UK online business trade to hit £300 billion in 2005, but firms lack business-to-business (B2B) capabilities to seize theopportunity according to a new report from internet consultant group, Forrester Research.
For the report "Bridging the B2B Capability Gap", Forrester spoke with senior eBusiness executives from 50 UK-based firms with mean annual turnover of £800 million.
Interviewees invested an average of £2.5 million in B2B projects in 2000, and 60 per cent of those responding expect this spend to increase by 2002.
"In 2005, UK online business trade will pass £300 billion and eMarketplaces will facilitate 41 per cent of these online transactions, but many firms will move too slowly to capture the benefits of online trade," said Forrester Analyst Mr David Metcalfe.