RealTime IT News

Virtual Business Transactions Absent on Internet

HANOVER, GERMANY -- The Internet has thus far not stood a chance against telephones and fax machines when it comes to closing business deals in German companies. This was shown by a survey taken in 200 firms which was presented on Monday at the Hannover fair in Hannover, Germany by the online subsidiary of the market researcher Emnid.

In the B-to-B area, the carrying out of complete business transactions via the Internet has not yet taken hold to the degree that was predicted in the past. This was the result of the study commissioned by the Hamburg-based company Wer liefert was GmbH. The Internet enjoys great popularity in the search for information, but when it comes to making contact and placing orders, buyers still turn to the fax machine and telephone.

In the "Virtual B-to-B Market Places" study, Emnid examined the acceptance of the Internet and business transactions over the Web. After the initial study in the fall of last year, decision-makers from companies with between six and 1000 employees were interviewed again. "The results show that by far not all business processes have been transferred to the Internet," said Frank Wagner from Emnid at the presentation of the study at the "Power of Industry" fair in Hannover. According to this, the Internet is used mainly in the search for new suppliers and products. These motives were named 42 percent of the time and are undisputedly in first place. Participants even gave the aspect of researching products a higher degree of usefulness than communication via e-mail or the search for industry-specific information.

In total, the procurement volume available to new suppliers stands at 30 percent. The remaining volume is already taken up by basic agreements and fixed company suppliers.