Business processes are being re-designed so that they cross well into the information age. We see many examples of processes that span the entire company and even processes that are owned and operated by the company and its customers or suppliers. Electronic commerce is a means of enabling and supporting such changes on a global scale. It enables companies to be more efficient and flexible in their internal operations, to work more closely with their suppliers, and to be more responsive to the needs and expectations of their customers. It allows companies to select the best suppliers regardless of their geographical location and to sell to a global market.
Electronic commerce is technology for change.
Companies that choose to regard it only as a nuisance to their existing ways of doing business will gain limited to no benefits. Major benefits will accrue to those companies that are willing to change their organizations and business processes to exploit the opportunities offered by electronic commerce. Over the next two years it is expected that the echeck will be thoroughly tested and business practices refined so that it can be offered to consumers and businesses of all sizes. The electronic check is used to process electronic payments and deposits on the Internet. Modeled after the paper check, electronic checks use digital signatures, digital endorsements and digital certificates to authenticate the payee, payer, and the payer's bank and account information.