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Article: Electronic Data Interchange and Electronic Commerce: The Future of Appraising.
- Article from:
- Appraisal Journal
- Article date:
- October 1, 1999
- Author:
CopyrightCOPYRIGHT 1999 The Appraisal Institute. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Thanks to such vehicles as intranets and the Internet, electronic data transfer has been adopted by a growing number of industries, including manufacturing, health care, insurance, and retail establishments. Such information previously required a paper trail. The primary reason these industries have embraced this technology is due to the large volume of business-to-business transactions (e.g., purchase orders). The elimination of paperwork dramatically reduces the cost of a transaction by as much as 20 times.(1) The savings guaranteed through the electronic transmission of information are so substantial that many organizations are charging significant penalties for ...