Electronic Commerce – Your Next Business Endeavor

The development of computers, Internet, and networking technologies gave birth to a new approach in business, Electronic commerce (Ecommerce). Concepts, principles and ideas in traditional business endeavor are also being used with Ecommerce, but on a different medium. Ecommerce expands the opportunity of selling and buying products and services to a wider audience.

With Ecommerce, it has never been so easy advertising a product. Through the Internet and mobile phones, companies are now able to deliver the information with regard to a certain product or services to a desired group and possible future clients. Traditional method of advertising could take days and huge amount of effort to reach a prospect. The introduction of Ecommerce made it possible for a company to reach consumers from regional, country wide or global market.

Rising number of industries incorporate Ecommerce with their traditional business conduct. Websites, advertisements and promotions are now being presented through the Internet. Systems are designed to allow consumers to avail of the product through electronic means. Anyone can purchase a product or take advantage of services even without meeting the seller. Business-to-Client (B2C) solution can take place in this instance. A good example is the online ticketing system.

On the other hand, a company can also do business with another company. Business-to-Business (B2B) solutions are also developed to have this possible. This includes the software, sets of rules and regulations, and a contract to be followed by each party. Networking technologies play a major role in this instance. A client can access the company’s internal network to be able to make a transaction. Other means of Business-to-Business solution are also available.

Payment processing and fund transfer can also be done through the Internet and mobile phones referred to as online payment system. Ecommerce allows third party companies to offer payment processing services and handle the transaction in a secured and confidential manner. A seller can collect payment from a consumer through software embedded on a website or a system that will be connected to the third party company. By this means, a consumer does not have to be where the seller is.

One advantage of Ecommerce is availability. A company can have official business hours and holidays. Even if a business establishment is close at this certain period of time, the online advertisement and promotion is continuously active allowing a consumer to view what a company offers. With 24/7 availability through the Internet, a company can continue to receive orders and provide support for a consumer.

Another advantage of Ecommerce is cost management. Investing in Ecommerce is a new door for promotion. What are needed are a website, an online shopping cart application, and a payment system. This will just cost a company few dollars, but will also produce a remarkable return of investment.