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Don't forget e-business: Forfas warns

12-08-2002 12:16pm

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http://www.onbusiness.ie/2002/0812/forfas.html

The industrial development body, Forfas, has warned that the downturn in the world economy should not be allowed to lead to complacency on e-business adoption by Irish Government and business.

A new report by the agency says Ireland has made significant progress, but adds that competitor countries are continuing to implement new initiatives to improve the business environment for e-business.

Despite the economic slowdown, Forfas quotes figures estimating worldwide e-business revenues of €2.4 trillion by 2004.

It says e-business has the potential to enhance competitiveness through increasing productivity, reducing the costs of production and distribution, pushing up levels of management efficiency and ensuring greater access to new markets.

The report says firms that use e-business effectively can generate revenue increases of up to 20% and cut costs by up to 45%.

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