s.

http://www.oxygen-finance.com


More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.