ecommerce
E-commerce Lists

What is E-Commerce discuss its advantages ?

Electronic commerce, commonly known as e-commerce, is a type of industry where buying and selling of products or services are conducted over electronic systems such as the Internet and other computer networks. The way of doing business with the use of computer and communication technology has simplified the business procedure and increased efficiency. Combining with electronic data interchange (EDI), email, www, supply chain management, and other internet and mobile applications, eCommerce provides ways to exchange information between computers, individuals, companies, and countries. The movement of the business of e-commerce can be categorized into two major elements: business-to-business (B2B) and business to consumers (B2C). With the rapid developments in technology, the traditional brick and mortar businesses are now changing themselves into digital businesses and gaining a global reach. But still, the political structures among the trading nations bring challenges for the commencing businesses over the electronic medium. Currency conversion, tariffs, import and export restrictions, local business customs, and the laws of each country can make international electronic commerce difficult.

Advantages of eCommerce

  • Some of the advantages of e-commerce are
  • 24 x 7 operation: round the clock operation
  • Global reach
  • Cheap to acquire and serve customers
  • Easy to set up and manage a business
  • Easy to extend into new service areas through tools like ERP, SCM, CRM, etc
  • Direct Contact with the customers, no cost for intermediary
  • Improved customer service

 

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