Electronic commerce, commonly known as e-commerce, eCommerce or e-comm. consists of the buying and selling of products or services over electronic systems such as the Internet and other computer networks. It includes the entire online process of developing, marketing, selling, delivering, servicing and paying for products and services.
The use of commerce is spurring and drawing on innovations in electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. A large percentage of electronic commerce is conducted entirely electronically for virtual items such as access to premium content on a website, but most electronic commerce involves the transportation of physical items.
Sometimes these transactions include the real-time transfer of funds from buyer to seller and sometimes this is handled manually through an EFT - POS terminal once a secure order is received by the merchant.
Real time transfer of funds from buyer to seller are included in these transactions and after receiving a secure order from the merchant only transactions are sometimes handled through an EFT - POS terminal. Electronic commerce that takes place between businesses is referred to as business-to-business or B2B. B2B can be open to all interested parties (e.g. commodity exchange) or limited to specific, pre-qualified participants (private electronic market). Electronic commerce that takes place between businesses and consumers, on the other hand, is referred to as business-to-consumer or B2C. This is the type of electronic commerce conducted by companies such as Amazon.com. Online shopping is a form of electronic commerce where the buyer is directly online to the seller's computer usually via the internet.
Consumers are taking advantage of lower prices offered by the wholesalers who sell their products through retailers which increases the internet sales rapidly. And this will strengthen as web sites address consumer security and privacy concerns.
It reduces costs as it reduces labor cost, paperwork and also reduces errors.
It reduces labor, reduces paper work and reduces errors in keying in date; reduce post cost which will result in entire cost reduction
It has the ability to handle complex situations, different products and customer profiles without putting the situation into a tough one.
The communication between trading partners improves which leads to long term relationships.
There is improved communication between trading partners which leads to improved or long term relations among them.
It has the ability to find new markets which really helps in establishing with more business
The use of commerce is spurring and drawing on innovations in electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. A large percentage of electronic commerce is conducted entirely electronically for virtual items such as access to premium content on a website, but most electronic commerce involves the transportation of physical items.
Sometimes these transactions include the real-time transfer of funds from buyer to seller and sometimes this is handled manually through an EFT - POS terminal once a secure order is received by the merchant.
Real time transfer of funds from buyer to seller are included in these transactions and after receiving a secure order from the merchant only transactions are sometimes handled through an EFT - POS terminal. Electronic commerce that takes place between businesses is referred to as business-to-business or B2B. B2B can be open to all interested parties (e.g. commodity exchange) or limited to specific, pre-qualified participants (private electronic market). Electronic commerce that takes place between businesses and consumers, on the other hand, is referred to as business-to-consumer or B2C. This is the type of electronic commerce conducted by companies such as Amazon.com. Online shopping is a form of electronic commerce where the buyer is directly online to the seller's computer usually via the internet.
Consumers are taking advantage of lower prices offered by the wholesalers who sell their products through retailers which increases the internet sales rapidly. And this will strengthen as web sites address consumer security and privacy concerns.
It reduces costs as it reduces labor cost, paperwork and also reduces errors.
It reduces labor, reduces paper work and reduces errors in keying in date; reduce post cost which will result in entire cost reduction
It has the ability to handle complex situations, different products and customer profiles without putting the situation into a tough one.
The communication between trading partners improves which leads to long term relationships.
There is improved communication between trading partners which leads to improved or long term relations among them.
It has the ability to find new markets which really helps in establishing with more business
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