Extranet:

Extranets make use of the network connectivity, Internet protocols (TCP/IP), and telecommunication systems to facilitate sharing of organizational information among its suppliers, business partners, and customers. They act as a link to the various Internet channels. These channels connect the intranet of a business with the intranets of its customers, suppliers, or other business partners. (Refer to Figure 5.2). Thus, the extranets enable the various external entities to have access to the selected intranet websites and databases of the company. It is for this reason that an extranet requires more privacy and safeguards.

Extranets

Extranets add value to a business in the following ways:

• Extranets enable the exchange of huge volumes of data using electronic data interchange (EDI).
• Using extranets, the company can develop strategic relationships with its customers and vendors.
• Extranets can be used for collaborating with other organizations on research and development activities.
• The information shared on the extranet can be updated regularly and instantaneously.
• Extranets can be used for sharing news that might be of common interest among the business partners.
• As the information on the extranets is accurate and updated regularly, this would enable business partners to continuously gain knowledge about the company's products and/or services and also place their orders quickly and easily.
• The productivity of the organization would improve as the processes that were manually done are now automated. For instance, manual methods were earlier used for ordering raw materials and other components from the suppliers, but now as these processes have been automated, the company can place an order through the extranet.
• Extranets can be used for accessing the services being provided by a single organization to a group of other organizations. For instance, Wal-Mart[5] has an extranet called Retail Link that allows the company to share information with its suppliers. Using the extranet, a supplier to Wal-Mart like Kraft[6] can find out how its products are selling.

Though they create value addition to business, extranets have some limitations due to their expense, as there is lack of face to face contact with the external business entities, and other security concerns. Extranets also facilitate online, interactive product development and marketing, and customer-focused processes that can bring better designed products to the market faster.

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