The present invention seamlessly facilitates information exchange between not only a vendor and a single customer but also between vendors and Procurement Services Providers (PSPs), supporting more than one customer, each with its unique specifications. This framework also has the capability to handle dual pricing. Dual pricing is used to differentiate the price that a PSP has negotiated with a vendor from the price that an end user/customer will be ultimately charged. These two levels of pricing are maintained at the customer/vendor level. This invention is used to create a framework for exchanging catalogue information between the vendors or vendors of IT products and a customer or a PSP acting on behalf of one or more customers.