E-commerce is the new trend in doing business these days. Talking about business to business in e- commerce, B2B commerce is done through negotiating a contract which allows the seller to anticipate and plan for how much the buyer will purchase. Compared to traditional business, doing electronic business is more advantageous. That is why more and more companies are embracing this type of dealing. In the part of the company, e-commerce helps out to be more competitive with other companies in the market.
Internet is the finest tool in these days specially in doing business. It is mostly used for advertising, for doing competitive research, for providing customer service, in education and training, for job hunting or employee hunting, for shopping online, and for news services. There are many advantages we can get if we use internet in doing our business. According to engineeringtalk.com, the major advantage of using internet in doing business is that because the information of the products and the selling of products are interwoven like never before. The internet also enables a company to showcase its products and provide up to date information, specifications and applications about the product. This made it more attractive to customers to buy the product. The information provided on the internet can be changed or be updated instantly. You can sell or order products anytime. Compared to traditional selling methods, web based transactions are faster and more convenient for a business that is with the use of the internet.
The internet transform the way how business works. Since the evolution of the internet many are using it specially in running a business because of the benefits a company and an individual get from it. Most of the big companies have their own system to run their business over the internet. These systems provide them better strategies in order for them to be more competitive in the business and make increase their sales. For instance e-Procurement or electronic procurement which is also known as supplier exchange, this is system used for making purchases online. Through internet companies are now capable of selling and purchasing of products and services. E-procurement connects companies and their business processes directly with suppliers and manages the interaction between them. With the usual interactions includes for looking for a buyers or a sellers of goods and services in which buyers and sellers may spell out costs or invite bidding and questions and answers. According to epiqtech.com a good e-procurement systems helps companies and business firms to organize their interactions with most crucial suppliers. It also provides a set of built in monitoring tools which helps control costs and assure maximum supplier for the users of this system. It also provides an organized way to keep an open line of communication with potential suppliers during business process.
There are seven types of e-procurement according to Wikipedia, those are:
• Web based ERP (Electronic Resource Planning)
Creating and approving purchasing requisitions, placing purchase orders and receiving goods and services by using a software system based on Internet technology.
• e-MRO (Maintenance, Repair and Overhaul)
The same as web-based ERP except that the goods and services ordered are non-product related MRO supplies.
• e-sourcing
Identifying new suppliers for a specific category of purchasing requirements using Internet technology.
• e-tendering
Sending requests for information and prices to suppliers and receiving the responses of suppliers using Internet technology.
• e-reverse auctioning
Using Internet technology to buy goods and services from a number of known or unknown suppliers.
• e-informing
Gathering and distributing purchasing information both from and to internal and external parties using Internet technology.
• e-marketsites
Expands on Web-based ERP to open up value chains. Buying communities can access preferred suppliers' products and services, add to shopping carts, create requisition, seek approval, receipt purchase orders and process electronic invoices with integration to suppliers' supply chains and buyers' financial systems.
More companies are using this system because of the benefits they get form it. Initially, e-Procurement system is standardized and easy to use. Other advantages includes in getting the right product from the right supplier and to the right buyer which is also with the right price and the quality of the product. The e-procurement system also allows multiple access levels and permissions which helps managers organize administrative users by roles, groups or task. It also help out the decision making process by keeping relevant information organized and time-stamped. The e-procurement system also takes the supply chain management to the next level and provides real time information to the vendor as to the status of a customer's needs. In addition, a Well-managed e-procurement system will help reduce inventory levels. Knowing product numbers, bid prices and contact points will help each business close a deal to other companies.
Some companies are using EDI or Electronic Data Interchange. EDI is the transfer of data between different companies which enables electronic trading with business partners. More and more companies get connected online and use EDI as a tool in doing their business because of the advantages they get from EDI. To begin with, EDI eliminates the need for re-entering data. By this means, the accuracy and speed of the transaction increases while significantly reducing the cost of expense. EDI also allows business transactions to take place in less time and with fewer errors. It also reduces the amount of inventory companies must invest in by closely tying manufacturing to actual demand, allowing for just-in-time delivery. EDI also reduces postage costs and the expenses and space considerations involved in paper-based record storage. These days, Electronic Data Interchange had become increasingly vital as a tool for companies to buy and sell products.
Because of the competition, each company or business firms have their own strategies on how to make their business grow. And for small and starting businesses and even the big companies are using internet as their primary tool to reach the global market. Using internet in promoting is business according to ezinearticles.com will help your business to:
• Market Penetration
Since millions and millions of people have access to the internet, people who are searching for products and services can possibly and easily access your products and offered services. Your business can also stay open for 24 hours which gives more visibility that creates more opportunities to increase your costumer.
