Hidexe – a real-time marketplace for hide & leather

Worldwide
Published:  13 January, 2021

One month after Hidexe’s beta launch and announcement on ILM, we would like to provide answers to some of the most frequently asked questions by the early adopters:

What is Hidexe?

Hidexe SA is a Luxembourg-based start-up that develops cloud-based software applications accessible from any desktop or mobile device that power global real-time marketplace(s) for hide & leather.

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What are the key benefits of using Hidexe?

The Hidexe software allows hide & leather suppliers to cost-efficiently launch proprietary global and/or private e-auctions, while simultaneously providing market off-takers with powerful sourcing and procurement tools. These software tools allow its users not only to quickly acquire commodity products, but also to do so with confidence and in a very transparent manner. Our on-demand software-as-a-service (SaaS) suite is available 24/7. It provides its licensed users with a global reach and allows users to accelerate and streamline complex, paper-heavy and repetitive procurement and logistics-related processes without any need for specialised training or equipment.

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How does it work?

1. Hide & leather professionals register on Hidexe.com, and once they create their user profiles and agree to the terms of use, they immediately gain access to a number of free SaaS platform tools accessible from a simple user dashboard.
2. Suppliers can quickly create product descriptions by using intuitive, pre-defined Hidexe templates that are based on standard industry definitions.
3. As soon as a product is uploaded to a seller’s dashboard, he/she can launch related auctions with only a few clicks by selecting this product from a portfolio list, defining its starting price (and/or a ‘buy now price’), lot size (number of containers/truckloads), availability period, maximum auction duration, and paying a transparent on-demand volumetric (calculated on a per container or truckload basis) software license fee. Our on-demand model allows customers to consume our services anywhere and anytime, as soon as the need arises. Our ‘pay-per-use’ formula benefits our users, as software fee payments are based on the actual usage, which means that they can avoid large, fixed costs.
4. Depending on user preferences, auctions can be launched in a ‘public’ or ‘private’ format.
5. The process of procuring products with Hidexe SaaS works exactly in the same manner, and the pricing plan is also on-demand (pay-per-use) and volumetric (calculated on a per container or truckload basis).
6. Our software runs powerful matching algorithms that ensure that the highest bidders always win, and subsequently provides the seller and the buyer with automated ICHSLTA contract documentation and fulfilment monitoring functions.
7. We also offer a real-time counterparty chat and email notification tools to improve market communications that help to accelerate the procurement cycle.

What is the difference between a ’private’ and a ’public’ auction?

A ‘private auction’ is only visible to the users invited by a seller via the Hidexe notification center. ‘Public auctions’ have a global reach and are visible to all Hidexe users, who can access full auction details and place formal bids freely.

When is an auction considered finished?

All auctions are automatically closed when the user-specified auction duration period expires, at which point the highest bid is declared as the formal winner. The auction can terminate early if a buyer places a bid that is equal to or in excess of the ‘buy now’ price.

What happens after the auction?

1. Users are given an option to complete their transaction using the system-generated pre-filled ICHSLTA international contract No. 6 - Hides & Skins. The counterparties only need to fill-in their respective internal tracking numbers, freight costs and other transportation details, agree payment terms and can even sign the contract electronically.

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2. Hidexe is not a party to these bilateral contracts and related arrangements. However, Hidexe SaaS provides all the necessary tools to monitor all your transaction steps (invoices, shipping documents, etc.) and gives access to a very cost-efficient, cloud-based platform to store and exchange documents.

3. Once the goods arrive at their destination and the funds are received, both parties can evaluate each other’s performance under the contract using star ratings.