U.S. businesses forked over $153 billion to build their online business infrastructures in 1999, according to a study conducted by Internet Research Group and SRI Consulting Inc.
The study, "E-Business 2000," concluded that companies are quickly adopting online business systems in the wake of retail Internet sales hitting close to $20 billion in 1999. U.S. firms will spend $348 billion by 2003 on features for their online businesses, the study predicts, including supply-chain management, procurement, knowledge management and human resources.
The report studied firms in 12 industry segments, including banking, insurance, brokerages, health care, manufacturing, retail, transportation and utilities.
Securities and travel top the sectors moving to online business systems, while traditional industries such as manufacturing are behind in adoption, the report said.
Based in Los Altos, Calif., Internet Research Group is a consulting and research firm that focuses on e-commerce infrastructure. SRI Consulting, in Menlo Park, Calif., offers market and technology analysis.