Truly global standards and application of business online fee payment processes
This is an important milestone for Rosetta Net in creating a truly global, standards-based organization,” said Jennifer Hamilton, CEO of Rosetta Net. “Rosetta Net began as a multinational initiative and we continue to expand global operations with local and regional offices that will be involved in ensuring the development of truly global standards and implementation of the Rosetta Net e Business online fee payment processes’.
The Rosetta Net consortium in Singapore will consist of a steering committee, supply chain partners, solution partners and coalition partners and is supported by the Info Comm Development Authority (IDA) of Singapore. Representatives of the 10 Mn Cs are also participating and include Agilent Technologies, Chartered Semiconductor Manufacturing, Compaq, Hewlett-Packard, Intel and Motorola. Consumers exhibit different behaviors and express different concerns. For example, a recent study showed that 25% surf online and buy from brick-and-mortar stores, 19% are brand loyal and buy from merchants they know, and 17% are interested in saving time and maximum convenience. According to another study, consumer concern about late delivery increased from its 1999 level to 59% during the 2000 holiday season.
However, concerns about the security of credit cards and personal information have decreased from 50% in 1999 to 33% in 2000. After an early emphasis on B2B applications to support sales processes; electronic procurement systems have received much attention. More recently, attention has turned to Internet-based electronic markets. In a recent study, market research company Jupiter Communications estimated that investment in creating inter-organizational online marketplaces will reach $80.9 billion by 2005, up from $2.1 billion in 2000. The use of information technology (IT) to connect organizations is by no means a new phenomenon, but reaches back several decades to include electronic data interchange (EDI) systems and remote terminal applications. However, systems based on Internet standards appear to be easier to technically set up and cheaper to interconnect.
In this way, they could reach wider adoption and adoption than many of the earlier initiatives and, as a result, give smaller players a realistic opportunity to join and reap benefits similar to their larger counterparts. An electronic marketplace is a virtual marketplace where buyers and suppliers meet to exchange information about prices and products and services offered, to collaborate, and to negotiate and conduct business transactions. Numerous announcements of online exchanges, likely involving many thousands of business partners, have been made across a range of industries, including automotive, retail and electronics. However, success is not always guaranteed.
In fact, B2B online marketplaces often report difficulties in generating sufficient liquidity and in some cases have already ceased operations altogether, providing evidence of the importance of carefully crafted management concepts. B2C customers demand a superior shopping experience spanning the entire process from formulation to fulfillment of their needs.
They expect not only on-time delivery, but also instant access to their order history, delivery information and second product availability information. Many of these features require deep front-end integration online fee rameesh procurement systems and back-end supply chain and logistics applications. Both FedEx and UPS offer systems that can integrate delivery status and other information from shippers directly into e-commerce systems. They can also provide an online facility for customers to initiate package returns on the network and link them to return locations. They also provide the customer with the ability to track returns and ensure that his/her account is properly credited (EW – Nov 20, 2000). Each phase of e-commerce affects customer satisfaction differently. For example, fulfillment affects satisfaction by 55% and selling by only 5%. Fulfillment problems such as lost orders, incomplete or inaccurate product availability information, and late deliveries were a common customer experience in 1999.
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