World Procurement International, Inc. (WPI, Inc.)
WPI: an e-procurement firm; unique business model- vendor commissions- no end-user license fees. $0.5 mil. in revenue from 1st customer. .
WPI offers hybrid e-Procurement & e-Sourcing SaaS services for these verticals: Education, Hospitals, and Local/State Government. 26+ man-years & $4 MM in cash has been invested in software development. Product has been proven over 5 years at a major city school district where it has generated average annual revenue of $450K. WPI's business model is unique-- it is very low cost for end-users. 20K vendors generate processing fee revenue.