Undersea cable accident like the one which hit recently in the optical fiber submarine communication system of SEA-ME-WE 4 can bring international trade to its knees. That is because today businesses around the world by and large make use of the services of Business to Business (B2B) portals. Any disruption due to cable snaps or anything of that nature would inflict colossal damage to international trade and thereby would trigger a price rise in exim commodities. B2Bs are known as the state of the art vehicle global business and it is run by Internet services. B2B portals being an on-line entity provide international trade services at greater speed and cost effectiveness.
More than a decade of B2B portals existence, have drawn the attention of thousands of international traders and a majority of them utilize the services of these portals to the best effect. But incidents like the one which happened in the gulf would bring to a standstill not only international trade but also other services which depend on the Internet. In the modern world it is hard to pinpoint any interactive function which is done without the Internet. B2B portals basically help a trader to do one’s business, just being in one’s office. In the day to day business a B2B based trader has to extensively use the Internet services. The portals are equipped with services that allow the trader to present one’s trading need through the provided company profiles of the respective trader.
The damage to SEA-ME-WE 4 is a wake up call to the world as a whole. Initial reluctance by the consortium with the same name to admit the damage, apparently shows the intensity of destruction. The immediate measures taken by the consortium gives a sigh of relief to the international trading community. This accident has further prompted other service providers to take pre-emptive measures to avoid such disasters in the future. The businesses especially in the undersea cabled region had made severe losses due to the disruption of the services. It is unimaginable to what extent the losses would have made by businesses if the services were not resumed quickly. We hope the connectivity in the affected regions will be established back in full swing soon.
As there is no substitute to that of the services of B2Bs in international business, it has to be taken into consideration that uninterrupted Internet services is a must for containing any kind of economic slow down. Everyone tend to forget the other side of destruction which could happen due to such accidents. At the moment, the affected region is hoping for a speedy solution for this problem and wants to have an assurance from the service providers to make available genuine updates on any such incident in the future. One cannot de-couple international business from B2Bs anymore and these services are solely run on Internet. Since there is no mechanism to valuate the transactions takes place on a daily basis on the B2B portals, it is hard to assess the damage, the disruption of services have cost to the region in few days time. To conclude, the disruption of Internet will hamstring B2Bs and eventually it will inflict severe damage to the global business.
Author Resource:-
Toboc, a b2b portal, provides global trade platform for Importers and Exporters from the different regions of the world.
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