Benefit Area Improved Organizational Performance and Reduced Transactions Cost Details of Benefits Resulting from Improved Cybersecurity ■■ Lower costs due to improved efficiency of transactions ■■ Lower cost leads to an increase in the number of firms in the market ■■ Provides avenues for firms to enter into the business-to-business and businessto-government global supply chains ■■ Easier marketing of agricultural products and local sourced goods in the global market ■■ Reduction of search costs as buyers and sellers are together in a single online trading community ■■ Reduction in the costs of processing transactions (e.g., invoices, purchase orders and payment schemes), with the automation of transaction processes ■■ Efficiency in trading processes and transactions as sales can be processed through online auctions ■■ Online processing improves inventory management and logistics Promote AntiCorruption in Government and Industry ■■ Increase in price transparency as the gathering of a large number of buyers and sellers in a single e-market reveals market price information and transaction processing to participants; the publication of information on a single purchase or transaction makes the information readily accessible and available to all members of the e-market ■■ Increased price transparency can exert downward pressure on price differentials in the market; buyers are provided much more time to compare prices and make better buying decisions ■■ Expansion of borders for dynamic and negotiated pricing wherein multiple buyers and sellers collectively participate in price-setting and two-way auctions; prices can be set through automatic matching of bids and offers; the requirements of both buyers and sellers can be more easily aggregated to reach equilibrium price levels, which are lower than those resulting from individual actions A More Competitive Business Environment ■■ Trade liberalization as cross-border transactions costs decline ■■ Resolution of patent issues: international programs will contribute to achieving harmonized patent protection for progress and developments in secure transactions ■■ Enhanced public welfare through improved access to online goods and services ■■ Greater social cohesion as wage and income disparities lessen due to improved communication and information sharing, i.e., a better functioning labor market ■■ More options for consumer transactions (more, reliable distribution channels) ■■ Lower transactions costs ■■ Lower prices in longer term Transparency and Efficiency in Government 10 ■■ Expedited government financial transactions enabling greater efficiency and expediency in resource allocation ■■ Improved communications February 2014