B2B Exchanges: The Killer Application in the Business-to-Business Revolution
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The Internet has sparked a revolution in the way that businesses buy and sell products from each other. These "Business-to-Business" (or B2B) transactions are increasingly being done over Internet-based net markets or "B2B exchanges." These exchanges resemble stock exchanges in many ways, including the way they are set up and organized and the trading methods they employ -- but they are trading physical commodities such as paper, chemicals and steel or financial services like insurance and credit derivatives, rather that stocks and bonds.
In this ground-breaking book, Arthur Sculley and William Woods analyze the revolution that is occurring in B2B transactions. The authors make the startling claim that "the Internet changes everything in B2B" and that most corporations will have to re-invent themselves over the next five years to remain competitive in the New Economy. Customers are becoming far more demanding as the Internet has created a once in a lifetime shift of power from the seller to the buyer. B2B exchanges, which are developing at Internet speed, are catalysts for this change and represent a tectonic shift in the way that businesses buy and sell from each other.