Use of e-commerce technologies helps speed up the flow of information and to eliminate unnecessary human intervention; the computer can now accomplish what computers do better than people process routine business transactions quickly and accurately, 24 hours a day. This in turn, frees up people to handle tasks that computers may never be able to do exercising judgment, creativity, and experience to manage exceptions, solve problems and continually improve business processes.
E-commerce is growing in importance and means unprecedented opportunities for everyone. When a business takes advantage of the power of e-commerce, it will be able to.
i. Increase customer satisfaction
Internet is always open, even on holidays; business is thus always open, 24 hours a day, 7 days a week and 365 days a year. Customers will appreciate the extra access to product updates, shipping details, billing information and more. And since the internet knows no boundaries, customers can shop from home, work, or anywhere they can make a connection. Besides, by connecting the e-commerce and shipping systems, it would be possible to ship products faster and for less money.
ii. Increase sales volumes
The Internet is a new channel to reach new customers. With a web site, a company can automatically become a global provider of goods and services, with an edge over even the largest competitors. Interactive selling is advantageous because a company is no longer limited by shelf-space or inventory concerns but instead offer all products to suit the customers exact specifications.
iii. Decrease costs of doing business
E-commerce helps cut out or streamline processes that eat away profits. For instance exchange of information from advertising to availability updates, can add to the cost of sale. However, the web site can be an efficient, cost-effective communication vehicle. Customers can find timely accurate information in one place when they need it. By using e-commerce, everything from purchase orders to funds transfer can be handled faster and more efficiently. Even payment processing and bookkeeping are easier.
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