Details for Business Networks(BNs)
With OpenEntry, business networks (BNs such as chambers of commerce, industry associations, and trade promotion organizations) can provide valuable e-commerce services to their members while generating revenue for themselves. With its pooled resources, competent staff, and high profile, a BN is in a unique position to lead and support its members into the exciting new world of e-commerce much more effectively than they can achieve on their own.
To start, a BN can provide the orientation, training, and technical assistance that each of their members need to create and maintain their own individual on-line catalog. Then the BN can aggregate their members' catalogs into their own branded "metamarket" generating the visibility and credibility necessary for real e-commerce.
With OpenEntry's negotiated contract tool for B2B and referral system, a trade promotion organization can create its own version of www.Alibaba.com, only transactional. A BN can also create its own branded B2C metamarket for vendors with many of the functions of Amazon's Marketplace.
BNs can also guide their members in joining additional metamarkets including the global ones opening as a result of OpenEntry's pending partnerships with worldwide organizations of BNs including the World Chambers Network (www.WorldChambers.com - 14,000 member chambers) of the International Chambers of Commerce and the United Nations' International Trade Centre (www.INTRACEN.org).
OpenEntry is also in discussions with IBM and members of the World Information Technology and Services Alliance (www.WITSA.org) to provide BNs the range of business consulting services necessary to implement all the metamarket features available.
Illustrations of the options for a 1000 member BN launching a metamarket initiative are as follows:
- Handle everything in-house - One full-time, mid-level staff person can promote the initiative to the BN members and coordinate training on building their individual catalogs. He/she can also purchase the accounts in bulk from OpenEntry in discounts of up to 30%. If each of the 1000 members of a BN paid $100 for a basic account and then another $100 for participating in the metamarket, the income to the BN would be $30,000 + $100,000 = $130,000 per year. On top of that the BN could charge for training as well as a commission of the sales generated. This option does not require signing any contracts and returns the most income to the BN if executed properly.
- OpenEntry builds/manages metamarket - Upon signing an agreement for the BN to promote OpenEntry with its members, our staff can contact all them and offer to help them build their individual catalogs and then aggregate them all into a metamarket branded for the BN. We will handle all the billing and administration with the individual members and share the fees from participating in the metamarket. The income to the BN would be $50,000 plus a share of any commissions on sales generated. This option represents the least hassle for the BN.
- Local IT firm manages initiative - Because OpenEntry has so many powerful features, a local IT firm can guide the BN to make best use of their metamarket. Just to give one example, the negotiated contract tool requires inputting an initial contract but a localized specialist would best be able to determing the best wording of the contract for the local context. To ensure the highest quality management consulting services to the BNs, OpenEntry is developing partnerships with IBM and members of the World Information Technology and Services Alliance (www.WITSA.org). This option ensures the most effective final result.
