Facts about E-Business and E-Commerce

Evolution of E-Commerce

How did e-commerce start? In the beginning companies were satisfied by just having an online presence. Every company, whether large or small, wanted to have a website. Later on the process of buying and selling over the internet started. Companies now processed orders over the internet in addition to or as a replacement of paper based orders.

Evolution of E-Commerce - Continued...

Today we are in the age of e-business. This is much more than just buying and selling over the internet and increasing gross revenue. E-Business today directly impacts the profitability of a firm. An e-business encompasses back-office and front-office applications along with e-commerce. E-Business involves the use of technology to maximize profits and customer value.

Key Points about E-Business and E-Commerce

• Technology is the enabler of e-business
• E-Business, enabled by technology, allows a firm to restructure its processes to become more "Customer-Centric"
• A customer-centric e-business provides better value to its customers allowing it to stay ahead of competition and increase profits

Examples of better value to a customer, provided by an e-business

• Shorter delivery times
• A shopping experience personalized for each customer
• Being proactive rather than reactive to customer needs
• Lower costs

• 24 * 7 available shopping from the comfort of your home
• Ability to scan quickly and purchase from a very large inventory of products, not possible in a brick and mortar store

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