RealTime IT News

Blue Chips Have Head Start in E-Commerce

A new study from Killen & Associates concludes that long-established "blue chip" companies have a leg up on Internet startups in the race to develop electronic commerce.

"Billers: EBPP Opportunities and Threats" says that Electronic Bill Presentment and Payments (EBPP)is the key. Established utilities, telephone companies, and financial services companies, for example, already have the attention of the client through their monthly billing process. This resource should prove invaluable for generating electronic commerce.

By 2003, 40,000 of the 100,000 service companies that issue the bulk of the monthly bills will do so and receive payments monthly over the Internet. This development predicts a change in how companies use the billing/statement process, how they request payment, how they migrate customers to self-service customer care systems, and how they reduce costs.

The study focuses on these companies and the opportunities and threats they face as they or their competitors embrace EBPP by analyzing market and business trends. The study's target audience includes bank and consulting firms, software, systems integration, and processing companies as well as providers of billing, e-commerce, and payment and data warehousing systems and services.

The report provides a view of how financial services, telephone, and utility companies around the world are attempting to leverage their billing processes to develop electronic commerce, obtain a competitive advantage in marketplaces where they see competition, reduce costs, and obtain other advantages.