Perspectives on B2B eCommerce by AndyGueritz

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									                                                  Perspectives on B2B eCommerce
                                                                          Andy Gueritz

                                                                               June 2001




                   Contact:
                   Andy Gueritz
                   +44 (1673) 838150
                   Andy@sixhills-consulting.com




B2B Perspectives                                                            © 2011 Sixhills Consulting Ltd.
  Perspectives on B2B eCommerce
  The traditional Purchasing cycle contains many inefficiencies. Whilst purchasing is often treated as a
  single amorphous cycle, there are actually three distinct cycles: Sourcing, Order Management and
  Payments

   Defining Purchasing
   1. Traditional Procurement Cycle Inefficiencies                                                                                               2. Purchasing – The Three-Cycle Model
                                                                                                                                   Sources
                                                                                                                               of inefficiency



                                                                              Low Value
                                    Inefficient                                Activities                                                                                     Price finding          Negotiation mechanism
                                      Vendor                                                                             Long Cycle                     Selection,            mechanism
                                   Management                                                                               Time                     enhancement of
                                                                                                                                                      supplier base                                              Consequent Negotiations
                                                                                                                                  High Error        Definition of                    Source
         Poor                                                                                                                       Rate              Quality                                                        Global Agreement Database
     Compliance                                                                                                                                    Requirements
      Renegade                                                                                                                                     and Standards
        Buying                                                                              Mailing the                                                                                                                Preferred suppliers
                                                          Writing the order
                                 Phone Purchase                                              Order          Sign-off
                                                                                                                 Receiving                              Purchase                   Sourcing team
                   Select Item                                                                                                                          Management
                                                                                                   Checking Storage in
                                                                                                                                                        • Control                                                      Order Request
                                                                                                     Legacy System                                                                                                                           Approval
                                                                                                                                                        • Monitoring
             Employee Need                                                                                                                                                                               Selection
                                                                                              Supplier Fulfilment
                   Route to Recipient                                                                                                                                                                                                                   Order Placement

                                                                                                   Mailing the                                                                                End-User
                                                                                                    Invoice
                                              Receiving     Sign-off   Deliver Product/Service                                                                                                                          Manage Orders
                                                                                                                                                                        Process                                                                                      Supplier Fulfilment
                                                                                                                                                                       Payment                                Invoice and
                                                                                                                                                                                                                Payment
                                                                                                                                                         Issue                                                                                                  Delivery
                   Payment                                                                                                   Multi-Stage               Payment
                   Logistics                                                                                                  Logistics
                                            Need for
                                           Three-way                            No Seamless
                                                                                                                                                                                  Pay
                                             Match                            Track and Trace                                                              OK-to-pay                               Invoice
                                                                                                                                                                              Reconcile                                        Receipt Confirmation




B2B Perspectives                                                                                                                                                                                                                         © 2011 Sixhills Consulting Ltd                    P1
     Industry „experts‟ have made many forecasts for the potential of B2B e-commerce which may be more or
     less credible. Under any circumstances, business will need to move online to remain competitive

       Electronic Commerce Forecast
       Business-to-Business Electronic Sales (2000–2004)
       $ Billions

                             $0.5 Trillion
                              Yankee
                               Group                                   Gartner
                                              8,000
                       $1.3 Trillion
                        Forrester             7,000
                                                           All Other
                       Research
                                              6,000      E-Commerce

                    $0.5 Trillion             5,000     E-Marketplaces
                      Trillion
                      Jupiter                 4,000

                                              3,000
                     $0.4 Trillion
                        IDC                   2,000

                                              1,000
                          $7.3 Trillion
                           Gartner               0
                                                      2000      2001        2002   2003   2004




                      Source: Gartner Group


B2B Perspectives                                                                                 © 2011 Sixhills Consulting Ltd   P2
     B2B e-Commerce will not deliver its promised benefits for organisations unless substantial challenges can
     be overcome


        Overcoming Challenges to Successful B2B eCommerce

                                                                   Business Model
                                                   • Creating (and sharing) real sustainable
                                                     industry value; driving out microeconomic
                                                     inefficiencies
                                                   • Building trust through appropriate ownership
                                                     structures/partnerships
                                                   • Creating sustainable revenues and profits
                                                   • Negotiating capital structure




