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FEATURE ARTICLE Subject: Feb2001 ECMgt.com:
The More Things Change, the More They Stay the Same |
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President and CEO, Calico Commerce
There's no business like eBusiness these days. In recent months we've seen companies in every sector achieve both the highest highs and the lowest lows. And while the lows are getting the majority of the press today, the news is by no means all bad. Rather, it is encouraging in many ways that fundamental economic principles are proving true and businesses based on them are holding their own. eBusiness is not a trend, and it is certainly not dead. The reality is that market predictions for B2B eCommerce over the next several years remain strong. In fact, eBusiness is this year expected to represent $47 trillion revenue dollars for companies enabling and participating in it globally, according to Credit Suisse First Boston. The reason for the continued growth of this market is a business basic - supply and demand. The bottom line is that companies need to meet the demand for their products and services, and they need to do so efficiently and cost-effectively by matching supply and demand as closely as possible. This bottom-line necessity can be achieved today better than ever before - through the basic eBusiness principle that companies need real-time access to business-critical information, and they need to be able to share it with their buyers and suppliers. The kind of collaboration that eBusiness enables - through private and public exchanges - is revolutionary in many ways, but it is a practical answer to an age-old problem. More and more companies are realizing the benefits of collaboration, such as reduced cycle time, improved customer satisfaction and increased revenues - benefits that can only be called old fashioned (and essential). This return to the basics is just what today's economy calls for. Rather than experimenting with what new technologies can achieve for the sake of accomplishment itself, it's time for businesses to put technology to work. With the power of today's technology, companies can really achieve something - process efficiencies, asset optimization, even profitability. This is not to discount the need for technical innovation, for continued innovation is the path to continuous improvement. But companies across the board need to focus on their core competencies - and in many cases doing business, and doing it well, has to be the competency and the focus. Companies that know what they do, that do it well, and that rely on other experts as appropriate will be the successful ones - just like before. This is the nature of business, and that essential nature has not changed in the new economy. The Internet has undoubtedly changed our lives and the way we do our jobs permanently - mostly for the better. But it has not changed the foundation on which life itself or business is built. Companies had to, have to and will have to plan, execute and measure according to the basic rules of supply and demand. eBusiness helps us do that faster, better and cheaper - but it's still just business at the core.
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