A survey undertaken for the firm shows that although still in its infancy, the e-procurement market has massive potential and is set to double by the end of 2001. At present only about five per cent of companies’ spending is with online suppliers.
By 2001, 62% of all companies expect to be conducting as much as a third of their spending with suppliers electronically.
More than a third of the 400 European businesses polled cited issues surrounding online security as undermining the trust between their companies and their trading partners, thereby holding them back from doing more business online.
‘On the face of it this is good news for the bricks-and-mortar companies and bad news for the dot.coms,’ said Chris Potter, PwC partner responsible for e-business risk management and security services in the UK.
‘In the virtual, online world, trust will have to be redefined and the physical world aspects replaced by the use of digital certificates, web seals and risk management processes to secure the electronic relationship.’
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