                                                                                                                Technology
                       Operational Model
                                                                         B2B                        • Managing systems complexity and
              • Displacing (inefficient) process                    e-Commerce                        layered technology costs
                costs                                                may fail to                    • Surviving the cycle of competing
              • Altering entrenched behaviour                         deliver its                     technology investments
                                                                     promise for
              • Effecting new organisational and                        many                        • Combating resistance to standard
                decision-making structures                          organisations                     communication models




B2B Perspectives                                                                                                                © 2011 Sixhills Consulting Ltd   P3
      Sustaining Sourcing and e-Procurement Savings
     In a recent client example, the value of cost reduction from purchased goods and e-enabled process
     improvements was eight times the savings achieved by process improvements alone

     The Reality of Benefits Promised by e-Procurement                                                                                                    Illustrative
     1. Industry Benchmarks
                                            Transaction                   Cycle                                                                       Cost of
                                                                                                Compliance                 Inventory
                                               Cost                       Time                                                                        Goods
         Traditional /                      $107 per order
         Manual                                                          7.3 days                      70%                      100%                100%
                                              requisition
         e-Procurement                      $30 per order                  2 days                      95%                 20% to 50%               5% to 10%
                                             requisition                                                                    reduction               reduction

                                                                                                                                               Client Example
       2. Annualised Savings Potential
       $ Million
                                 50                  5                 2,525             5                 15             35
              2,470                                                                                                                     250




                                                                                                    8:1 ratio between savings
                                                                                                     from purchased goods                                  2,230
                                                                                                    and process cost savings
                                                                                                      compared to process
                                                                                                        cost savings alone




            Total             Transaction          Current              Total       E-Procurement        Reduced         Reduction      Savings             Final
         Purchased               Cost              System           Procurement         System           Inventory           of           from             Spend
          Expense                                   Cost                Cost             Costs              Cost        Transaction    Purchased
                                                                                                                           Cost          Goods

             Source: International Data Corporation; MMG analysis



B2B Perspectives                                                                                                                                   © 2011 Sixhills Consulting Ltd   P4
     Whilst substantial savings in purchased costs can be delivered by Sourcing, they may erode with time
     unless fundamental process changes are also made. e-Procurement and Sourcing together can offer
     very substantial savings that also sustain over time


               Impact of Timing on Savings
               Expense as Percentage of Original Baseline

                                                                     Savings
                                                                     Implementation costs                     Key Conclusions
                                                                                                   • Sourcing delivers significant short-
                   100%         e-Procurement only savings
                                                                                                     term savings that tend to erode if
                                                                                                     existing manual processes and
                    90%                                                                              behaviours continue, and new
                                                       Sourcing only savings                         processes and contracts do not
                    80%                                                                              take hold within the organisation
                                                      Sourcing and e-Procurement savings           • On their own, e-Procurement
                    70%                                                                              savings tend to be smaller but
                                                                                                     sustain over time
                                                                                                   • Sourcing, in conjunction with
                                                                                                     e-Procurement, delivers lasting high
                          Sourcing and e-Procurement costs                                           impact savings
                    20%
                                                                                                   • Implementation costs are limited to
                                                       e-Procurement costs
                                                                                                     the short-term when sourcing and
                    10%
                                                                                                     e-enablement are undertaken
                               Sourcing costs                                                        jointly

                                  Year 1               Year 2                  Year 3       Time
                                                                                                   • e-Procurement investment needs
                                                                                                     can be wholly funded by savings
                                                                                                     identified from Sourcing in one or
                                                                                                     more categories

               Source: MMG analysis
B2B Perspectives                                                                                                                   © 2011 Sixhills Consulting Ltd   P5
      In general terms categories will move online depending on the complexity of the approval process
      and the relative inefficiency of transaction
          Propensity to Move On-line                                                       Illustrative

           1. Key Drivers Enabling Move On-line                                 2. Category Examples

           Buyer Approval Process Complexity    Can Go On-Line if . . .                                                                                               PCs
                                                                                                                                    Raw materials                                       MRO
           • Product Specification Complexity   • Clear standards exist or                                                        Express mail
                                                                                                                                                                   Software
                                                  can be defined                                                                                                               Light Chem




