Professional Documents
Culture Documents
Chrysler Corp.
Chrysler Corp., by linking to its suppliers through a
Web-based network, reportedly saved more than
$1billion in cost of materials in 1997. By 2000,
Chrysler’s estimated annual average savings will
amount to $2 billion
The Internet is a tempting channel for a Bank which
can conduct an online transaction for five paise
versus RS 1.50 through a teller.
The biggest challenge for companies involved in
electronic commerce isn’t the technology-it’s
changing the corporate culture. “It requires an
organisation to be bold.”
Success stories...
Cisco
The Cisco Connection Web Site, now available in
14 languages and with 49 country pages, is
claimed to be the largest Internet Commerce Site.
John Chambers, President and CEO, Cisco
Systems Inc., predicts that E-Commerce will be
the primary means by which business will be
conducted in the next 10 years.
Cisco’s sale through the Web has touched $ of a
total of $ billion.
Success stories...
Dell Computers
2 Consumer sends on
enciphered request for
payment to her bank
Cyber-cash
Some of the third party payment offerings now available are
CyberCash, Ecash, First Virtual Payment System and
Clickshare.
CyberCash is a realtime secure, digital signature-based
credit card authentication service, developed by CyberCash
Inc. It acts as an intermediary between the consumer, the
merchant and the credit card clearing house.
Ecash on the other hand is digital money that is downloaded
by an Ecash client from a participating bank and stored on a
customer’s local computer. Ecash can be spent at merchant
systems that accept it; accepting merchants, in turn, must
deposit Ecash receipts at a participating bank.
Of the credit card payment systems available now on the Net,
ICVERIFY, from ICVERIFY Inc. is the most popular.
ICVERIFY processes and authorises credit card transactions
online.
Duty Free on the Net
Last month, the World trade Organization came to a decision
to keep global electronic commerce duty free, and agreed to
evolve a programme to deal with its development on the
Internet. The new agreement, involving trade ministers of 132
countries, bars governments from collecting any tariffs on
such transactions for atleast a year. It ofcourse has incurred
wrath from non-governmental organizations since such an
exercise would benefit corporates of developed countries;
governments, by the way, would lose the option of a revenue
earning source.The Global Internet Project(GIP) presented
the European Union (EU) with its recommendations on e-
commerce last month. EU wants to develop a global charter
covering technical standards, illegal content, licenses,
encryption and data privacy on the Internet and other
Electronic networks.
Major components of E-COM