20 July 2011
Last month’s Marine Electronics & Communications features an article on e-commerce and how ShipServ is at the forefront of development, with an in-depth interview with ShipServ Founder & CEO Paul Ostergaard on why trust is key for electronic transactions.
You can read an extract of the article below:
Trust is the key for electronic transaction platforms
Information verification is a cornerstone of any e-procurement process. Buyers need to be able to trust that suppliers will provide them with quotes, as well as the product they require, while it is in suppliers’ interests to demonstrate their reliability and competitive prices.
One of the major e-procurement platform providers is UK-based ShipServ. Its ShipServ Pages online trading portal recorded nearly 750,000 buyer visits in 2010, and boasts over 35,000 suppliers. More than four million trading transactions were facilitated by the company last year, valued at US$1.7 billion.
Paul Ostergaard, CEO, says: “E-commerce connects buyers and sellers, providing easy access to information. But there is an abundance of information on the Internet, so the biggest obstacle to e-commerce is how to select the information that is relevant to you. If you are running a ship and you urgently need a spare part, you need to be able to rely on ship supplies to be delivered on time and in the right condition. This is why a lot of buyers tend to use the same suppliers. That’s the right decision unless you have the ability to assess the trustworthiness of the supplier.”
ShipServ has features to ensure that the information on its platform is as accurate and useful as possible. It has a suppliers rating and reviewing function, which allows buyers to assess whether a supplier is worth doing business with.