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Streamlined E-Procurement

“Streamlined E-Procurement”

If you do business with large corporations — or hope to — listen up: U.S. business-to-business e-commerce will hit $2.7 trillion in 2004, reports Forrester Research. In its survey of Fortune 1000 executives, more than 90% had plans to buy and sell on the Internet.

Chalk up much of the activity to new e-marketplaces, where cross-organizational efficiencies are prompting companies to conduct online transactions. These new marketplaces offer price comparisons and data analysis of the buying and selling sides of your business. Some of the more popular e-commerce models include auctions, aggregators, bid systems and exchanges. By 2004 Forrester expects these e-marketplaces to capture 53% of all online business trade.

Writer: Tom Truman