Wells Fargo Bank has launched a program, eStore Business Solutions, to set up e-commerce services for middle-market companies.
The bank already offers e-commerce services for small businesses through its One-Stop eStore, which started last September and since has gathered a few hundred clients. The One Stop eStore is a template-driven model,clients can set up an e-commerce web site within a few hours for a small fee.
But the eStore is targeted at companies with revenue of $20 million to $250 million and takes the services a bit further. The e-Store can set up an e-commerce site for a business and offers hosting, transaction processing, custom-built online catalogs, merchandising management, 24-hour customer support, warehousing and fulfillment capabilities, and traffic- building tools.
For the technolgy and the infrastructure to set the program up, Wells Fargo teamed up with NetSales Inc., a Kansas City-based operation that has been setting up e-commerce sites and now has more than 1,800 sites under its belt.
“We saw a unique opportunity in partnering with Wells Fargo, who wanted to pioneer these solutions to mid-market businesses,” said Bob Fraser, the CEO of NetSales.
The e-Store program will be offered through the bank’s branches, but all of the services can be accessed online. Wells Fargo will be banking on the fact that, according to a recent Forrester report, businesses will place $2.7 trillion in orders via the Internet by 2003 and that 98% of larger companies will sell goods over the Internet this year.
