Did the burst of the dot.com bubble signal the demise of the e-economy?
If you’re not in the game now is it too late to join? And is e-business itself little more than the latest management fad?
Three valid questions with three very simple answers: no, no and no.
And that’s why Accountancy Age is publishing an eight-week series on the subject. E-business matters to every business. Prepare for the new economy or you will be left behind.
Of course there are fears, not least cost and uncertainty. There is plenty of both in the new economy and no other words strike such fear into the hearts of finance professionals.
Then there is security, again a real concern. But there is a proliferation of sites tackling these concerns. From the Consumers Association to the English ICA to PricewaterhouseCoopers, there is no shortage of organisations looking to provide online security.
Still not convinced? Probably the most compelling reason of all to engage was announced by British Airways earlier in the year. Unveiling plans to join an industry-wide electronic aviation trading exchange, BA said a move online would save £180m. But crucially BA said the move would enable it to slash its supply chain from 14,000 to 2,000 suppliers by March 2002.
The longer-term implications were clear. Do it our way – online – or don’t do it at all.
Over the next eight weeks we will seek to allay fears surrounding the new economy and report on accountants already seizing opportunities themselves.
This week we talk to QXL’s Robert Dighero, one of the most experienced e-business FDs. We also explain, with Andersen Consulting’s help, the fundamental differences between the old and new economies.
Make no mistake: the rules of the game have changed. Once and for all.
New growth opportunities in Aberdeen, North East Scotland, are being invested in by Grant Thornton
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