WT100 Blog


The New Business Ecosystem

January 27, 2014

Companies today can develop global business opportunities and increase market share like never before thanks to the Internet, favorable trade regulations and globalization. But, there one area remains a stumbling block for most companies: finding a fast and easy way to conduct business transactions.

Business commerce networks have emerged over the past few years to address this issue. They facilitate commerce by expediting electronic invoicing and e-ordering, so companies can easily connect with their trading partners all over the world.

Hundreds of these networks have combined into larger open networks, breaking down the traditional barriers between countries and industries and offering interoperability between various providers to create a truly global marketplace.

The next step is to connect these transactional business networks with payment networks so suppliers can be paid fast — upon invoice approval — while buyers can extend their payment terms.

With the growing trend of large companies to extend their payment terms so they can hold onto their cash, it typically takes 60-100 days for an invoice to be paid. That’s putting a lot of pressure on suppliers — potentially jeopardizing their financial stability and creating risk in the supply chain.

Business commerce networks are new business ecosystems that address these challenges. By combining the networks that expedite e-invoicing with payment networks, companies can have their cake and eat it too — making sure their suppliers are paid quickly while extending their terms.

It is a win-win situation for corporations and their suppliers, enabling a new golden era in global commerce.

You must login or register in order to post a comment.

Multimedia

Videos

Image Galleries

KC SmartPort Momentum

Kansas City SmartPort Momentum 2013 focused on 3PLs, the issues facing the industry, and the role or logistics in economic development

Podcasts

 

Calculating a true landed cost for global sourcing directly correlates with the profitability of purchased goods. However, few companies can command real-time visibility in to all the costs involved for cross border movements. In this podcast, World Trade 100 and Amber Road highlight how a comprehensive global trade platform that converges both logistics and compliance costs can deliver true landed cost visibility.

 

Speaker: Hung Lee, Senior Product Manager, Amber Road

More Podcasts

THE MAGAZINE

World Trade 100 Magazine

april cover wt100 2014

2014 April

Check out the April 2014 edition of World Trade WT100, featuring articles on fueling changes for trucking plus much more!

Table Of Contents Subscribe

Supply Chain Disruptions

Which are the most common causes of disruptions in your supply chain?
View Results Poll Archive

WT100 STORE

world-class-warehousing.gif
World-Class Warehousing and Material Handling, 1st Edition

Filled with proven operational solutions, it will guide managers as they develop a warehouse master plan, one designed to minimize the effects of supply chain inefficiencies as it improves logistics accuracy and inventory management - and reduces overall warehousing expense.

More Products

Clear Seas Research

Clear Seas ResearchWith access to over one million professionals and more than 60 industry-specific publications,Clear Seas Research offers relevant insights from those who know your industry best. Let us customize a market research solution that exceeds your marketing goals.

Use our interactive maps to locate service providers across North America.Interactive Map

Logistics Development Partners 

IWLA Members

STAY CONNECTED