Established "blue chip" companies have a head start over Internet startups in the ecommerce race, according to a report.
According to a report by market research company Killen & Associates, the key to their leg-up in the ecommerce race is electronic bill presentment and payments.
"Having the customers' eyeballs is almost half the battle," said Michael Killen, president of the research firm. "The long-established utilities, telephone companies, and financial services companies already have the perpetual attention of the client via the monthly bill".
Blue chip companies are uniquely positioned to quickly generate electronic commerce, explained Killen. "The key now is to issue electronic bills and leverage their content through advertisements that cross and up-sell customers every time the customer clicks the "Buy" icon, the company's electronic commerce revenue increases."
By 2003 it is estimated that 40,000 of the 100,000 services companies in the US will issue bills and receive payments from consumers via the Internet. Europe will not be far behind.
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