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Benefits of E-commerce
E-commerce is the cheapest means of doing business. If there is some service or product that you want to
sell, using the power if internet you can do it by
incurring minimum expenses.
E-commerce allows people to do
businesses without time or distance barriers. You can log on to the Internet at any point of time, be it day or night and purchase or sell anything online at a single click of the mouse.
E-commerce Website eliminates the middle persons and other indirect costs. The direct cost-of-sale for an order taken from a web site is lower than through traditional means (retail, paper based), as there is no human interaction during the on-line electronic purchase order process. Also, electronic selling virtually eliminates processing errors,
as well as being faster and more convenient for the visitor.
E-commerce is ideal for niche products. Customers for such products are usually few. But in the vast market place i.e. the Internet, even niche products could generate viable volumes.
E-commerce reduces both the time and personnel required.
E-commerce operational benefits include reducing both the time and personnel required to complete business processes, and reducing strain on other resources.
The day-to-day pressures of the marketplace have played their part in reducing the opportunities for companies to invest in improving their competitive position. A mature market, increased competitions have all reduced the amount of money available to invest.
If the selling price cannot be increased and the manufactured cost cannot be decreased then the difference can be in the way the business is carried out.
E-commerce has provided the solution by decimating the costs, which are incurred.
From the buyer’s perspective also eCommerce offers a lot of tangible advantages.
- Reduction in buyer’s sorting out time.
- Better buyer decisions.
- Less time is spent in resolving invoice and order discrepancies.
- Increased opportunities for buying alternative products.
- The strategic benefit of making a business ‘ecommerce enabled’, is that it helps reduce the delivery time, labor cost and the cost incurred in
Document preparation, Error detection and correction, Mail
preparation, Telephone calling, Data entry expenses.
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