e_commerce oct16 notes.docx - 1 OVERVIEW E-Commerce or Electronics Commerce is a methodology of modern business which addresses the need of business

e_commerce oct16 notes.docx - 1 OVERVIEW E-Commerce or...

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1. OVERVIEW E-Commerce or Electronics Commerce is a methodology of modern business, which addresses the need of business organizations, vendors and customers to reduce cost and improve the quality of goods and services while increasing the speed of delivery. E-commerce refers to the paperless exchange of business information using the following ways: Electronic Data Exchange (EDI) Electronic Mail (e-mail) Electronic Bulletin Boards Electronic Fund Transfer (EFT) Other Network-based technologies Features E-Commerce provides the following features: Non-Cash Payment : E-Commerce enables the use of credit cards, debit cards, smart cards, electronic fund transfer via bank's website, and other modes of electronics payment. 1
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24x7 Service availability : E-commerce automates the business of enterprises and the way they provide services to their customers. It is available anytime, anywhere. Advertising/Marketing : E-commerce increases the reach of advertising of products and services of businesses. It helps in better marketing management of products/services. Improved Sales : Using e-commerce, orders for the products can be generated anytime, anywhere without any human intervention. It gives a big boost to existing sales volumes. Support : E-commerce provides various ways to provide pre-sales and post-sales assistance to provide better services to customers. Inventory Management : E-commerce automates inventory management. Reports get generated instantly when required. Product inventory management becomes very efficient and easy to maintain. Communication improvement : E-commerce provides ways for faster, efficient, reliable communication with customers and partners. 2
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3 2. ADVANTAGES The advantages of e-commerce can be broadly classified into three major categories: Advantages to Organizations Advantages to Consumers Advantages to Society Traditional Commerce v/s E-Commerce Traditional Commerce E-Commerce Heavy dependency on information exchange from person to person. Information sharing is made easy via electronic communication channels making a little dependency on person to person information exchange. Communication/transactions are done in synchronous way. Manual intervention is required for each communication or transaction. Communication or transactions can be done in asynchronous way. The whole process is completely automated. It is difficult to establish and maintain standard practices in traditional commerce. A uniform strategy can be easily established and maintained in e- commerce. Communications of business depends upon individual skills. In e-commerce, there is no human intervention. Unavailability of a uniform platform, as traditional commerce depends heavily on personal communication.
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