| |
| |
|
Ecommerce Information |
|
|
|
Doing Business Online - Private B2B Exchanges
Business processes are the building blocks of an enterprise. If one of these processes fails to live up to its expectation, business starts to flounder. How to minimize the risks, get a better monitoring of the processes and, at the same time, reduce costs involved? The answer is - business process automation. Although, automated business processes based on online technologies can create incredible value to existing business, many companies are slow to adopt technological innovations and reap benefits from them. However, lately, things have started to change! According to a recent poll conducted among mid size companies shows 52 percent of respondents plan to spend over a million dollar on business process automation. Large companies - early adopters of online business processes - have been immensely profiting from the value created by process automation. Intel recently announced that it saved one billion dollar last year alone thanks to online business process management. In broader sense, business process management technology delivers solutions to understand, analyze and simulate business process models. Companies adopt this technology to streamline their business operations, lower overhead expenses, reduce maverick buying, reduce paper-based - mistake prone - transactions and get better control. The ultimate goal is to make the corporation a fully process-managed enterprise, transformed through strategy, design, realization and actual operations. Companies require streamlining their business processes to help solve various crucial but specific problems, such as:
Although, business processes are wide in range; and there are many complex issues that require meticulous work, automation of some basic processes may bring notable result for virtually any company. These processes include supply chain, procurement, logistics, inventory control, etc. By adopting an online business to business exchange companies can streamline most of these business processes bringing added value to their operations. A B2B exchange is a unified online platform, where buyers and sellers login to communicate, collaborate and make business transactions. A private B2B exchange, mostly, consolidates suppliers and buyers of a specific company, which owns and operates the exchange. There are two ways of integrating B2B exchange to automate business processes. A company can participate in existing B2B exchange or create its own private exchange. While for small companies, it is more viable to participate in a major B2B exchange that has required components, larger companies should consider creating their own B2B exchange. The profits companies can reap from joining an existing B2B exchange or creating their own private one could be enormous. Customer Base Development A supplier, once registers with a B2B exchange, gets immediate access to a large community of prospective buyers of his products or services. Increase Revenue from Existing Customers Business process automation allows companies develop products faster, buyers get faster and easier access to product information, receive quicker response to their requests, get better customer support and may buy products online. These turn into more sales. Add Profit from Value Added Services Once the exchange is set as primary sales channel, available free resources can be used to create more value added services for clients. Some of the services that the exchange may offer also can be used to generate more value. Reduce Order Processing Cost The supply chain solutions of a B2B exchange may allow sellers to reduce order processing cost significantly. Studies show that cost of processing a purchase order can be reduced from US$ 70 down to US$ 6 only. Sales and support costs By automating sales and customer support processes companies can reduce over head costs over 25-30% easily. Inventory keeping costs Clearer visibility and forecasting ability allow companies considerably reduce inventory keeping costs. Since an existing B2B exchange may not have all the necessary features and functions, a good option is to build a private exchange based on one's own specific business process automation need. This exchange, at its minimum, should be able to cover major portion of supply chain and inventory control. The following elements should be integrated to create substantial value to a private B2B exchange: Supply Chain Management Supply chain management is the core solution of an exchange and can deliver great values to existing systems. Implementation of this solution will help achieve incredibly high return on investment. Business process automation in this component of the exchange includes both supplier and buyer-side quotation, requisition, purchase order and invoice. Marketplace This is the venue where the exchange owner company will post their products for sale. A shopping cart should be integrated to the electronic marketplace in order to automate the buying process. The offered-for-sale products will be directly related to inventory control management component of the exchange. Auction Electronic auction system can use both English and Dutch auction methods. For convenience the auction component can be integrated to the electronic marketplace. Online auction helps liquidate surplus goods easily. Reverse Auction This solution allows automate electronic procurement, where suppliers compete for a business deal real time online. Members Storefront The participants of the Private Exchange - both buyers and sellers of the exchange owner company get a Storefront that reflects profile of the company, their products and other information. Forum A Forum or Discussion Board is an organized, on-line interactive message board where participants conduct discussion on a set of topics by posting questions, comments and responses. Directory of Companies This is a listing of all registered participants - buyers and sellers of the exchange owner company - either by business category or by alphabetical order. An advanced search engine tool can be incorporated in order to find a company based on data provided. E-catalog E-catalog is a hierarchy of product and service categories. All products and services handled by the exchange owner company should be consolidated in the catalog. Private B2B exchange is a powerful concept, which engulfs a fairly big portion of business processes requiring automation. This is more like a business ecosystem that has an ability to change the way companies think and do business and create tremendous value to their owners. Nowshade Kabir is the founder, primary developer and present CEO of Rusbiz.com. A Ph. D. in Information Technology, he has wide experience in Business Consulting, International Trade and Web Marketing. Rusbiz is a Global B2B Emarketplace with solutions to start and run online business. You can contact him at mailto:nowshade[at]rusbiz.com, http://ezine.rusbiz.com/newsletters/newsletter31.htm
