e-Business Marketplaces

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E-business marketplaces consist of tools and processes that help us do business with other businesses more effectively. The systems encapsulate business rules (how business is done), processes (protocols and support for the process), technology (to encapsulate the rules and process), and the transaction support for the application (underlying system for the system and the technology). If that's all there is to it. why do we have this new marketplace to describe what we have been doing for many years already? The answer in two words: "efficiency" and "change."

Every e-business system can add value by connecting partners in an improved supply chain for the product or service. E-Business systems - and the companies using them - can often create a multidimensional aspect to the marketplace. Firms setting up new e-business enterprises often have a great deal of experience in particular vertical markets or industries. This detailed knowledge often provides the basis for an improved business model, whether by taking advantage of an opportunity in the marketplace, or by identifying ways of making an existing market more efficient.

Many discussions of e-Business focus on the Digital Marketplaces or the topic of supply chain. While both are important, there is more to e-business than just these. It is possible to have many different types of e-business system involved in a single company of operation. It is important to understand this multi-dimensional aspect as e-business is integrated into your organization.

In marketplaces and exchanges, there are often many of these
components linked together in a complementary web of services. For
example, a procurement system may need to be supplemented with an
auction capability to meet all the needs of an individual marketplace.

Others may require a reverse auction to allow the development of "bidding sites" with qualified and verified contributors.

Each of these systems has to comply with corporate standards and work practices and the technology must be put in place to support them. Many systems today include the capability to "program in" business rules in order to "emulate" physical methods of doing business. This allows for a customer-specific version of a procurement system meeting the needs of each individual in the marketplace.


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