Trust element in e-Marketplaces

Intangibles exist when enterprises adjust from traditional to a relatively modernized route via e-Marketplaces. Those familiar with the question, "Why bother when it ain’t need fixing?" are often classified under the "resistant" category, and view changes as more of a "nuisance" vis-a-vis their decade-old procedures. Skeptics, as the term suggest, are those who end up undecided in merging the old and the new, and become more inclined focusing on the "cost of adoption." They typically muse to themselves, "This might cost me my job," neglecting the basics of having to put an enterprise’s survival to the fore. The more responsive, on the other hand, would say, "The only element constant throughout the growth process is change." Those grouped under this class are becoming valuable assets in the decision-making process, confronted by the reality that competition is already shaping business deals across the globe.

Changes happen in all enterprises. These are often attuned to commitments given to customers, shareholders, business partners/suppliers, the government, and employees, among other entities. At the end of the day, core earnings are driven by productivity, and those quick enough to further improve operating cash resources are more primed to survive the race. To others, the task might look cumbersome. The truth is, more and more enterprises have gone fast enough to embrace the benefits of adopting e-commerce early on to their growth phase, and have had more time to concentrate on bigger components within the business. "Competency outsourcing" is fast becoming a buzzword embraced by key owners, to simplify the way transactions are done, especially administrative-related tasks. Those assigned to implement commitments, however, face the intricate job of having to carefully strike a balance when policies need to be fine-tuned, as these create a bearing on the entire decision-making cycle. It takes a "special eye," therefore, to take on a larger frame, especially when leaders make their call for "responsive" methods of responsible technology adoption.

Adjustments, however, can be a "win-win" proposition, both for technology users and invited participants. The key here is taking on calculated risks when procedures must be elevated to a higher plane to get things moving forward. Leaders have stepped up to the challenge of having to expand their markets, and consequently relationships across the board. Within e-Marketplaces, emphasis is made on transparency to bolster "trust" within preparation, supplier-partner selection and awarding procedures. Important parameters are defined and validated via exchange functionality references, all geared toward ensuring integrity in the business dealing process. In turn, checks and balances are firmly supported when compliance procedures are validated – aspects that are starting to gain ground within the corporate governance loop.

Essential parameters help purchasers gain confidence, especially in intricacies tied to the request for quotations. These include references to item specification, uniformity in communicated terms and conditions, accreditation, behavior monitoring by virtue of price setting, e-payment infrastructure support, and adoption of "balanced" scorecard system, among other things. Detailed item specification, for one, assists the decision-making process by properly pinpointing those that could readily be traded off, pegged on the degree of importance for the end-result items and/or services.

Since trust is not earned overnight, the enterprises’ evolution within e-Marketplaces is likewise honed through time. Majority of those participating in e-Marketplaces have proven that the benefits far outweigh perceived risks, and several of them have already succeeded with greater cost savings and improved topline through active participation. Bolder steps toward this endeavor start from positive decisions, reinforced by firm commitment to take responsive actions.

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Mariflor P. Santos is the senior e-Marketplace administrator of SourcePilipinas.com Inc. For comments or queries, e-mail her at [email protected]