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Eight experts, three analysts and top management from thirty-eight sector firms examine the e-Business sector in this special 190-page e-Business issue from The Wall Street Transcript, available at (212/952-7433) or http://www.twst.com/info/info468.htm.

TWST: What is the B2B coverage area at Banc of America Securities? What is the methodology that your team uses in your analysis?

Mr. Austrian: Just as the industry has changed, like so many other analysts, we’ve experienced change in the way we cover B2B. Today, within enterprise applications, I cover the business-to-business sector. We no longer think of B2B and e-commerce as separate and distinct from the enterprise solutions sector. We have carved off the supply chain as a discrete space for an analyst to cover exclusively, although it too remains a part of the enterprise applications space that is now synonymous with B2B and e-commerce. In the last year or two, as the e-commerce markets and B2B markets have evolved, we have consolidated all of B2B and e-commerce under the moniker of enterprise solutions or enterprise applications, which is my area. E-business and e-commerce are no longer discrete areas of opportunity, separate from enterprise technology. They are part and parcel of it. This is, by metaphor, the same as eCRM and CRM and how those two evolved. In 1999 and 2000, eCRM or Internet customer management was a discrete space. Today, there is no such thing as eCRM; there is simply CRM, which envelops the Internet channel.

TWST: What are the fundamentals that have driven that evolution? Is it that technology now approaches real time interaction in the supply chain?

Mr. Austrian: Not quite. What drove us here is the realization that e-commerce and E2B must be supported by core information processing systems. It’s not possible for enterprise systems to ignore these areas. Likewise, it proved not pragmatic for e-commerce systems and B2B systems to be islands that don’t integrate with core back office systems. It is not about technology per se and the promise of real time data. It’s about basic business models and modes of operation. It’s not possible for real businesses to separate and treat as distinct their electronic commerce activities from their “regular” commerce activities. It’s not viable. With that basic realization in the business model, B2B and e-commerce converges with core back office and front office processing.

TWST: Which segments will be the first areas to see that spend by the Fortune 500 companies?

Mr. Austrian: Customer management systems are still the number one priority for spend. In the broadest theme, the supply chain technologies category is number two. Webifying one’s applications, or browser-enabling existing systems, is also a very high priority. Those three areas are getting a huge amount of attention.

TWST: Who are the key players in each of those.

Mr. Austrian: In the customer management area, I’m still squarely behind Siebel (Nasdaq:SEBL) as being best positioned. PeopleSoft (Nasdaq:PSFT) has been doing a good job of clawing its way into that game as well. As far as Webification of traditional applications, PeopleSoft seems to be doing the best job. They have a huge installed based of non-Webified customers who are upgrading rapidly. In terms of high profile, mainstream companies, that’s how they stand today. We also cover a number of companies that are smaller, my favorite of which is far away from any of the themes that we’ve talked about.

1) The Future of e-Business - In an in-depth (2,200 words) Expert Interview, Mick Calder, Analyst at Line56, examines the outlook for the sector.

2) B2B Supply Chain Strategy - In an in-depth (3,000 words) Expert Interview, Rick Andrade, Senior Manager at Cap Gemini Ernst & Young, examines the outlook for the sector.

3) e-Business Management Strategies - In an in-depth (2,300 words) Expert Interview, Cathy Spencer, Research Director at Gartner Inc., examines the outlook for the sector.

4) Outlook for CRM and PRM Suppliers - In an in-depth (1,200 words) Expert Interview, Karen E. Smith, Senior Analyst at Aberdeen Group, examines the outlook for the sector.

5) The Continuing Evolution of B2B - In an in-depth (2,900 words) Expert Interview, Thomas M. Koulopoulos, President at The Delphi Group, examines the outlook for the sector.

6) Supply Chain Management Services - In an in-depth (3,400 words) Expert Interview, Jay Holata, Associate Partner of Accenture, examines the outlook for the sector.

7) Investing in e-Business Stocks - In an in-depth (3,100 words) Expert Interview, Robert McCullough, Director for Hurwitz Group, examines the outlook for the sector.

8) Supply Chain Strategies - In an in-depth (3,900 words) Expert Interview, John Fontanella, Service Director at AMR Research, examines the outlook for the sector.

9) E-Commerce Software - In an in-depth (3,500 words) Analyst Interview, Jon Ekoniak, Vice President at U.S. Bancorp Piper Jaffray Inc., examines the outlook for the sector and shares specific stock recommendations.

10) Outlook for e-Business - In an in-depth (2,400 words) Analyst Interview, William Chappell, Senior Analyst in Equity Research at SunTrust Robinson Humphrey, examines the outlook for the sector and shares specific stock recommendations.

11) Enterprise Solutions in B2B - In an in-depth (1,800 words) Analyst Interview, Robert B. Austrian, Managing Director at Banc of America Securities, examines the outlook for the sector and shares specific stock recommendations.

12) CEO interviews (average 2,500 words). Top management of thirty-eight sector firms examine the outlook for their firm and the sector.