To: bob who wrote (13060 ) 1/19/2000 9:04:00 AM From: Bipin Prasad Respond to of 19080
International Software Cos Extol Merits Of E-Commerce SINGAPORE (AP)--Executives from major international computing and software companies said Wednesday that electronic commerce is set to skyrocket and governments need to keep up with the trend. "We're looking at half a billion Internet users in 2003 - that's half a billion potential e-commerce users worldwide," said Louis McElwain of the California-based computing and software giant Cisco Systems Inc. (CSCO). He predicted global e-commerce revenue would total nearly US$1 trillion by 2002. "Those that figure it out (e-commerce) will be extremely successful. Those that don't will be left behind," McElwain said. McElwain, who directs Cisco's operations in Southeast Asia, was one of five speakers at a meeting on electronic commerce initiated by the Singapore-based American Chamber of Commerce. E-commerce, or the business of selling goods and services via the Internet, will save time, space, and money, and give clients a wider choice, said Kok Cheng Neoh of the Dutch software company Origin. "E-commerce gets rid of constraints," said Neoh, who is chief executive for the Asia-Pacific region. Frank Koo, regional business director for e-business at Oracle Corp. (ORCL), said if governments want to avoid losing tax revenues, they will have to keep up with global online services. As an example, he said that if Singaporeans buy books online at Amazon.com, that means less sales for bookshops and less tax revenue for Singapore's government. Oracle, based in California, provides database software. It is the world's second-largest software company after Microsoft Corp. (MSFT). Other speakers at the meeting were from U.S computer giant International Business Machines Corp. (IBM) and Singapore-based iDS Systems.