| The World Wide Web has revolutionized the | | | | business endeavors. This helps in creating a online |
| concepts of trade and finance and has literally | | | | free market environment where businesses and |
| redefined the way people purchase and sell goods. | | | | service providers can interact profitably with one |
| One of the landmark evolutions of the recent time | | | | another. Because of the visibility of the deal, both the |
| has been that of Online Marketplaces. Online | | | | parties of the deal have power. Buyers who fail to |
| marketplaces, or e-markets as they are popularly | | | | make payments or service providers who fail to |
| called aim to create efficient platforms to bring | | | | deliver can get negative rankings on the website and |
| together buyers and sellers at a massive scale. | | | | can even be removed from the site altogether. |
| Internet takes a business to a global scale and | | | | Variety of Choices |
| presents it before and international audience. Experts | | | | Everyone like to be in control of things. Online |
| predict that more than 85% of the computer literate | | | | marketplaces offer buyers the luxury of browsing |
| population of the world use the Internet to purchase | | | | through a variety of potential solutions for their |
| goods. Hence, it offers tremendous business | | | | requirements. Buyers can check out several options |
| opportunities for buyers and sellers both. | | | | before making a choice. This gives them a sense of |
| Online market places are excellent venues to find | | | | power and control and they are more convinced |
| potential service providers and sales leads and further | | | | about the decision they make. Also, this make them |
| profitable business endeavors. Let us examine some | | | | spend money more readily. |
| special features and highlights that makes online | | | | Security Policies |
| marketplaces so appealing to the business population. | | | | Because there is huge amounts of cash involved in |
| Buying at the Best Prices | | | | online marketplaces, these portals have strict security |
| Who doesn't like a good bargain? And especially | | | | guidelines and privacy policies. All the information that |
| when you can pick the best out of the lot. Online | | | | is exchanged and all the credit details are secured and |
| marketplaces give service providers and businesses | | | | processed safely. This minimizes the risk of fraudulent |
| an opportunity to strike a great deal with one | | | | transactions and deals and ensures safe processing. |
| another. This is because online marketplaces have a | | | | Extensive Array of Products and Services |
| huge database of service providers which one can | | | | Online marketplaces generally cater to a broad range |
| browse through and select the one that offers the | | | | of industries. There are certain portals that specifically |
| most cost effective rates for the particular services. | | | | cater to certain segments but others generally include |
| Online marketplaces are highly popular in these times | | | | a variety of products and services. All one needs to |
| of recession and credit crunch. This is because people | | | | do is post the requirements and place a Request for |
| are trying to reduce costs and seek the cheapest | | | | Bids and there will be vendors who offer the same |
| rates possible for quality services. Thus they are | | | | and would submit Bids. |
| embracing the services of the Internet. | | | | Online marketplaces create value addition for a |
| Global Pool of Service Providers | | | | business as it facilitates information sharing about |
| Internet is able to extract value from otherwise | | | | products/services and their pricing. It matches buyers |
| unreachable areas. Web based marketplaces act as a | | | | with corresponding sellers and improves the speed |
| global platform where buyers and sellers from across | | | | and accuracy of transactions. |
| the world can come together and further profitable | | | | |