| Business to Business (B2B) portals are the most | | | | feature of any popular B2B is the Forums. They |
| sought after international trading tool in the world. | | | | provide inputs required for international trade through |
| After the dotcom bubble burst the Information | | | | views and experiences exchanged by various traders |
| Technology industry was in the doldrums. The | | | | from different countries. Such exchanges empower |
| interest in IT related business showed a downward | | | | the trader with the knowledge of going about in the |
| trend and then emerged B2Bs with its total solution | | | | new markets. Moreover in the process they de-risk |
| to international trade. B2Bs give the trader the liberty | | | | themselves from the dangers of entering new |
| to do business by lowering one's expenditure. | | | | markets through the inputs drawn from those active |
| Prior to B2B portals, there existed an interface in the | | | | Forums. |
| form of brokers. Brokers helped to weld business | | | | Unfortunately, most of the B2B services are used by |
| relationships with every trader with one another | | | | Small and Medium Enterprises and surprisingly, B2B |
| across the world. But some of them evolved as | | | | portals too are inclined to enlist companies of this |
| middlemen one cannot do away with in international | | | | category. Interestingly, large businesses can |
| trade due to various reasons. In such an event, | | | | substantially bring down the expenditure they incur |
| these brokers virtually held international trade to | | | | on advertisements and new market exploration by |
| ransom. Consequently, in addition to international | | | | availing the services of B2B portals. So far, B2B |
| trade barriers a trader also had to carry the burden | | | | services have only caught the imagination of young |
| of exorbitant brokering charges. This in turn reflected | | | | international traders. But those reluctant to utilize the |
| on the prices of the products or/and services | | | | services are traders who find it difficult to break |
| provided by them. The cumulative effect on the | | | | conventions. But it should be remembered that |
| prices of the product or/and services made them | | | | registering in a B2B will not cost much and learning |
| unattractive in international market. | | | | the functions of leading B2Bs are not complicated |
| The combined effect of globalization and B2Bs | | | | either. |
| enabled businesses to interact effectively. B2Bs did | | | | It goes without saying choosing the right B2B portal |
| not try to eliminate brokers rather made them | | | | or portals is of paramount importance. If one does |
| charge their clients realistically. As a matter of fact, | | | | not take meticulous care in registering, one may turn |
| today even brokers utilize the services of the B2Bs, | | | | a detractor of B2Bs. Important things one should look |
| and eventually have reduced cost of finding new | | | | out for are- user friendly features, list of companies |
| clients. The B2Bs enabled the brokers to provide their | | | | related to one's business, collaboration of the portal |
| services to a large number of traders cost | | | | with leading organizations for various subsidiary |
| effectively. Thus B2Bs virtually became an | | | | services correlated to B2Bs, contact information with |
| indispensable trading solution to one and all. | | | | genuine postal address and land line phone number |
| B2Bs success lie in its simplification of the trading | | | | and foolproof payment modes. Hence, B2Bs used in |
| needs by spending less time and money. In a glance | | | | right earnest can become a gold mine for international |
| they may seem like an interactive database of | | | | trade. |
| exporters and importers. But the most attractive | | | | |