Electronic Market and Interorganizational Information System (IOS)

Electronic Market

-Electronic Market- Electronic market is where buyers and sellers negotiate, bargain with each other, agree on the order and if the match finish with conduct transactions electronically. Electronic market is rapidly emerging as a vehicle for running a company. A market (the market) is a network of interactions and relationships where information, products, services, and payment interchangeable. When its electronic marketplace, the business center is no longer in the form of a physical building but rather a one location at a venue for the business interaction networks, a virtual electronic market is an area where buyers and sellers meet. Electronic market handles all required transactions, including transfers of money between banks. In electronic markets, the main participants of the holder transaction, buyers, brokers, and

sellers do not have to be in separate places, they rarely even know each other. Means used interconnection parties too can be varied and can change from event, even among the same though. Electronic market utilizing a common shift from market-centric environment to the customer-centric.

-Interorganizational Information System (IOS)-  Interorganizational information system includes global information systems, electronic data interchange (EDI), electronic funds transfer (EFT), extranets, shared database, integrated messaging and supply chain management. IOS is a flow of information between two or more organizations. Its main objective is the efficient processing of transactions, such as shipping orders, accounts, or payments using EDI technology or extranet. All relationship is predetermined; so there is no direct negotiation and execution (implementation). In contrast, in the electronic market, sellers and buyers can negotiate, bid, agreed to an order, and completed the implementation is through online and offline. Interorganizational information system can only be used for B2B applications, electronic markets are able to present in the case of B2B and B2C

IOS is a unified system that includes a number of business partners. A certain IOS will incorporate a company with its suppliers and customers in a single or a network. Through IOS, the buyer and seller arrange business transactions on a regular basis. Exchange of information occurs through a communications network using a predefined format, so there should be no phone calls, paper documents, or correspondence the company again. In the past, IOS transmitted over the communication link itself held behind closed doors. But now, many IOS switch to the Internet, mostly through the extranet. The term IOS shows the overview of the various business activities, some of which there are used in activities that have nothing to do with E-Commerce.

continues to Type interorganizational information system that is most important.