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40% OF B2B MARKETPLACE USERS CONCERNED ABOUT SECURITY OF FINANCIAL DATA

Posted on March 18, 2001

      Security is one of the most crucial factors in offline business and its quickly becoming just as important within B2B marketplaces, a new study from Zona Research shows.

      The Redwood City, Calif. consulting firm says the issue touches most business processes and comes in many forms: authorizations for members, buyers and seller credentials, digital IDs, secure payment mechanisms, digital receipts and archiving, and secure messaging.

      To gain a sense of how secure B2B marketplace users feel, Zona recently surveyed 104 professionals in order to rate their level of concern for company financial data residing at a marketplace.

      More than two in five rated themselves somewhat or extremely concerned, while less than a third said they were neutral on the subject.

      Slightly less than a quarter were somewhat or not at all concerned.

      "Clearly, security is an issue that is on marketplace members mind," says Zona. "On further scrutiny of the survey data, we observed that smaller firms were marginally more concerned about security rather than (large) enterprises. This was contrary to our expectations, since enterprises are typically more cautious since they also have more to lose.

      "Offering sound security measures can be a powerful tool that marketplaces can use to attract and retain users", Zona concludes.

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