The very fact that you've picked up a copy of XML-Journal or are viewing it online at www.XML-Journal.com and are reading this editorial means that my job is half done. Because it shows that you're already paying attention to XML and thinking about how it will change the world of business. But you may be confused about just what it all means to you, and which direction you should take. So let me try to unconfuse you....

First, the buzz about B2B (business-to-business) e-commerce ushering in a new era in the economy isn't just hype, it's for real. We've all heard the projections about the value of online B2B transactions going from billions this year to a volume measured in the trillions within three years. It's hardly an exaggeration to compare the phenomenon with the building of railroads in the 19th century, a development that opened up whole new avenues of commerce and led to decades of unprecedented economic expansion. In the twenty-first century, business giants like GM, Chevron and Sears are leading the way, with infrastructure provided by new e-market makers like Commerce One and Ariba.

Second, despite all the hype about XML, its role in the infrastructure of B2B e-commerce is, if anything, underhyped. XML is without question a key enabling technology. Since almost all e-market makers take it as a given that XML is the backbone of their systems, it's not a matter for debate. It's the right technology at the right time, and it's what everyone is using.

Finally, when you hear that e-markets are the way business is going to be done in the new economy...believe it. The efficiencies and cost savings for buyers are too great to ignore. Cost savings of up to 80% are being reported already. There are benefits for suppliers, too: B2B e-commerce creates new channels with new customers, lowers costs per transaction and offers increased revenue. But the most compelling reason for suppliers to participate is that their customers will demand it. Buyers would like to reduce the number of suppliers they deal with, and the ones they will drop first are those that are not online with them.

Should you wait until the various XML-related standards and schemas that are being discussed have been shaken out and all the dust has settled? In a word, no. Things are moving very quickly in the B2B arena already. But it's nothing compared to the rush to participate that we'll see when the many e-markets - already numbering about 400 now and predicted to go to 10,000 over the next two years - achieve a critical mass of buyers and suppliers. There really won't be any choice but to participate or be left behind.

So what should you be doing about it? The first step is to investigate how to put your own house in order. You don't need to try to change all your business processes overnight, but you do need to assess where your existing processes need to go. If all your product information is in paper-based brochures only, it's going to be a challenge to leap into an XML-based e-catalog system when the time comes.

As part of your company's XML adoption process, you'll need to act as a driving force. You'll need to ensure that resources are made available and are given the time and the support to learn XML techniques and practices and participate in the growth of the technology.

Don't worry about picking the wrong schema or even implementing one of your own design. Remember that using any kind of XML schema is better than not using the technology at all. By imposing a schema on your data, you're putting an order and a structure onto it and it's always an easier task to take an existing structure and convert it to a different schema than it is to impose order over chaos. You can participate in e-markets now and, as the standards evolve, you'll be ready.

As a business you need to be able to distinguish between product data and richer product content. Your customers will want to see more than just part numbers and prices. You need to get the numbers from your product databases, whether they are in Excel spreadsheets or full-blown ERP systems, and put them together with the information in the product brochures from your marketing group. You need to create the means of managing all this content in a way that can be communicated to one or more e-markets and will scale as you add products and customers.

The key point is that you need to be preparing to communicate your organization's products and capabilities to e-markets, which is where your customers are going to be. For all of that you're going to need XML.