Briefing of E-Commerce
E-Commerce is one of the most important aspects of the internet to emerge. It allows people to exchange goods and services immediately and with no barriers of time or distance. Any time of the day or night, you can go online and buy almost anything you want. However, the road to creating a successful online store can be a difficult and confusing one if you are unaware of the concepts and principles behind eCommerce. The trick to entering this market smoothly is to find out what you need to do before you have to do it. The consumer moves through the internet to the merchant's web site. From there, he decides that he wants to purchase something, so he is moved to the online transaction server, where all of the information he gives is encrypted. Once he has placed his order, the information moves through a private gateway to a Processing Network, where the issuing and acquiring banks complete or deny the transaction. This generally takes place in no more than 5-7 seconds. There are many different payment systems available to accommodate the varied processing needs of merchants, from those who have a few orders a day to those who process thousands of transactions daily. With the addition
Distributors are shipping directly to consumers. Yet the biggest potential market by far for e-commerce is business-to-business. Fewer intermediaries means lower costs to your customers. You need to be utilizing electronic commerce technology to remain price competitive. Electronic commerce, or e-commerce, is the process of using digital technology as the medium for transmitting information between organizations. By the year 2001, business-to-business sales will account for over 80% of total purchases on the Web, according to Forrester Research and other top Internet research firms. Manufacturers are shipping directly to retailers. Digital technology replaces paper-based processes, resulting in lower costs, greater accuracy, higher speed and larger scale inter-company collaboration. Other business-to-business transactions are simply moving to the Web without using the standardized forms required by EDI (E-Commerce Guide's Ask the Experts, 1998). Even larger companies that used EDI often did not realize the full potential savings because many of their business partners did not use it. The cost of installation and maintenance of VANs put electronic communication out of the reach of many small and medium-sized businesses. This process transmitted standardized data that streamlined the procurement process between businesses, so that paperwork and human intervention were nearly eliminated (E-Commerce Guide's Ask the Experts, 1998). Fewer intermediaries means lower costs to your customers. Some believe the volume of Internet commerce will be much higher.
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Acceptance Essays
