Features of E-Commerce
§ Non-Cash Payment
§ 24×7 Service Availability
§ Advertising / Marketing
§ Improved Sales
§ Inventory Management
§ Communication Improvement
§ E-Commerce enables use of credit cards, debit cards, smart cards, electronic fund transfer via bank’s website and other modes of electronics payment.
24×7 Service Availability:
§ E-commerce automates business of enterprises and services provided by them to customers are available anytime, anywhere.
§ Here 24×7 refers to 24 hours of each seven days of a week.
Advertising / Marketing:
§ E-commerce increases the reach of advertising of products and services of businesses.
§ It helps in better marketing management of products / services.
§ Using E-Commerce, orders for the products can be generated anytime, anywhere without any human intervention. By this way, dependencies to buy a product reduce at large and sales increases.
§ E-Commerce provides various ways to provide pre sales and post sales assistance to provide better services to customers.
§ Using E-Commerce, inventory management of products becomes automated.
§ Reports get generated instantly when required. Product inventory management becomes very efficient and easy to maintain.
§ E-Commerce provides ways for faster, efficient, reliable communication with customers and partners
Difference between Traditional Commerce and E-Commerce:
§ Heavy dependency on information exchange from person to person.
§ Communication/ transaction are done in synchronous way. Manual intervention is required for each communication or transaction.
§ It is difficult to establish and maintain standard practices in traditional commerce.
§ Communications of business depends upon individual skills.
§ Unavailability of a uniform platform as traditional commerce depends heavily on personal communication.
§ No uniform platform for information sharing as it depends heavily on personal communication.
§ Information sharing is made easy via electronic communication channels making little dependency on person to person information exchange.
§ Communication or transaction can be done in asynchronous way. Electronics system automatically handles when to pass communication to required person or do the transactions.
§ A uniform strategy can be easily established and maintain in e-commerce.
§ In e-Commerce or Electronic Market, there is no human intervention.
§ E-Commerce website provides user a platform where al l information is available at one place.
§ E-Commerce provides a universal platform to support commercial / business activities across the globe.