IDC Research - Online Commerce Procurement to Skyrocket:  research from IDC shows that Web based procurement is  growing exponentially with a compound annual growth rate of 105  percent.
Even in a down economy businesses will still increase their online expenditures. Why? Efficiency and cost savings. The development of on time inventories and procurement mean that businesses do not pay interest on unused supplies. E-commerce increases profits by cutting expenses, and in a down economy, there is even more reason to be online.According to the report, projected savings from Internet commerce  procurement will surpass $103 billion on transactions totalling  $1.375 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.

The online industry doubles in size every year, according to IDC.  IDC expect that the market, which was worth $147 million in 1998, will be worth $5 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. 

Can you compete with online suppliers? Can companies that use the internet to buy find you?