This invention relates in general to a system and method for business-to-business buying, selling, sourcing and matching of products and services across multiple business partners over the Internet. The invention covers an internet based solution comprise of: 1) business partner registration, 2) buying and selling processing, 3) matching of codes, 4) conversion of EDI transactions, 5) sourcing / offering of products / services and 6) electronic documents processing. The invention provides: 1) support on EDI technology conversion into Rosettanet technology, 2) enhancements to Rosettanet technology so that code matching is possible for companies with or without support on GTIN, DUNS, ISO, UN / SPSC and other globally set codes, 3) an intermediary infrastructure for consolidation and standardization of business data across multiple electronic business applications (EBAs) and platforms with or without manufacturer part number (MPN) and customer part number (CPN) support, 4) a conversion mechanism where internet published auctions and reverse auctions are converted into sales quotations (SQs) and request for quotations (RFQ) respectively, 5) a solution to extract data from various EBAs, interface, update, match and store codes such as company codes, product / service codes, currency code, unit of measure code, country code and class code from globally defined codes and business partner defined codes and 7) a sourcing / offering mechanism where it detects potential suppliers and buyers based on the calculation logic described on FIGS. 21 and 22.