As John Battelle pointed out in an article this month in Advertising Age's Point supplement, disintermediation
isn't necessarily the elimination of the middleman by the Internet or MIS or some other high-tech interloper.
Accordingly, it might be more accurate to refer to disintermediation
By examining traditional functions provided by intermediaries in sales transactions, we intend to demonstrate that current Internet trends go beyond disintermediation
. Emerging new Internet players are being joined by entirely new types of intermediaries, leading to the radical restructuring of industrial and commercial networks.
These two issues, which are discussed in this section, are disintermediation
and customer orientation.
In the e-commerce world, the practice of disintermediation
has helped to spur exponential growth in many industries.
And if you're already a star, you can avoid the middleman by using the Net to keep most of the money yourself." It's hardly surprising that Time, as a huge-circulation cash cow of a giant corporation, casts the promise of disintermediation
starkly in terms of stardom and big bucks, rather than anything as impecunious as, say, self-expression.
In its new manifestation, disintermediation
covers a lot of ground.
The Single Market, disintermediation
, electronic technology and the advent of the Euro have all accelerated the banks' transitions.
These factors are associated with disintermediation
(interest rates, economic, and employment conditions), returns on insurer investments (bonds, stocks, and real estate), and competition.
"We've heard a lot about channel disintermediation
over the last few years, but from talking to our customers, we think the pendulum's coming back a little bit the other way," explained president and CEO Jean Kovacs.
Hence, while exploring the roles that transaction intermediaries play in electronic commerce may assist in identifying and remedying the sources of disintermediation
of the tax system that may arise from electronic commerce, Revenue Canada and the Department of Finance should exercise restraint in proposing or imposing new compliance and reporting requirements on intermediaries.
Technological substitution, disintermediation
, and convergence are three factors that will have an obvious impact on tax practice.