Business To Business Commerce Essay

1701 words - 7 pages

Business to Business Commerce In their article Richard Wise and David Morrison stressed the upcoming
importance of fast development of B2B-business-to-business commerce,
especially in relation to the financial services industry. Recently we
can observe serious steps being made in the functioning of the
financial markets, and the role they play in the business-to-business
commerce cannot be overestimated. Basically, looking at the picture of
contemporary business models it's easy to see that internet plays
indispensable role in the commercial progress, which brings numerous
and serious benefits to the companies. Business-to-business
transactions were (and still are for some companies) based on a
complex network of inter-connections, with every connection being
different for each supplier or buyer. Errors of transactions, such as
stock quantity and type, were commonplace. However, the Internet has
provided a means, compared to EDI (Electronic Data Interchange), in
making transactions flawless, easier and more profitable.

The problem has arisen due to companies rushing to start
e-marketplaces without any clear strategy. The companies fail to
create any ideas on how they affect the industry value chain, sales
and distribution and the supply chain. Professionals expect the
e-marketplaces to have no "significant" impact on the Internet
commerce until 2003. However, e-marketplaces are establishing
profitable contacts all over the Internet.

B2B Centrum is a company, which creates and operates e-marketplaces
and implements and leases them for specific clients. Their most
significant to date was that of intelligo.cz, launched in October
2000. Its purpose was to increase efficiency during procurement and
sales of goods. It was the first of its kind, positioned to tackle the
342million CZK (US$3b) Czech non-production MRO market. It is not the
only such leader of its kind, in its market that manufacturers or
buyers would find hard to ignore. Covisint.com is a B2B marketplace
that any major supplier would find hard to resist. It has members such
as General Motors, Ford and DaimlerChrysler.

The authors of the given article claim that the most evident shape of
the future business-to-business commerce will be the industry of
financial services. The explanation of this lies in the fact that B2B
and financial services industry have many in common, namely: large and
liquid exchanges, fierce competition, and information-based
transactions. Being very old, financial services industry can serve as
a model for future development of B2B, which is practically new for a
contemporary world of commerce.

It is widely emphasized in the text that commonly accepted exchange
models of B2B activity have numerous and substantial...

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