The Internet is enabling small companies to exploit electronic data interchange (EDI) technology and this will push the value of EDI transactions to $3.8 trillion by 2002.
Analyst Giga Information Group says that although the technology has been around for decades enabling suppliers and buyers to exchange invoices, it was considered too expensive for smaller companies because it was based on proprietary systems. However, smaller firms are now able to employ EDI because they can use the Internet as the delivery mechanism rather than pay for expensive leased lines.
"With advances in reliability and security in Internet based EDI, as well as the increasing availability of Internet based managed network services, smaller companies will be able to build or participate in EDI networks," said Giga analyst Ken Vollmer.
As a result, a further two million small companies will begin to use EDI technology within two years, he added. The Net will account for half of EDI traffic, up from just 10 per cent in 1999.
Some 250,000 companies have already implemented EDI networks of their own, with about $3 trillion worth of transactions last year.
Cotton seedling freezes to death as Chang'e-4 shuts down for the Moon's 14-day lunar night
Fortnite easily out-earns PUBG, Assassin's Creed Odyssey and Red Dead Redemption 2 in 2018
Meteor showers as a service will be visible for about 100 kilometres in all directions
Saturn's rings only formed in the past 100 million years, suggests analysis of Cassini space probe data
New findings contradict conventional belief that Saturn's rings were formed along with the planet about 4.5 billion years ago