e-Commerce Solutions- A Smart Business Proposition

e-Commerce Solutions - A Smart Business Proposition The advent of technology has had a great impact in the way organizations conduct the business across geographical boundaries. The buying and selling of products and services over the electronic systems, and computer networks has become very common. Electronic commerce, or e-commerce, refers to this form of online sales and purchases of products or services. However, the term also includes the entire process of developing, marketing, selling, delivering, servicing and paying for products and services through the use of the Internet. The widespread use of Internet has resulted in the extraordinary growth of the e-business.

The opening of the world wide web for exchange of products and services across geographical boundaries has stimulated innovative methods in business process such as electronic funds transfer, logistics and supply chain management, Internet marketing, online transaction processing, electronic data interchange, inventory management systems, and automated data collection systems. Though this form of business transaction is conducted with the combination of a number of technologies through the World Wide Web, email, and mobile devices, it was initially meant for virtual items. But the advent of technology has made it feasible for retailers to create online retail stores with an option for a physical delivery of the goods and services and consumers to shop from the comfort of their mobile phones.

The impact of technology on the business arena has given rise to the concept of e-business with e-commerce as its sales aspect. Business transaction between businesses is referred to as business-to-business or B2B and may be restricted to a private group or open to all. In case where the business transactions take place between business houses and consumers, it is referred to as B2C. This is the type of electronic transaction facilitates online shopping and purchase of products and services directly from the websites of the companies. Payment for these products can also be made online through the e-commerce solutions such as electronic funds transfer or online transaction processing system.

Comparing a B2B transaction with a B2C transaction, the B2B is much higher in sales volume as this involves sales between a wholesaler and retailer or between a manufacturer and retailer and involves vast quantity of supply chain transactions involving raw materials, sub components and finished good and services too. In case of the B2C transaction, the transaction takes place between a consumer and retailers and is basically aimed at a finished product or service.

The expanse of the importance of e-commerce solutions in the business environment has stimulated organizations to make use of online, social & mobile commerce. The e-commerce software thus designed provides Web portals for specialized services, Interactive advertising, online storefronts, catalogs and shopping carts besides web-based administration products for managing inventory, coupon codes and gift certificates as well as payment processing solutions.

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