                                                                                Buyer approval process complexity
                                                                                                                                                            Ag. Products
                                                                                                                                           Retail utilities
                                                                                                                                                                       Standard




                                                                                                                    Simple
           • Vendor Quality/ Service            • Vendor service level                                                            Natural gas      Office              semiconductors
                                                                                                                                                   supplies   Glass Prod's
             /Differences                         criteria are definable                                                                                                  Assembly
                                                                                                                                           Basic chemicals
                                                                                                                                                             Med. Equipcomponent
           • Purchasing Frequency               • Orders frequency is high                                                             Telecoms
                                                                                                                                                                Low-end s       Travel
                                                                                                                                     Pulp and paper             networking      services
           • Perceived Corporate Value          • Relatively unimportant                                                                                        products
                                                                                                                                                                              Fleet
                                                                                                                                                                                Freight
           • Authorisation Process in Place     • Systems are bypassed                                                             Airplanes/locomotives               Training services
                                                  regularly
                                                                                                                                                                            Financial services
           Transaction Inefficiency             Can Go On-Line if . . .




                                                                                                                    Complex
                                                                                                                                                                     Temporaries
           • Information Flow/ Price            • Pricing is bundled and info                                                                Consulting           Advertising
             Transparency                         unclear                                                                                          Mainframes
                                                                                                                                                                    Heavy machinery
           • Number of Supply Points            • Competitors are numerous
                                                                                                                                                     Satellites                 ASICs
           • Number of Purchasers               • (In)direct buyers are
                                                  numerous
                                                                                                                                             Low                            High
           • Distribution Channel Complexity    • Supply chain fragmented                                                                      Transaction inefficiency
                                                  with numerous middlemen
                                                                                Timing of move on-line                                                            Category type
           • Contract Complexity                • Terms are clear/standard                                                    First movers                         Vertical industry (i.e. direct purchases)
                                                                                                                              Second-wave movers
                                                                                                                                                                   Horizontal (i.e. generic
                                                                                                                              Less likely/longer term
                                                                                                                                                                   commodity, indirect
                                                                                                                                                                   purchases)



B2B Perspectives                                                                                                                                                                © 2011 Sixhills Consulting Ltd   P6
     The procurement processes and the proportion of spend under management determine the appropriate
     e-Procurement technology solutions


      Impact of Procurement Process Type on e-Procurement                                                Suitable for catalogue based e-procurement
                                                                                                         Partially suitable


        Generic Procurement Process         Examples          Typical Profile of Spend by Process Type           Observations
           Purchase to specification
          – Simple                   • Office stationery                                                       • Catalogue based e-
            – Complex                 • Electronic                                                                procurement often only
                                         modules                                                                  suitable for purchase for
          Consumption                 • Telecoms                                                                  10–25% of expense base
                                                                                 1%   
                                       • Fuel                                                                     (purchase to spec)
          Recurring Payments          • Rent
                                                                             12% 10%                             • Consumption based
                                       • Insurance                                                                procurement requires
                                                                                       15%
          Supplementary Resourcing    • Temps                                                                     systems to reconcile
                                       • Contract labour              22%                                         expenses (against
                                                                                                                   demand expectations)
          Employee Expensed           • T&E
                                                                                      25%                          after the fact
                                       • Mobile phones                       15%
          Project tender              • Major capital                                      
                                                                                                                • Few useful solutions exist to
                                         equipment                                                                 support supplementary
          Ad hoc                      • Items not normally                                                        resourcing and
                                         purchased                                                                 consumption based
                                                                                                                   procurement




B2B Perspectives                                                                                                              © 2011 Sixhills Consulting Ltd   P7
      Supply Chain Technology Components
     Dedicated technology tools have been developed to support different tasks across the procurement
     and supply chain management process
      Supply Chain Technology Components

                                                                                              Transaction
                                        Content                Strategic Sourcing                                        Logistics                    SCM
                                                                                              Automation


