Top UK businesses are acting like "electronic ostriches", according to a report on billing and Internet commerce.
The report, which targeted senior marketing managers at 200 top UK companies, found that one in six companies do not use the Internet at present, while less than one third of companies have transferable systems for international trading.
The research also found that only one in 10 companies appreciate that billing, multiple taxes and currencies will be the key to success for international-enabled commerce.
John Rainger, managing director at Kenan, the firm which commissioned the research, said: "There are too many chief executives with their heads in the sand hoping that issues such as billing, tax and international currencies will go away. They won't."
But Anne Wine, MD at AVSI, a firm of electronic commerce consultants, countered: "Why reinvent the wheel? Credit card companies already have a practical payment method which includes foreign exchange facilities."
To obtain a copy of Internet Enabled Commerce: Can UK PLC Catch the Wave? call Abacus on 01276 675566.
Could be used for everything from search-and-rescue robots to wearable tech
Don't require the rare material being mined from the mountains of South America
IBM hopes that its new tool will avoid bias in artificial intelligence
Found by calculating the strength of the material deep inside the crust of neutron stars