To succeed in the new economy, it is imperative for businesses to implement strategies that delight customers, respond to market developments at unprecedented speed and compete around the clock.

While true success has yet to be proven, the company that doesn't implement an e-commerce initiative will more likely than not be left behind. New business models have emerged, combining a high-performance technical strategy with innovative supply chain applications to deliver a competitive edge.

The Internet has blurred the line between a virtual company and a brick-and-mortar business. Retailers are able to sell an infinite array of goods and services to the widest possible audience. Customers too can access a myriad sources for information to make informed and "enlightened" choices in this new world of electronic commerce.

But increased knowledge also results in diminishing product differentials, and sellers are forced to maintain an ongoing presence and look for new ways to market their products/ services.

Enter the world of online auction services

Companies must reshape traditional practices and processes to meet new market demands. With the nascent of e-commerce, we will also see a fundamental shift in business dynamics. Market-clearing prices will become the norm as prices begin to reflect real-time supply and demand.

That is why companies are turning to business auctions as an efficient and flexible sales channel.

In line with the new nonstop Digital Age, online auctions offer real-time electronic bidding in a virtual environment where buyers and sellers may interact 24 hours a day, seven days a week.

Already, companies have begun using such auctions to sell surplus inventory or commodities like energy and electric power, without resulting in a substantial loss of revenue . . .and sometimes even with a profit. Forrester Research predicts that sales from Internet business auctions will soar to a high of US$52.6 billion by 2002, possibly even overtaking consumer-oriented auctions.

The InterAuct! Advantage

As the first company to receive the National Science and Technology Board of Singapore's Business Angel Fund, InterAuct! manages the island's first person-to-person online auction site. Founded in 1998, the site now boasts a membership of 26,000, with approximate 3,000 items available daily for auction.

InterAuct! offers a effective way of reaching the widest customer base with minimal efforts. By leveraging our core competence in the administration and management of auction sites, InterAuct! is able to develop service sets that cater to the broad spectrum of auction types.

For an auction site to be successful, it needs a customer base that is significant in size and quality. InterAuct! understands the need to establish a secure and reliable environment, where buyers and sellers have confidence in undertaking transactions, regardless of market segments. We have also successfully implemented customer loyalty programmes to ensure a critical mass of repeat buyers and sellers.

With InterAuct!, our clients enjoy an unfair advantage over their competition.

Get your kind of customers

Imagine being able to maximise your profits by selling your products to all customers at every price point along the demand curve. With InterAuct! auction services you can!

By transacting through an online auction, companies are able to embrace a variable pricing strategy and leverage market forces to sell their goods/services ñ at the highest possible price that the consumer is willing to pay.

InterAuct!ís segmented customer database facility also allows companies to develop one-on-one marketing campaigns specifically targeted at potential buyers with the highest propensity to purchase.

Total business solution ñ total support

InterAuct! helps businesses be more competitive. By providing end-to-end online auction management services, from operations to management and administration, we offer a plug-and-play solution that is readily assimilated into any existing website strategy.

Because of InterAuct!ís technical expertise and in-depth experience in managing Singapore's largest online auction site, our clients don't have to be experts in auction services to reap the benefits of online auctioning.

Our proprietary technology allows you to customise each auction site to suit your individual requirements, thereby presenting a highly flexible, scalable and effective means to maximise business profits with minimal investment. Once implemented, the solution is self-sufficient, and gives your return on capital the potential to increase exponentially.

While it's our business to understand the latest technology developments, what's more important is our understanding of your business needs. At the start of each project, InterAuct! will work closely with you to exceed your expectations by implementing the optimal configuration in the shortest possible time ñ each time and every time.

But our value proposition doesn't start and end here.

Once the site is "live," InterAuct! will monitor and administer to your database of users seamlessly, providing excellence and flexibility in all aspects of service and support. Because we are more than a software vendor, InterAuct! takes full responsibility for continuous quality service.

The right business partner for the right solution

Online bidding is changing e-commerce as we know it. Before you decide to implement an auction component to your web storefront, you need to consider the various types of auction models available. Companies may choose to execute a business-to-business, business-to-consumer, or consumer-to-consumer auction structure, and determine if the auction element would branded directly or indirectly.

Direct branding allows you to establish customised auction sites that cater exclusively to your clientele. Imagine you are a property firm. With InterAuct! you can create an auction that's restricted to your clients and allow them to vie for their dream house in cyberspace ñ quickly and efficiently. Both buyer and seller will stand to benefit from the transaction.

On the other hand, indirect branding lets you create a front-end graphical user interface (GUI) that will reflect your unique store front, but with a back-end infrastructure that's linked to and maintained by the largest auction site in Singapore at www.interauct.com.sg . This allows your auction site to immediately feature more items and more usage than if you had started from scratch. Who knows you might even become the next hot e-commerce site with full auction capabilities!

All software and database management systems will reside on InterAuct! servers thus further reducing cost of implementation, and you have the option of maintaining a proprietary customer database, or share this information with other sellers.

Because InterAuct! is the total auction services provider, we understand the needs and requirements of managing an online auction. To ensure that your auction site is self-sufficient, we have implemented logistics support and are also planning to make available various value-added services, such as escrow and payment systems. All this translates into more effective use of resources and significant cost savings. In business speak, a higher rate of return on your investments.

A new breed of company

As one of the early pioneers in the local Internet/e-commerce scene, the company is recognised as the premier auction service provider for businesses and consumers alike. We are committed to providing enhanced user experience, and will continue to use proprietary technology to move and excite all aspects of the auction process.

Within the last 12 months, InterAuct! has made significant inroads in Asia. In addition to managing its Singapore C-to-C auction site, the company will be launching local versions of this site to reach users in Sydney, Australia and Kuala Lumpur, Malaysia.

InterAuct! ñ Leading the way to a connected and enlightened future

With InterAuct! you can expect the best solutions and services to enhance your competitiveness in an increasingly noisy marketplace.

Think auctions, think InterAuct!