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To: allen v.w. who wrote (23848)	8/30/1999 3:54:00 PM
From: allen v.w.	Read Replies (2) \| Respond to of 40688

Online Commerce Procurement to Skyrocket Aug 26 1999: A new piece of research from IDC shows that Web based procurement is growing exponentially with a compound annual growth rate of 105 percent. The industry doubles in size every year, according to IDC. IDC expect that the market which was worth USD147 million last year will be worth USD5 billion by 2003. Increasingly individuals are learning that Web-based procurement is significantly more cost effective than traditional means. As a result more companies are turning to the Internet to buy goods and services from their suppliers and trading partners, placing orders on everything from office supplies to safety equipment to temporary personnel. According to the report, projected savings from Internet commerce procurement will surpass USD103 billion on transactions totalling USD1.375 trillion by 2003. The amount of people who are using online commerce procurement applications will explode from from 600,000 in 1999 to 250 million by 2003.