Electronic Commerce is the process of doing business electronically
Online Commerce started with the invention of Electronic Data Interchange (EDI), a form of electronic commerce, which deals with the electronic transmission of preformatted business transaction documents.
E-Commerce is not a single technology but a combination of sophisticated technologies and business services integrated to provide instant transaction and response to consumer.
E-Commerce is a collection of technologies, processes and strategies.
E-Commerce is a business anywhere around the world at any time.
E-Commerce has become very popular after invention of Internet.
E-Commerce with Internet has many benefits like .
§ Lower cost of Operation
§ Better Interaction with consumer.
§ Business at any time.
§ Personal Solution to consumer.
§ Instant transaction for Business.
§ Instant response and status of delivery for consumer and World Wide reach etc.
§ Provide updated information
§ Paper less transaction
§ Services can be setup anywhere.
§ Availability of business services all around the world.
§ Online Inventory management
§ Creation of new markets without incurring large cost
§ Reduced advertising cost
There are some problems areas of E-Commerce, like:.
§ Security problems for data and payments
§ False claim of organisation to customer.
§ Virtual presence of goods on net do not assure that actual goods would also be same
§ Payment modes are risky like payments through credit card etc.
Overall the E-Commerce is a successful concept for business/ services like education, health services, logistics services, stock market and CRM (Customer Relationship Management) call centers etc.