IDC Says Transactional Security Is an Essential eBusiness Enabler
FRAMINGHAM, MA – FEBRUARY 26, 2001 – Transactional security is quickly becoming a key infrastructure enabler of ebusiness. According to IDC, ebusinesses’ needs to reach new customers, entice them to touch their Web site, and retain them after the products have been purchased will drive worldwide transactional security revenue from $128 million in 1999 to $3.3 billion in 2004.
"Transactional security is more than just insurance; it's an ebusiness enabler," said Chris Christiansen, vice president for IDC's Internet Infrastructure and Security Software program. "To that end, the critical path for a transaction involves both authentication and payment. When a new customer comes to a merchant's Web site, the transactional security infrastructure must be able to establish the new customer's identity to an acceptable level of certainty/risk, issue a credential, download the necessary client software, and allow the customer to begin purchasing goods and services. And this must be done all within three to five minutes."
In addition to creating an infrastructure that can improve trust for Internet transactions, transactional security can also reduce costs to merchants and improve customer service and order fulfillment. "Trust is created using the highest level of security while costs are kept low by maintaining compatibility between the systems employed by the merchants and customers’ financial institutions, or by reducing time-consuming manual processes," Christiansen said.
If transactional security is utilized to close the gap between risk and opportunity, IDC believes ecommerce could become even stronger than it currently is.
IDC's new bulletin, Transactional Security = eBusiness Enablement (IDC #B23895), examines secure transactional services and looks at how customers have expanded their view of security from an insurance policy against threats to a key infrastructure enabler of ebusiness. Three case studies are presented. These studies show the benefits of transactional security for corporations and their customers.
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IDC is the foremost global market intelligence and advisory firm helping clients gain insight into technology and ebusiness trends to develop sound business strategies. Using a combination of rigorous primary research, in-depth analysis, and client interaction, IDC forecasts worldwide markets and trends to deliver dependable service and client advice. More than 700 analysts in 43 countries provide global research with local content. IDC's customers comprise the world's leading IT suppliers, IT organizations, ebusiness companies and the financial community. Additional information can be found at www.idc.com.
IDC is a division of IDG, the world's leading IT media, research and exposition company.
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