MORE RESOURCES:
Ecommerce - Google News |
|
|
|
RELATED ARTICLES
E-marketplaces from Sellers Perspective What is an E-marketplace anyway?E-marketplace is a business to business web based venue, where buyers and sellers meet online, generate business leads and conduct business transactions. The e-marketplace features are tailored in a manner so that a large numbers of buyers and suppliers can be serviced as a community. Leading eCommerce Consultant Admits You Should Only Listen to One Real Expert! (And its not him!) Let me share with you a secret that most marketing experts and consultants don't want you to know? (many of them don't even understand this secret themselves.)The secret is? There is only one true expert who can show you how to drastically improve the effectiveness of your website and your marketing. Implications Of E-Commerce For Tax Legislation As e-commerce develops ambiguities in the current tax code in which it may be exposed. It would not be regarded as too early to take premature steps for undertaking such a review at a time when detailed international legislation are going on to promulgate acceptable standards laws for imposition taxation in this regard. The Lowdown On ECommerce: Making All The Pieces Fit Together The Lowdown on EcommerceEcommerce is truly the most confusing aspect of purchasing web design services. This is unfortunate since most (if not all) businesses online would like to provide their customers and potential customers with easy access their products or services. Accepting Credit Card Payments Online Being able to accept credit cards and other online payments is crucial to the success of your business and profits. Your customers are more likely to buy from you if you offer them a secure and convenient way to order goods and services online at your site. Online Customer Service - The Cornerstone of a Successful Online Business Online customer service is still one of the most frequently overlooked aspects of running a successful online business. Yet, in the highly competitive world of Internet business, it could be (and should be) the one thing that sets you apart from your competition!Most Internet businesses that have a drive to succeed focus all of their time and resources on building a great site, and then trying to drive tons of traffic to that site. The Five Most Commonly Encountered, Off-putting E-commerce Errors While getting less public handwringing than during holiday season, the "abandoned shopping cart problem" continues to wreak havoc on online sales. Recently I judged a raftload of sites for the Webby Awards (my second time) and for the Inc. Select a Niche Market for Ecommerce Choosing a carefully pinpointed niche market should be one of the first steps that an internet business owner has to take. A very common way of describing a niche market is 'a targeted group of individuals with very specific and similar needs or interests. Guide To Safe Online Shopping Online shopping can be a little frightening to people who are new to the internet,but as long as you follow a few easy rules you should have no problem shopping online.What are the rules ?First before buying from an online store find out what that online stores return policy is. The Internet and Customer Care: Aid or Anarchy? It was reported in 'Marketing' magazine this month, that Britain is becoming a "disaffected nation", with each adult apparently making an average of 12 complaints to service providers each year, based on a "Service in Britain" survey by ASR (Andrew Smith Research). In response to the rise of the 'assertive consumer', brands are endeavouring to make sure 'good customer service' is a recognisable characteristic in the form of testimonials, efficient call centre responses and empowering staff throughout the company to resolve problems. 5 Tips for Online Shopping Shopping online has become more and more popular in America as we are all looking to save a little time and money. E-commerce sales are growing at astronomical numbers ranging from 20-25% per year. Creating Legal Framework for E-commerce Taxation; non-tax statutes We have to make amendments in existing substantive and procedural laws to make it compactable with changing technological advancement of e-commerce?Amending Contract Act, 1872I recommend the amendments in section 3 and 4 of contract Act 1872 so as to make the compactable with section 13, 14 and 15, of the electronic transaction ordinance 2002 related with attribute of communication, acknowledgement of receipt and time and place of the communication between the parties. Either additional section should be added for acceptance device of 'electronic communication', or words be added in matter connected with electronic communication relevant section 13,14 and 15 be evoked while interpretation of section 3 and 4 of contract Act 1872. Expand Your Local Business Through the Internet To obtain more local customers for your business, consider expanding your local business through the Internet. Here are some ways of doing so. Ten Reasons Why Online Surveys Are The Future of Marketing Customers are tough cookies. They're extremely media aware and increasingly cynical - it's a clever marketeer who can get under their skin. 12 Easy and Effective Ways To Create Reports 1. Combine a few of your articles into a free report. PayPal Powered Three years ago I was doing some work for a local university helping to redesign an internal website they wanted updated and made more user friendly. When the job was done the person I was doing the job for wanted to use his school issued credit card to pay for my services. Using Drop Shipping for E-commerce Thanks to the ubiquity of the internet, online virtual businesses have become very popular business opportunities. Online retail stores are gradually playing a more important role in our lives than the traditional 'brick-and-mortar' retail shops. Content Ever be Profitable? THE CURRENT WORRIES1. Content SuppliersThe Ethos of Free ContentContent Suppliers is the underprivileged sector of the Internet. How To Sell Websites Fast ! This article will explain in depth the steps needed to sell your website fast in today's marketplace.Step 1 Establish a Reasonable Price for Your SiteHow Much Can I Get?Before you sell, it's a good idea to know how much the domain is worth. Direct Marketing isn't all Brute Force There are so many metrics surrounding direct marketing. So many facts, figures, test results and other sundry measurements.
|
| Good Credit Loans | home | site map | School Bus Clothing | Florida Pool Heating |
| © 2006 |
