Boundless Network Announces Patent on their Group Buy Technology
GroupBuy enables organizations to leverage their purchasing power for promotional products
AUSTIN, TX – Boundless Network (http://www.boundlessnetwork.com), today announced that a patent has been issued for their unique GroupBuy solution. The United States Patent and Trademark Office has issued Patent 8,065,192 relating to systems and methods to leverage organizational spending to realize cost savings on branded products across multiple buyers and entities.
Boundless Network’s GroupBuy solution enables multiple buyers within a single organization and buyers across different organizations to purchase products together while still allowing them to be independently branded. This creates the ability to leverage the collective buying power of an entire network of other buyers and realize cost savings, process improvements, and assurance of brand integrity.
“Our GroupBuy application delivers unprecedented cost savings opportunities for our customers globally,” says Henrik Johansson, President of Boundless Network and co-author of the patent. “Decentralized organizations with multiple locations can now leverage the collective buying power of the entire organization seamlessly, and smaller organizations can piggy-back on the purchases of larger companies to get the cost advantage that are traditionally reserved for Fortune 500 companies.”
Over the last six years, Boundless Network has been a leader in the promotional products industry with a significant focus on adding value to customers through technology. With this patent, Boundless becomes the only promotional products distributor with a patented group buying platform.
“In today’s economy, where saving money is a priority within all organizations, the GroupBuy solution is resonating with my customers,” says Amber George, Regional Director of Boundless Network’s Dallas office. “Procurement managers are seeing this as a more efficient business process than the traditional approach to purchasing logoed merchandise.”
Boundless Network is the fastest growing, venture-backed promotional product distributorships in the U.S. The company reached the ASI Distributor Top 40 list in its fourth year of operation, where it outpaced the average annual growth of the other ranked distributors by more than 50 percent. Last August, Inc. magazine recognized Boundless Network on its Inc. 500 | 5000 list; Boundless Network was the seventh fastest-growing company in the “Business Products & Services” category.