Hi Manoj,
I do also strongly suggest you to ask what format/protocol is favourable on the "other" side.
Speaking about technologies, I would also like to add ABAP/4 proxies to the list. This mechanism makes things much easier in case you have a web-service on the other side (you may import the WSDL-definition and create a class with all the datatypes automatically using a WSDL import wizard).
Another thing to consider is the type of a business object you would like to export. Check on http://esworkplace.sap.com whether this business object does have its standard inbound/outbound interfaces.
Cheers,
KS