E-marketplace

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[edit] E-marketplace

An eMarketplace, or electronic marketplace, is a community of buyers and suppliers. More specifically, it’s an electronic community that integrates the procurement systems of buyers with the fulfillment systems of suppliers, creating a single standard process for transacting business. The efficiencies gained by using: 1) one process for multiple business relationships and 2) a web-based solution instead of paper, phone and fax, make joining an eMarketplace very attractive to companies as they seek to reduce unnecessary costs.

According to Gartner Vice President and Fellow Andy Kyte, "The act of commerce demands communication between buyer and supplier. The communication needs to be fast, reliable and secure – and as integrated as possible into the transaction systems of the trading parties. It simply doesn't make sense to try to run large complex enterprises with paper-based communication – it is slow, unreliable, insecure, and impossible to integrate.”

The first phase of electronic business-to-business transactions was conducted using EDI (Electronic Data Interchange). Unlike eMarketplaces, EDI networks used one-to-one connections to connect single buying entities to their suppliers and route transactions between the two. They were expensive and difficult to implement because they required highly structured and proprietary technology to send transaction documents.

Today eMarketplaces deliver a much higher return for less investment. You can connect once to all of the companies you do business with and digitize more processes. In short an eMarketplace enables you to leverage:

Many-to-many connectivity instead of one-to-one connectivity
A comprehensive set of digitized processes
Higher efficiencies due to lower connection and network costs
Short ramp-up times; you can transact within days

External links

Strategic Sourcing Resources about B2B eMarketplaces http://www.quadrem.com/index.asp http://www.sdcexec.com/publication/article.jsp?id=8885&pubId=1 http://www.inc.com/magazine/20060801/handson-global.html http://www.vnemart.com/

Some B2B eMarketPlace Websites GlobalSources.com,DIYTrade.com,HC360.com, vietnamtradefair.com, fita.org, Electronic Data Interchange