We are in the early phase of an exciting and dynamic technical revolution. It has the power to transform commerce and business and will touch many aspects of society from health to transport. Organisations that fail to adapt will be swept aside however productivity gains will fuel the economy. New products, companies and entire sectors will emerge. The revolution is e-business.

What is e-business?

The term e-business is a broad concept that refers to the processes and benefits arising from and through businesses using electronically connected computers and related communication devices both internally and externally.

It has come about through the convergence of a number of technologies such as:

• Internet
• Web
• Telecommunications
• High bandwidth connectivity
• Multimedia
• XML
• WAP

Together these have transformed the way in which organisations can communicate and exchange information with customers, suppliers and internally. In consequence entirely new methods of conducting commerce have developed and will continue to emerge. Further the adoption of these technologies has a major beneficial impact upon business efficiency.

Benefits

The potential benefits are significant and include:

• Enhanced Customer service
• Improved Customer retention
• Lower inventory costs
• Improved supply chain reliability & partner trust
• Higher productivity through less duplication and administration
• Increased revenue from additional selling opportunities
• Access to new Customers
• More efficient globalisation
• Reduced cost of transactions
• Dynamic relevant & immediate information

Relevance

Major organisations in the automotive, aerospace, retail, chemical, energy, computer and electronic sectors have already made significant advances. In a number of cases fierce competitors have joined together to create powerful online exchanges linking thousands of suppliers. General motors have stated that in three years they will procure all their component supplies over the Web.

The business to business market (B2B) valued in 1999 at less than $150Bn is forecast to rise (at the lowest estimate) to $2.7Tn by 2004. Growth on this scale is unprecedented.

The question is not "is this relevant to my business" rather it is "what are the:

• implications
• threats
• opportunities

and action required". This is where io solutions can help.