Standards

The development of XML as a standard, different though it may still be for various industries, will provide the basis for a completely different and greatly improved level of intersystems connectivity. From now on, XML and future derivations of it will mean that even small suppliers can easily transfer their catalogs, contract terms, and invoices to any buyer directly, cheaply, and securely via the Internet. This will, in many ways, revolutionize the nature of business information transfer. There is little doubt that these standards will eventually fall into place, so what effect will this interoperability have on the e-procurement marketplace?