      Description            • Applications/              • Applications/              • Applications/tools     • Applications that       • Applications that
                               databases that               databases that               that enable the          enable the                enable improved
                               combine information          support the strategic        automation of the        completion and            decisions making
                               about components,            sourcing process by          procurement steps        tracking of the           and optimisation of
                               suppliers, designs and       addressing the cost          from requisition to      transaction               the value chain via
                               processes                    drivers earlier in the       order processing and                               e-collaboration/
                                                            value chain and              placement and to                                   sharing of
                                                            enable improved              electronic payments                                information along the
                                                            decisions, e.g. pre-         handling                                           supply chain
                                                            negotiation via
                                                            eRFI/RFQ, price
                                                            clearing (auctions),
                                                            supplier selection
      Examples of            • Catalogue search           • Spending analysis          • Requisition (e.g. via a • Fulfilment             • Project management
      Tasks                    and update                   (baseline)                   catalogue engine)       • Delivery tracking      • Knowledge
                             • Search for an              • Electronic RFI/RFQ         • Order Processing        • Channel optimisation     management
                               equivalent item if a       • Auctions/reverse             (routing of the                                  • CPFR
                               part is out-of-stock         auctions                     requisition for                                  • etc.
                             • Find commonly              • Contract                     approval)
                               purchased items              administration             • Order Placement
                               across divisions of a      • Suppliers risk analysis,     (generation and
                               company and across           consolidation,               send of purchase
                               the suppliers                allocation and               order)
                               landscape                    performance tracking       • Transaction facilitator
                                                                                       • Link with trusted third
                                                                                         party
                                                                                       • Payment clearer
                   Source: Stephens Inc., Firm analysis
B2B Perspectives                                                                                                                                  © 2011 Sixhills Consulting Ltd   P8
     There are numerous technology providers that offer different solutions for specific components of the
     procurement and supply chain management process


        Technology Providers Landscape - Examples
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             Functionality
                                                                          Content                                                                                                            Strategic Sourcing                                                                                                                        Transaction Automation                                                                                                                  Logistics                                SCM       ü          offered
                                                                                   Content Strategic Sourcing                                                                                                                                                                                                                          Transaction Automation                                                                                                              Logistics                                    SCM
             Players                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         Functionality




                                                                                                                                                                                                                                                                                                          Exchange (Dynamic Bidding)
                                                                                                                 Collaborative Manufacturing




                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Transportation Management
                                                                                                                                                                                                                                                Pre-negotiation - RFP / RFQ
                                                                                                                                               Sourcing Strategy Planning
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                  ?




                                                                                                                                                                                                                                                                                                                                                                                                            Payment Transfer of Funds
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             offering




                                                                                                                                                                                                                                                                                                                                                                                                                                        Reconciliation of Invoices
                                                                                                                                                                                                                                                                              Auction / Reverse Auction




                                                                                                                                                                                                                                                                                                                                                                                 Authorisation of Payment




                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                 Warehouse Management
                                                                    Catalogue Management




                                                                                                                                                                                                                                                                                                          Allocation/Performance
                                                                                                                                                                                                                      Contract Administration
                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                             unclear




                                                                                                                                                                                             Supplier Risk Analysis
                                                                                           Component Content &




                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Advanced Planning &
                                                                                                                                                                                                                                                                                                                                        Procurement Engine
                                               Supplier Databases




                                                                                                                                                                                                                                                                                                                                                             Bill Presentation
                                                                                                                                                                            Spend Analysis
                                                                                           Management




                                                                                                                                                                                                                                                                                                                                                                                                                                                                     Scheduling
                                                                                                                                                                                                                                                                                                          Supplier
                                                                                                                                                                                                                                                Engine
                                                                                                                 (Hubs)




                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                         CPFR
             Aeneid Corp.                                                                      ü
             Ariba                                                                                                                                                                                                                                   ü                        ü                           ü                             ü
             B2E markets                        ?                                                                                              ü ü                                                                                                   ü                        ü                                        ü
             Clarus                                                                                                                                                                                                                                                           ü                           ü                             ü
             CommerceOne                                            ü                                                                                                                                                                                                         ü                           ü                             ü
             FreeMarkets                      ü                                                                                                ü                                                                                                     ü                        ü
             Frictionless Commerce                                  ü                                                                                                       ü   ü                                                                    ü                        ü                           ü
             i2 Technologies                                                                   ü                                                                            ü ü                                                                                                                                        ü                                                                                                                                                                                                ü
             Metiom                                                 ü                          ü                                                                                                                                                                                                                                        ü
             Moai                                                                                                                                                                                                                                                                                         ü
             Oracle
                                                                    ü                                                                                                                                                                                                                                     ü ü                           ü                                                                                                                                                                               ü
             PartMinerCSD                                                                      ü                                                                            ü                                                                        ü                                                      ü
             SAS                                                                                                                                                            ü ü




