April 2000

Trends and Resources

HP Impact: HPImpact: Electronic procurement transactions to grow

Worldwide shipments of e-procurement solutions (ePS) software are forecast to grow 10 times their present size. At $243 million in 1999, shipments are expected to reach $2.2 billion by year-end 2004. ..

Weirauch, Wendy, Hydrocarbon Processing Staff

Worldwide shipments of e-procurement solutions (ePS) software are forecast to grow 10 times their present size. At $243 million in 1999, shipments are expected to reach $2.2 billion by year-end 2004. That's a cumulative average growth rate of 55%, says a recent ARC Advisory Group outlook. Business-to-business (B2B) e-procurement is the "killer application" for the commercial use of the Internet. Given the number of benefits these applications offer businesses, organizations may not survive if they do not invest in them, according to ARC. E-procurement solutions simplify e-business transactions between companies, making this kind of application crucial to the success of B2B e-transac

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