Impact of E-commerce on Businesses

E-commerce is that the process of managing online financial transactions by individuals and corporations. This includes business-to-business (B2B), business-to-consumer (B2C) and business-to-government (B2G) transactions. The main target of e-commerce is on the systems and procedures whereby financial documents and knowledge of all kinds are exchanged.

This includes online MasterCard transactions, e-cash, e-billing, e-cheques, electronic invoices, order, and financial statements. E-commerce is especially concerned with the technologies that enable EDI-type functionality on the web. The broad definition considers an electronic transaction to be the sale or purchase of products or services, whether between businesses, households, individuals, governments, and other public or private organizations, conducted over a computer-mediated network. The products and services are ordered over those networks, but the payment and therefore the ultimate delivery of the great or service could also be conducted on- or offline.

The narrow definition considers an online transaction to be the sale or purchase of products or services, whether between businesses, households, individuals, governments, and other public or private organizations, conducted over the web. The products and services are ordered over the web, but the payment and therefore the ultimate delivery of the great or service could also be conducted on-or offline.

Concerning the processes that need to be included many countries want to limit the definition to the purchasing and selling aspect incorporated within the above definitions, many others want to incorporate other sorts of business processes, like marketing and advertising. Developing countries also will favor a definition that has business activities that transcend purchasing and selling, given the restrictions that a number of those countries face in conducting online payments. Much of the interest and therefore the literature has focused on B2B and B2C electronic commerce and most of the statistical indicators have also been in respect of those two forms.

FAQ

What is the role of e commerce in business?

Businesses may increase sales, access a larger audience, and run around the clock online thanks to e-commerce.

What do you mean by B2B ecommerce?

Online business-to-business transactions, including wholesalers selling to retailers, are referred to as B2B e-commerce. Through digital platforms, it facilitates bulk ordering, increases efficiency, and streamlines purchasing.

What is an ecommerce store?

An online marketplace where companies sell goods or services to consumers directly is known as an e-commerce store. It provides alternatives for ordering, browsing, and payment, making it easy to purchase from anywhere at any time.

What is e-commerce in simple words?

E-commerce is the practice of purchasing and selling goods online through the use of the internet, such as when customers purchase on websites or applications rather than in-person.

What is an e-commerce company?

A company that sells goods or services online via websites or applications and enables consumers to buy and make payments online without going to a physical location is known as an e-commerce company.

By: Khushboo

Birla School, Pilani