                   Source: Stephens Inc., company websites, industry interviews, Firm analysis
B2B Perspectives                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                                © 2011 Sixhills Consulting Ltd   P9
      B2B e-Marketplaces
     Revenues generated today by financial exchanges (between 1 to 4 basis points of trading volume) do
     not compare well with revenue forecasts for B2B marketplaces. This seems to confirm the hypothesis that,
     in the limit, B2B exchanges will be „pocket money‟ revenue generators with more interesting opportunities
     for the members (buyers and sellers) of any exchanges or communities
     Financial Exchanges – An Analogue for B2B Exchange Evolution?
     1. Evolution of Trading Exchange Technology
                                                              Technology Generation
                                                                    First              Second
                                                                                                                          4. Viable B2B Exchange Business Models?
                                                                                                      High-volume
                                                   Floor-
                                                                 Automatic             Internet       relatively simple
                                                  based
                                                                                                      products                    High
                   Coffee
                   House                                                                                                                                            • Major
                                                                                                      Lower-volume                                                    exchanges
                                                                Telephone              Internet                                                   • Private
                                                                                                      more complex                                  exchanges/
                                                                                                      products                                      auctions
                                                                                                                              Liquidity
    2. Revenues from Exchanges and                               3. Trading Volumes and Revenues
                                                                                                                                                                 • Bilateral
    Alternative Trading Systems                                  Proportions Exchange Traded Equities &                                                            Negotiation
                                                                                                                                             • Existing
    1999, $ Million                                              Bonds                                                                         Telephone           systems
                            100% = $9.2 Bn                       $ Trillion; Basis Points                                                      markets
                                                                                                   $82Tn
                                                                                                                                  Low
                                                Derivatives
          Derivatives -                                                                                                                   High                               Low
                                                   - Non-                                                                                    Specialisation/Product Complexity
           Financial              675            financial                    $34Tn                        $10Tn
                            672
                                                                                                                   4bp
                                                                                       1bp
                                         Equities
                                          3,830                             Exchange                Non- Exchange
                            Bonds                                            Traded               Exchange Traded
                            3,977                                                                  Traded
                                                                               Equities                    Bonds



               *     Gartner forecast $2.8Tn of $105Tn global sales transactions through e-Marketplaces ($7.8Tn from B2B);
B2B Perspectives        Source: Firm analysis                                                                                                         © 2011 Sixhills Consulting Ltd   P10
      e-Enabled Supply Chain Management

     An e-enabled supply chain could support various forms of collaboration across the supply chain, from raw
     component supplier through to consumer. There are still, however, substantial implementation issues


     Collaborative e-Commerce (c-Commerce)


                                                                                                  Potential Advantages
                      Component
                       Supplier                                                                   • Near real-time information accessibility
                                                                                                  • Richer information exchange
                                                                 Manufacturer                     • Greater trust and shared knowledge
                      Manufactur
                         er                                                                       • Many-to-many parallel workflows
                                                                                                  • More accurate forecasting
         • Mail

         • Fax                                 Component           ERP II EAI              End    Issues
                       Distributor                                XML BizTalk
                                                Supplier                                   User
         • Phone                                                                                  • Can common standards be agreed?
                                                                                                  • Is a common backbone possible or will
         • EDI                                                                                      there be an explosion of interfaces?
                         Retailer                                                                 • What are the risks of greater
                                                           Distributor          Retailer
                                                                                                    collaboration?
                                                                                                  • Will cultural attitudes keep up with
                                                                                                    technology enablement?
                        End User
                                                                                                  • How will potential savings be shared?




