Ecommerce

Feb 3rd, 2012
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Discription of e-commerece, it's benefits and risks

Word Count: 595
Showing Page: 1/6
E-COMMERCEE-COMMERCE is the process of doing businesselectronically. It refer to the use of technology toenhance the processing of commercial transactionsbetween a company, its customers and it's businesspartners. It involves the automation of variety ofbusiness to business and business to customertransactions through reliable and secureconnections.Benifits of E-COMMERCE application andimplem entation: Reduction in costs to buyers from increasedcompetition in procurement as more suppliersare able to complete in an electronically openmarket place. Reduction in errors, time and overhead costs ininformation processing by eliminatingrequirements for re entering data. Reduction in costs to suppliers byelectronically accessing online databases of bidopportunities, online abilities to submit bids,and online review of rewards. Reduction in time to complete businesstransactions, particularly from delivery topayment. Creation of new markets through the ability toeasily and cheaply reach potential customers. Easier entry into new markets especiallygeographically remote markets for enterprisesregardless of size and location. Better quality of goods as specifications arestandarsized and competition is increased andimproved variety of goods through expandedmarkets and the ability to produce customisedgoods. Faster time to market as business processes arelinked, thus enabling seamless processing andeliminating time delays. Reduction

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