Benefits and requirements for interoperability in the electronic marketplace

The nature of interoperability and requirements in maximizing its economic benefits when economies are networked are summarized.

Abstract

Economic benefits of interoperability result in lowered production or transaction costs typically utilizing standardized parts or automated processes. In the networked economy, the need for interoperability extends into an entire commercial processes, market organizations and products. This article summarizes the nature of interoperability and requirements in maximizing its economic benefits when economies are networked. Interoperability among partnered organizations and customized products is emphasized. Interoperability in e-commerce layers and intermediate markets requires cooperation among hardware and software producers as well as governments in order to achieve a uniform commerce infrastructure.