CPA2BIZ COMES ROARING INTO TOWN.

• Author: McCRARY, DEANNA

ITS CREATION WAS HERALDED as a pioneering force in bettering the predicament of society. Those who embraced this new technology saw within it the potential to link cities and countries. The world suddenly seemed smaller and more accessible--more global. Trade and commerce were re-born as goods and services that small, rural communities had only dreamed of having were readily available, while cities grew and prospered. A wealth of completely new employment options, as well as much wealth itself, flowed out through society as a result of this marvelous new technology. Yes, the creation of the steam engine had changed the world forever and the Industrial Revolution had begun, dramatically changing the lifestyle and nature of work for many people.

Today, the Internet Revolution is having much the same impact as that which happened over a century ago. The AICPA is seeking to hook a wagon onto this high-powered engine and CPAs across the nation are being urged to climb aboard and go along for the ride.

It's name is cpa2biz, an Internet portal, vertical in scope, which will offer CPAs and their clients a single source on the Web for news, business resources. networking and even online CPE. In much the same way that rail travel helped to build the United States, the Internet is helping the business-to-business (B2B) market offer services to sole practitioners, smaller firms and industry that at one time was only a dream.

B2B GROWTH DRIVES THE REVOLUTION

Consider this: Merrill Lynch recently reported that last year B2B commerce totalled $157 billion. Contrast that with e-commerce sales of $22 billion that same year and you can understand the hoopla surrounding this new buzz word. Now consider this: by 2003, B2B commerce is estimated to total an astounding $2.5 trillion, representing 5 percent of the gross domestic product. One of the nation's leading technology consultants, the Gartner Group, believes that by 2004, total B2B transactions will rise to $7.3 trillion.

Electronic B2B services seem revolutionary, but in fact they are really nothing new. For more than 20 years, manufacturing companies worldwide have had private data links with suppliers. While these closed-computer, supply-chain links were greatly efficient for larger companies, smaller suppliers were left out of the e-efficiency loop. Now, via the Internet, lower transaction costs and efficient interchanges are possible, allowing smaller businesses to compete on a more equal playing field.

WHAT IS A PORTAL?

"The cpa2biz portal will be the place for all CPA activity on the Web," declares AICPA President Barry Melancon. "It will help small firms compete with the Big Five and it will help the Big Five deal with smaller clients."

If you've visited sites such as Yahoo! or AOL, you've seen a portal, albeit a "horizontal" one. These sites offer a variety of information and services targeted for a very broad audience.

A vertical portal, on the other hand, also offers a wide variety of information and services, but is targeted toward a very specific audience. For example, ivillage.com is a vertical portal for women; WebMD.com is a vertical portal for the medical profession; and e-steel.com is a vertical...