Application of electronic/Web commerce

Application of electronic/Web commerce

Electronic commerce combines the advantages of computer-based processing (speed, reliability, and relatively high volumes of data) with the advantages of people based insight.

            Currently, there are three tires in the electronic market-place, offering opportunities for companies of all sizes:

                        Tier 1. Electronic classified advertisements, which identify the item (or service) for sale, the price, and information necessary for contacting the seller. Electronic classifieds are analogous to print classifieds and are retrieved by the potential buyer.

                        Tier 2. Includes the characteristics of the first tier, but adds decision-support materials to the information available which help the user reach a purchase decision. Such marketplaces may include such information as product reviews from an industry magazine.

                        Tier 3. Includes the features of the first two tiers, but adds the ability to electronically match appropriate buyers and sellers. These electronic marketplaces may provide confirmation of a completed transaction through, such as that used to trade foreign exchange or software-based intelligent agents, are examples of technologies that can automatically match buyers and sellers.

v  Electronic funds transfer:

Extending and completing the procurement process by providing buyers with the ability to rapidly and cost-effectively make payments to sellers and shippers with less financial risk and fewer errors, while reducing paper-handling and storage requirements and banking networks.

v  Enterprise Integration:

Extending integration throughout a company, including other trading partners. Business process reengineering can be employed to improve communication within a company or by outsourcing to other companies and using electronic commerce like tools to manage the relationship. The result is the virtual corporation.

v  Computer-supported collaborative work:

Expanding collaborative activities, such as supporting joint development of requirements, maintenance documents, and so forth, within or across companies. The intent is to remove the barriers that inhibit creative interactions among people. Teaming may take place at either the company or individual level, creating a just-in-time virtual resource for delivery of the right human and business resources for a job.

This gives corporations the opportunity to increase changes of success, to share economic successes

      More broadly, and to give the customers a mix of capabilities more exactly meeting their requirements.

v  Government regulatory data interchanges:

Collecting  data from various communities to enable the government to carry out its mandated responsibilities.