                   Linear Supply Chain                      Non-linear Supply Chain
                                                       Basis for Collaborative Interactions


                   Source: Aberdeen Research
B2B Perspectives                                                                                                          © 2011 Sixhills Consulting Ltd   P11
     In order to evaluate the benefits of collaborative e-commerce, such as CPFR, a view of current total
     supply chain costs is needed


     Understanding total supply chain costs                                             FMCG Example
     Percentage of total supply chain costs
     Percent

                                                              Operating profit    4%

                                                                        SG&A      21%

                                                              Operating profit    5%
                                                              Admin expenses      11%
                                           Other distribution and selling costs   9%
                                                   Advertising and promotions     10%

                                                            Other cost of sales   11%


                                              Raw materials and packaging         28%




                   Source: Firm Analysis
B2B Perspectives                                                                               © 2011 Sixhills Consulting Ltd   P12
      e-Payments
     Whilst substantial efforts have been made to address opportunities in e-Procurement, the payment
     methods offered remain quite limited (typically purchasing card). Significant value is locked up in the
     settlement process which could be released by new electronic solutions
     e-Payments Solutions

       Buy-side                              Source                                 Procure                                  Pay



                                                                       • EDI                                  • BACS                                 •Many invoices
                                                                                                                                                      are low in
                                                                                                              • Credit cards/p-cards                  value
                                                                       • e-Supply Chain                       • Direct settlement*                    compared to
       Intermediary           • e-Marketplaces
                                                                         Management                           • e-wallets**                           cost of
                                                                                                              • EBPP**                                processing***
                                                                                                                                                      (often 10% of
                                                                                                              • BACS/Direct Debit
                                                                                                                                                      value)
                                                                                                                                                     •Postage is a
                                                                                                                                                      substantial
                                                                                                                                                      component of
       Sell-side                                Sell                                  Fulfil                              Collect                     the cost of
                                                                                                                                                      processing
                                                                                                                                                      invoices
                                                                          • Online Credit checks              • ACH
       Missing                       • Buyer & seller
                                                                          • Payment guarantees/               • Wire transfers
       Online                          authentication
                                                                            trade finance                     • FX
       Components                    • Online Credit checks               • Risk management                   • Electronic cheques

              * Very limited
             ** Mostly B2C
            *** A recent client example showed that for a spend of $1.5bn, approx 50% of invoices were for less than $100 (average cost to process = $9.59)
B2B Perspectives                                                                                                                                  © 2011 Sixhills Consulting Ltd   P13
      Moving to Action
     There are a number of specific actions clients may take to qualify and act upon B2B e-Commerce
     opportunities
     Maximising the potential of B2B e-Commerce
                             •   Develop partnership strategy (understand where real value is, or can be, created
                                 with partners e.g., in private marketplaces)
             Digital         •   Evaluate and prioritise new e-business opportunities rigorously and critically (look for
          Marketplaces           explicit economic ROI)
                             •   Join beneficial industry or mutual groupings/utilities (e.g., that will generate
                                 long-term economic benefits)
                             •   Develop combined Strategic Sourcing/e-Procurement strategy (“e-Purchasing”)
                                 down to category level plans
                             •   Consider outsourcing options (e.g., for high-volume commodity categories)
           E-Purchasing      •   Evaluate and develop business case for appropriate category-specific e-
                                 Procurement technology solutions based on value and volume of expense base
                             •   Implement category-specific Strategic Sourcing initiatives (inc. organisational
                                 change) to reduce cost and fund e-Procurement implementation

                             •   Evaluate economic benefits of collaborative, network partnerships (esp. where
                                 significant value accrues)
            e-Enabled        •   Review/develop channel development strategy (e.g., B2B2C opportunities with new
           Supply Chain          players)
                             •   Evaluate opportunities (e.g., technology driven) to optimise revenues and costs
                                 across all channels (buy-side and CRM/supply-side)
                             •   Implement valuable revenue enhancement and cost reduction initiatives
                             •   Bank: Develop B2B banking product strategy (review/develop segmentation,
                                 product portfolio and current assets)
                             •   Develop secure IP-based payments infrastructure (consider partnerships with
            e-Payments           technology providers)
                             •   non-Bank: Understand current costs of invoice processing/payments
                             •   Evaluate and implement initiatives to leverage technology developments to
B2B Perspectives
                                 reduce overall payments costs                                          © 2011 Sixhills Consulting Ltd   P14

								
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