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Flexibility Is Key to Integrating Institutional E-Commerce into the Mainstream BusinessPublished by: TowerGroup Published: Feb. 1, 2000 - 13 Pages Table of ContentsHighlights Vision Introduction E-Commerce Distribution Channels Advantages and Challenges of E-Commerce The Need to Integrate Steps of Business Integration Strategy Current E-Commerce Strategies The Most Important Factors Conclusion AbstractGlobal financial market structures are beginning to break down as the Internet spreads through them, enabling greater accessibility and less expensive trade execution. Similarly, market strategies for electronic trading systems are forcing fundamental changes in the shape of investment banks and are changing the traditional model of how a global broker/dealer is run. However, as the brokerage industry is enabled with business-to-business (B2B) electronic commerce products, it has often lost sight of the importance of flexibility when integrating it with its traditional business model. This critical issue is a primary factor governing the ultimate success of their e-commerce effort.The e-commerce solutions most likely to not only thrive in the present but also—more importantly—last into the future will be developed following an assessment of the firm's internal direction and organization culture. This must be connected to the profit model evolving within the industry to ensure compatibility with its business structures. Further, investment banks must be careful to focus on only those businesses that will achieve value added from e-commerce. Some areas have already completed their turnover and hence will reap minimal gain. Regardless of an investment bank's business niche, the overriding factor for all B2B system development is flexibility over functionality, because no firm can foresee the progression of new technology in the future. Accordingly, the most opportunistic investment bank will be able to react as the markets evolve and provide the best B2B e-commerce product for its clients.
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