Senior executives from across the e-business industry, including Cap Gemini Ernst & Young and the Oracle Corporation, said that business-to-business internet exchanges could drive profit for both the financial sector and its business customers.
The business-to-business call came as Britain’s £6.5bn electricity market today started its first online trading with the launch of the UK Power Exchange or UKPX in London.
Exchange portals – also known as horizontal exchanges – offer companies with otherwise disparate purchasing systems a common trading site and a supply chain streamlined via the internet.
Vice president Roger Camrass of Cap Gemini Ernst & Young said: ‘Financial organisations are ideally placed to take advantage of the rise of horizontal exchanges’.
He argued that financial sector organisations should use internet-based exchanges as a further service to customers spanning across industry.
‘These relationships can become the potential customer base for exchanges, regardless of what the customers core competency is,’ he added.
If businesses do not take cyber security seriously in their business planning regulators may do it for them, the ICAEW has warned
The Financial Reporting Council has issued guidance regarding the annual reporting of 1,200 large and smaller listed companies. The letter highlighted the key issues and improvements that can be made in the 2016 reporting season
Deloitte's north-west Europe foray; BDO, Smith & Williamson investment paths; Shelley Stock Hutter; and Wilkins Kennedy discussed by editor Kevin Reed on our Friday Afternoon Live broadcast
Company bosses are considering relocating operations or headquarters away from the UK following the country's decision to leave the European Union