How is e-commerce helpful to your business?
View(s):Do you run a business that’s going on well and you’re wondering how to expand sales globally? Are you hesitant to break into e-commerce because of security concerns, or simply a lack of understanding about that element of business?
If you’re in any kind of business are thinking of it, or if that’s where you’re clients are there’s never a better time to gain a better understanding of what it takes to sustain and e-commerce business.
Electronic commerce is the buying and selling of goods and services, or the transmitting of funds or data, over an electronic network primarily on the internet. So e-commerce is a part of the business which included e-business. These business transaction occur either as business-to-business(B2B), business-to-consumer(B2C), consumer-to-consumer(C2C), to consumer-to-business(C2B).
If your business is using e-commerce, then you can achieve some benefits to some organization’s growth. Those are, e-commerce expands the market place to national and international markets. With minimal capital outlay, a company can easily and quickly locate more costumes, the best suppliers, and the most suitable baseness partners worldwide with the help of e-commerce. So e-commerce decreases the cost of creating, processing, distributing, storing and retrieving paper-based information. By introducing an electronic procurement system, companies can cut the purchasing administrative costs by as much as 85 present.
The ability for creating highly specialised businesses. Also, e-commerce allows reduced inventories and overhead by facilitating-type supply change management. E-commerce reduces the time between the outlay of capital and the receipt of products and services.
As well other benefits include an improved image, improved customer service, newfound business partners, simplified processes, compressed cycle and delivery time, increased productivity, eliminating paper, expediting access to information, reduced transformation cost and increase flexibility.
Few innovations in human history encompass as many potential benefits and EC does. The global nature of the technology, low cost, opportunity to reach hound rest of millions of people, interactive nature variety of possibilities and resource fullness and rapid growth of the supporting infrastructures result in many potential benefits to organizations, individuals and society.
S. Hasini Madhuwanthi
(Trincomalee campus,
Eastern university of Sri Lanka)