E-COMMERCE

 Commerce has a long tradition of profiting from innovative systems and tools. As technologies emerge, successful businesses are quick to identify developing opportunities and expand their commercial capabilities. Conducting commerce electronically is no different.

For many businesses, new technologies that digitally exchange text and monetary information are effective tools to serve traditional business goals of streamlining services, developing new markets, and creating innovative business opportunities. In addition, they offer the potential to develop types of services that are so innovative and distinct from tradition that they define a new type of commerce. Appropriately named, electronic commerce (E-Commerce) is the synthesis of traditional business practices with computer, information and communication technologies.

http://store.templatemonster.com/?aff=orlandoweb E-Commerce is not an entirely new type of commerce. It first emerged in the 1960's on private networks, as typically large organizations developed electronic data interchange (EDI) installations and banks implemented electronic funds transfer (EFT). Today, however, E-Commerce is no longer the exclusive domain of large organizations or private networks.

The open network Internet and particularly the World Wide Web not only present new commercial potential for large organizations, but also provide a viable entry point for small and medium-sized enterprises (SMEs) into E-Commerce opportunities. IT in Action Even though E-Commerce has existed for past several years, it has just recently sustained significant growth. In the past 5 years, the Internet has transformed from an auxiliary communication medium for academics and large organizations into an entrenched communication medium that spans across nearly all parts of mainstream society. E-Commerce growth is tied directly to these socio-technological changes. The more entrenched the medium becomes; the more users are drawn to it. An increase in users increases markets. As markets expand, more businesses are attracted, which in turn drives the development of better, more stable and secure technology to facilitate E-Commerce. A stable, secure environment for exchanging mission-critical and monetary information only draws more businesses and consumers to the Internet and ensures the growth pattern continues. All these related factors contribute to a burgeoning E-Commerce marketplace that should continue to grow well into the new millennium.

Only now it is becoming apparent how large the potential for E-Commerce will be in the next few years. With E-Commerce prospects continuing to improve, most large corporations have already developed preliminary E-Commerce strategies. Although many SMEs are not following this trend of large corporations, others have found that  a modest investment in a simple website can develop into a commitment to ECommerce as a major component of the business plan. At this stage of development, E-Commerce is not an essential operation for every type of SME, but in the near future it may become standard for many.

Here we will discuss about the concept of E-Commerce, how it will be done, advantages, benefits, limitations, types of E-Commerce, electronic payment systems and security issues.

E-Commerce is new way of conducting, managing and executing business transactions using computer and telecommunications networks. As awareness of the Internet throughout the commercial world and general pubic increases, more and more business activities using internet based technology. The real key to making electronic commerce over the Internet a normal, every day business activity is the convergence of the telecommunications, content/media and software industries. E-commerce is expected to improve the productivity and competitiveness of participating businesses by unprecedented access to an online global market place with million of customers and thousands of products and services.

As we have studied about the concept of E-Commerce, advantages, benefits, limitations, types of E-Commerce, electronic payment systems, security issues, online banking and online railway reservation.

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