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Published Jul 22, 2024 • 3 minute read
LONDON, Ontario — Tech company LBMX Inc. and LMC, the largest Forest Products and Building Materials cooperative in the United States, finalized a significant commercial upgrade to expand the existing LBMX services. This will result in a full end-to-end LBMX Group Platform for LMC and its members.
The two organizations have had a strong partnership in place for the past 9 years noted Paul Ryan, President, and CEO of LMC. “LBMX was the obvious option when we began the process to evaluate a larger technology transformation for our entire B2B platform needs,” remarked Ryan. At LMC’s 2023 Expo, held last November in Philadelphia, Ryan made a commitment to replace the LMC legacy billing systems with a new, single platform designed to improve accuracy and reporting, downsize manual work, and create a faster claims process among other features.
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“We looked at a number of options, including building a solution in house, however the current and future capabilities of the LBMX Platform and the vision of the LBMX team for future enhancements particularly in the area of AI and ML, ultimately made LBMX the right choice,” says Jack Phipps, VP, Information Technology at LMC.
LMC will take advantage of LBMX’s fully managed EDI services, leveraging the power of real-time data to view full analytics for the group and dealer members, manage claims, deliver statements, and complete full central billing activities.
Alison Fulton, Chief Revenue Officer of LBMX, says this partnership is an important evolution in the portfolio of the group business for LBMX. “It’s well understood that LBMX dominates the lumber and building materials (LBM) space in Canada, with most major buying groups as customers in addition to having a presence in the UK and New Zealand. This upgrade at LMC brings the largest US buying group for LBM fully into our ecosystem, marking us as the premiere solution in this industry.”
The LBMX platform is architected to provide advantage for all participants in the supply chain. “Our focus on member-driven organizations and our deep industry experience in LBM has resulted in a solution that drives real value for everyone: LMC members, LMC suppliers, and LMC,” remarks Greg Dinsdale, CEO of LBMX Inc.
LMC and LBMX are set to begin implementation of the complete platform transformation beginning in August 2024.
LMC is the leading Forest Products and Building Materials Buying Group in the USA owned by independent lumber and building material dealers. There are over 1,800 LMC dealer locations in the United States. “Building Business Together” is LMC’s philosophy, rooted in a history of working together and standing the test of time since 1935. LMC dealers are united in their purchasing, creating a strong foundation that supports the growth of unique supplier relationships and purchasing opportunities.
LBMX offers a business-to-business technology platform, helping independent businesses, their buying groups, and suppliers buy better and sell more. The LBMX Group Platform has transformed billing and ordering, rebate management, real-time analytics, e-commerce and product information management across the building materials, HVAC, plumbing, sporting goods, industrial supply, manufacturing, and agricultural industries. Its LBMX Supply Cloud platform allows suppliers to look at their industrial distribution customers through one lens, offering full EDI, PIM, Analytics and Payments.
LBMX is based in London, Canada and has customers throughout Canada, United States, United Kingdom, Australia and New Zealand.
View source version on businesswire.com: https://www.businesswire.com/news/home/20240722397010/en/
Contacts
Media contacts:
LBMX
Alison Fulton, Chief Revenue Officer
[email protected]
LMC
Fran Monk, VP of Marketing
[email protected]
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