BTB Executives Look to Enhance Trading Networks, Report Says

Share this article:
More than one-quarter of business-to-business executives said they would add features to their private trading networks in the next 12 months in order to allow companies to use collaborative online activities such as inventory-level monitoring and product design, a research report issued this week by Jupiter Media Metrix said.


The report surveyed 406 BTB executives at companies of all sizes.


Private trading networks are a new tool designed to link the interests of buyers, suppliers and distribution partners.


The report, titled "Private Trading Networks Promise a New World of Collaboration," predicted that the addition of collaborative applications to private trading networks will outpace the addition of transaction-focused enhancements, as only 20 percent of BTB executives indicated that they will focus on procurement features.


Analysts at Jupiter, New York, said the shift from transaction models to collaborative private trading networks will offer companies the best short-term return on investment by allowing buyers and sellers to improve the quality and efficiency of their products and manufacturing before meeting longer-term goals for cost-effective BTB transactions.


The report also found that:


· BTB leaders plan to use private trading networks to monitor suppliers' inventory levels in the next 12 months.


· Sixty-one percent of executives cited closer supplier relationships as a key function of private trading networks.


· Despite their benefits, private trading networks face resistance from corporate users who are concerned about data privacy.


· Thirty-six percent of respondents said concerns over sharing sensitive data with business partners were the main barrier to using private trading networks, while only 24 percent consider integrating existing technology investments a barrier.


Share this article:
You must be a registered member of Direct Marketing News to post a comment.
close

Next Article in Digital Marketing

Follow us on Twitter @dmnews

Latest Jobs:

Featured Listings

More in Digital Marketing

IAB Tech Lab to Set Global Digital Marketing Standards

IAB Tech Lab to Set Global Digital Marketing ...

In looking to solve complex tech issues, the association opens up full membership to agencies and solutions providers.

Integration Meets Innovation in Planters' Digital Campaign

Integration Meets Innovation in Planters' Digital Campaign

The snacks brand found a healthy way to navigate today's world of digital marketing saturation.

USA Today Decides to Play Games for Real

USA Today Decides to Play Games for Real

It partners with game-maker Arkadium to add 60 new digital games to its site, offering advertisers more segmented breakdowns of players.