E-Commerce, Marketplaces & Exchanges
Today there is a universal acceptance of the Internet
and the growing importance of B2B E-Commerce. In fact,
the question now facing many businesses is not when,
but how best to get into E-Commerce and E-Business?
In their eCommerce: B2B Report (February 2001), “eMarketer
forecasts healthy growth in e-commerce in the years
to come, especially in the business-to-business sector.
The meltdown in the once high-flying Internet sector
in the U.S. won’t cause any long term to the New
Economy. Fortune 500 companies and corporate multinationals
have taken the mantle from start-ups that once promised
to revolutionize business, and are investing heavily
in efforts to move their supply chains online”.
Further, according to iSource Business, “digital
marketplaces are here to stay and growing exponentially.
…although the volume of business will grow, the
number of marketplaces will not.” Forrester Research
predicts that eventually “only 181 marketplaces
will be left standing… and four types of marketplaces
will emerge by 2004” These are below in Figure
Buyers are also expanding their use of electronic marketplaces
at a rapid pace, and in a Delphi group study, “50%
of organisations considering online solutions will spend
more than US$ 500,000 on B2B technologies… and
13% will spend more than $1 million to $20 million”.
Buy-Sell Solutions for E-Business
The expectations and requirements of businesses are
varied and many, and we at Fear & Trembling have
tried to offer a way to allow businesses to enter at
the right comfort level - through a cost effective,
highly customisable, easily deployable set of products
and solutions – and to allow for some quick successes!
Our proposed solution begins with Myriad B-B Commerce,
a comprehensive B2B application framework, and our Myriad
Biz family of products offers customisable dynamic buy-sell
components that can be deployed as buyer centric, seller
centric, or even combined together to create a neutral
Myriad B-B Commerce Application Framework
All Myriad Biz products are built on the Myriad B-B
Commerce Application Framework, which provides the platform
and common components on which the functionality for
Myriad BizBuyer, Myriad BizSeller and Myriad BizMarket
Myriad B-B Commerce includes the following core components
This module basically allows the site operator to manage
the registered traders (buyers/sellers/brokers) and
members on the site. It does this via the online registration
of these members through subscription rules, user selected
preferences, and membership or trader categories. There
is also an online secure password management function
in case members lose or forget their password. Other
security features include password encryption, lock
access account, and audit trail logs.
a. Catalogue Management
This allows users to set up a catalogue by defining its
categories and sub-categories. It then allows the catalogue
owner to maintain the catalogue by adding, deleting or
editing the categories.
b. Product Administration
The user can set up and maintain a product, which can
belong to multiple categories. It also includes a function
to feature product(s) by specifying promotion duration.
c. News Publishing
This allows the user to publish news articles, with personalization
features and expiry dates.
d. Advertising Management
The site administrator can upload banners and publish
the banners in the form of advertisements on the site,
together with commencement and expiry dates.
e. Bulletin Board
The site administrator can set up bulleting boards for
announcements, or delegate the authority to moderators
to manage discussions and postings. Postings can either
be real-time, or an approval basis.
f. Personalised Catalogues
Personalised Catalogues allow a seller to create a catalogue
with unique products and with terms and pricing that
are specific to a buyer. Only this specific buyer can
buy these products on the personalised catalogues. Among
the items that can be personalised include products,
catalogue structures and pricing.
The Purchase Order Generator supports the ordering process
of organizations by allowing designated buyers to raise
purchase orders for products or services on catalogues,
or from an RFQ. Upon submission, the order will be routed
through the necessary approval channels in the buyer
organization before being sent to the supplier(s). Also,
the buyer can opt to create a single Purchase Order,
even though the products are from multiple suppliers,
Upon submission, the Purchase Order will then be split
up and sent to individual suppliers, who will each receive
only the Purchase Order for their respective products.
Both buyer and seller can print the generated Purchase
Purchase Orders can be managed at line item levels, which
means that items on a Purchase Order can have different
shipment dates and status. The order management allows
buyers to check on the status of their purchase orders
and access reports on purchase order histories. On the
seller side, this module is used to inform the buyers
of changes in the status of a purchase order. This module
can be linked to a service provider for further collaboration,
even for financial settlements.
- Search Engine
The search engine is multi-parameter and performs product
searches, company searches, news searches, and electronic
trade opportunities searches.
Customised reports are available according to the requirements
of the site operator.
This archiving function allows the site operator/administrator
to archive news, electronic trade opportunities as well
as the ability to search and delete as and when required.
BizBuyer, Myriad BizSeller & Myriad BizMarket
is buyer centric, meaning a single buyer, multiple seller
application suitable for procurement applications. Myriad
BizReverseAuctions allows the buyer to source for products
or services based on the best offer, and can be an extension
of Myriad BizSeller, or a complete stand-alone application.
is a seller centric, meaning a single seller, multiple
buyer application suitable for sales and distribution
applications. Myriad BizAuctions allows a seller to
dispose of excess inventory through an online auction
and can be an extension of Myriad BizSeller, or a complete
is a trading room that integrates basic Myriad BizBuyer
and Myriad BizSeller functionality with additional negotiation,
collaboration and contract management tools to simulate
the real life business process from sourcing, through
to negotiation, and ordering. Myriad BizMarket also
supports the sourcing decisions of the buyers by allowing
them to manage current suppliers, source for alternate
suppliers and products as well as to create scorecards
to rate the suppliers, and supports organizational negotiations
from both buyer and seller perspectives, allowing the
adoption of an RFQ or Response To RFQ module, either
based on a single, or multiple stages RFQ, as well as
a negotiation flow to cater for offers and counter offers,
and also allows for the integration of the negotiation
flow into a Purchase Order or Contract
Development, Business Processes, Workflow & Integration
The family of Myriad Biz products are easily customisable,
and as the Myriad B-B Commerce Application Framework
is business rule driven, it is possible to quickly develop
new and unique dynamic buy-sell components and modules
based on proprietary requirements.
Myriad B-B Commerce also provides a platform for customising
and developing specific business processes and workflow,
and provides an architecture allowing integration to
service providers, marketplaces and existing legacy
Contact us for further information – Post your
Contact us for further information –
Post your query now