• Low Cost, Instant Communication
With the help of internet and the services it offers instant communication is possible. The Emial for example, this makes different companies or business firms communicate with one another instantly disregarding the place where you are in.
“ It makes it easier for customers to maintain contact and readily facilitates repeat purchasing. An effective online strategy can therefore turn a small web business into a virtual cost saver and income-generating machine. The net result is that the small business can gain significant competitive advantage in a given market.”[/i] Accordingly, “[i]Many online businesses have therefore resorted to the use of ezines, blogs, pop-up ads and other online marketing tools to let customers know about new products or services as well as provide information relevant to their respective industry. The benefits of this strategy are two fold. Marketers can effectively heighten brand awareness for relatively new products on the market whilst strengthening customer relationships, with shorter time frames.”
• Content is Timeless
"Internet Promotion also provides the advantage of being enduring. Whereas participation at a trade fair or conference loses sales impact, once it is over, and an advertisement in a newspaper or business magazine may quickly lose its sales generating value within a day or two or as soon as the next issue is released; Internet Promotion is often timeless. Apart from the dates and sometimes prices, much of your website content remains valid years after."
• Real Time Statistics For Measuring Success of Promotion Campaign
"One of the most significant advantages of Internet Promotion is that its success is measurable. Marketers can use tools that provide real time statistics, on unique visitors, repeat visitors, click through rates (CTR) on advertisements, thereby allowing them to evaluate the effectiveness of a promotion campaign. This enables marketers to determine what works for their particular market and to make timely changes in their marketing strategies."
• Time Saving
"Another important advantage of Internet Promotion is that it saves time since it generally does away with counselling on product uses and benefits, service information and sales administration. Visitors can access "frequently asked questions" to help themselves, and can buy online, without the involvement of staff. This saves time and money. So, whether 10 or 10,000 visitors visit the site, the increased cost is marginal whilst the savings can be immense."
Internet indeed plays a very important role in business today, especially to the companies in order for them to stay competitive with other companies. As what I have researched, with the help of internet the companies would be able to increase of productivity, save time and money, provide better reputation, shorter supply chain times, reduced supply chain costs, Access to a wider range of business customers are only some of the advantages of doing business to business e- commerce. Companies who are using internet as a tool in their business surely will be competitive enough to race in the global market.
Internet is the finest tool in these days specially in doing business. It is mostly used for advertising, for doing competitive research, for providing customer service, in education and training, for job hunting or employee hunting, for shopping online, and for news services. There are many advantages we can get if we use internet in doing our business. According to engineeringtalk.com, the major advantage of using internet in doing business is that because the information of the products and the selling of products are interwoven like never before. The internet also enables a company to showcase its products and provide up to date information, specifications and applications about the product. This made it more attractive to customers to buy the product. The information provided on the internet can be changed or be updated instantly. You can sell or order products anytime. Compared to traditional selling methods, web based transactions are faster and more convenient for a business that is with the use of the internet.
The internet transform the way how business works. Since the evolution of the internet many are using it specially in running a business because of the benefits a company and an individual get from it. Most of the big companies have their own system to run their business over the internet. These systems provide them better strategies in order for them to be more competitive in the business and make increase their sales. For instance e-Procurement or electronic procurement which is also known as supplier exchange, this is system used for making purchases online. Through internet companies are now capable of selling and purchasing of products and services. E-procurement connects companies and their business processes directly with suppliers and manages the interaction between them. With the usual interactions includes for looking for a buyers or a sellers of goods and services in which buyers and sellers may spell out costs or invite bidding and questions and answers. According to epiqtech.com a good e-procurement systems helps companies and business firms to organize their interactions with most crucial suppliers. It also provides a set of built in monitoring tools which helps control costs and assure maximum supplier for the users of this system. It also provides an organized way to keep an open line of communication with potential suppliers during business process.
There are seven types of e-procurement according to Wikipedia, those are:
• Web based ERP (Electronic Resource Planning)
Creating and approving purchasing requisitions, placing purchase orders and receiving goods and services by using a software system based on Internet technology.
• e-MRO (Maintenance, Repair and Overhaul)
The same as web-based ERP except that the goods and services ordered are non-product related MRO supplies.
• e-sourcing
Identifying new suppliers for a specific category of purchasing requirements using Internet technology.
• e-tendering
Sending requests for information and prices to suppliers and receiving the responses of suppliers using Internet technology.
• e-reverse auctioning
Using Internet technology to buy goods and services from a number of known or unknown suppliers.
• e-informing
Gathering and distributing purchasing information both from and to internal and external parties using Internet technology.
