Electronic commerce, commonly known as E-commerce or e-commerce, is trading in products or services using computer networks, such as the Internet. Electronic commerce draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems.
Business value of e-commerce: E-commerce can provide with a lot of benefit to the business organization. Anyway, the business value of e-commerce is stated below –
- Product promotion: It has the ability to provide information to a customer. As a result, a company can risk a maximum number of customers in the worldwide.
- New sales channels: It is a new channel of selling goods and services over the net. Through using e-commerce, the smellers companies also get the chance to compete against the largest competitor in almost every field.
- Direct saving: Through using e-commerce, marketing, distribution and customer service cost can be reduced.
- Time to market: The sooner a company markets a product, the better. The life cycle of some products. Example, news, is very short in such situation it is important to reach as many customers as fast as possible.
- Customer service: The website is an excellent way to provide with better to the customer. The service available 24 hours a day 365 days a year.
- Brand corporate image: By using an e-commerce system, companies can build up a strong image of its brand.