What are e-marketplaces?
Electronic procurement promises businesses and organizations a host of benefits, from better internal controls to faster processing to better prices. It results in aggregated buying power, informed decisions, reduced transaction costs and simplified business processes. Most businesses also benefit from the promise of faster payment, better product visibility and potential access to a wider range of buyers. E-procurement is big business, and growing fast. Global business-to-business (B2B) sales will reach US$6 trillion by 2004, up from US$919 billion forecast for this year, according to the consulting group Gartner Inc. By registering with on-line bidding services, you can realize the following specific benefits: You can have new opportunities to quote for contracts from a large base of buyers You often have the chance to amend your offer online – you don’t risk losing orders because you weren’t aware of a better bid for the same contract You can amend your offer, where possible, no mat