• e-marketsites
Expands on Web-based ERP to open up value chains. Buying communities can access preferred suppliers' products and services, add to shopping carts, create requisition, seek approval, receipt purchase orders and process electronic invoices with integration to suppliers' supply chains and buyers' financial systems.
More companies are using this system because of the benefits they get form it. Initially, e-Procurement system is standardized and easy to use. Other advantages includes in getting the right product from the right supplier and to the right buyer which is also with the right price and the quality of the product. The e-procurement system also allows multiple access levels and permissions which helps managers organize administrative users by roles, groups or task. It also help out the decision making process by keeping relevant information organized and time-stamped. The e-procurement system also takes the supply chain management to the next level and provides real time information to the vendor as to the status of a customer's needs. In addition, a Well-managed e-procurement system will help reduce inventory levels. Knowing product numbers, bid prices and contact points will help each business close a deal to other companies.
Some companies are using EDI or Electronic Data Interchange. EDI is the transfer of data between different companies which enables electronic trading with business partners. More and more companies get connected online and use EDI as a tool in doing their business because of the advantages they get from EDI. To begin with, EDI eliminates the need for re-entering data. By this means, the accuracy and speed of the transaction increases while significantly reducing the cost of expense. EDI also allows business transactions to take place in less time and with fewer errors. It also reduces the amount of inventory companies must invest in by closely tying manufacturing to actual demand, allowing for just-in-time delivery. EDI also reduces postage costs and the expenses and space considerations involved in paper-based record storage. These days, Electronic Data Interchange had become increasingly vital as a tool for companies to buy and sell products.
Because of the competition, each company or business firms have their own strategies on how to make their business grow. And for small and starting businesses and even the big companies are using internet as their primary tool to reach the global market. Using internet in promoting is business according to ezinearticles.com will help your business to:
• Market Penetration
Since millions and millions of people have access to the internet, people who are searching for products and services can possibly and easily access your products and offered services. Your business can also stay open for 24 hours which gives more visibility that creates more opportunities to increase your costumer.
• Low Cost, Instant Communication
With the help of internet and the services it offers instant communication is possible. The Emial for example, this makes different companies or business firms communicate with one another instantly disregarding the place where you are in.
“ It makes it easier for customers to maintain contact and readily facilitates repeat purchasing. An effective online strategy can therefore turn a small web business into a virtual cost saver and income-generating machine. The net result is that the small business can gain significant competitive advantage in a given market.”[/i] Accordingly, “[i]Many online businesses have therefore resorted to the use of ezines, blogs, pop-up ads and other online marketing tools to let customers know about new products or services as well as provide information relevant to their respective industry. The benefits of this strategy are two fold. Marketers can effectively heighten brand awareness for relatively new products on the market whilst strengthening customer relationships, with shorter time frames.”
• Content is Timeless
"Internet Promotion also provides the advantage of being enduring. Whereas participation at a trade fair or conference loses sales impact, once it is over, and an advertisement in a newspaper or business magazine may quickly lose its sales generating value within a day or two or as soon as the next issue is released; Internet Promotion is often timeless. Apart from the dates and sometimes prices, much of your website content remains valid years after."
• Real Time Statistics For Measuring Success of Promotion Campaign
"One of the most significant advantages of Internet Promotion is that its success is measurable. Marketers can use tools that provide real time statistics, on unique visitors, repeat visitors, click through rates (CTR) on advertisements, thereby allowing them to evaluate the effectiveness of a promotion campaign. This enables marketers to determine what works for their particular market and to make timely changes in their marketing strategies."
• Time Saving
"Another important advantage of Internet Promotion is that it saves time since it generally does away with counselling on product uses and benefits, service information and sales administration. Visitors can access "frequently asked questions" to help themselves, and can buy online, without the involvement of staff. This saves time and money. So, whether 10 or 10,000 visitors visit the site, the increased cost is marginal whilst the savings can be immense."
Internet indeed plays a very important role in business today, especially to the companies in order for them to stay competitive with other companies. As what I have researched, with the help of internet the companies would be able to increase of productivity, save time and money, provide better reputation, shorter supply chain times, reduced supply chain costs, Access to a wider range of business customers are only some of the advantages of doing business to business e- commerce. Companies who are using internet as a tool in their business surely will be competitive enough to race in the global market.
Reference :
1. http://www.engineeringtalk.com/news/wib/wib101.html
2. http://www.talltech.com/student/BusinessOnNet/sld029.htm
3. http://managementhelp.org/infomgnt/e_cmmrce/e_cmmrce.htm
4. http://www.innovise.com/page/120/what-is-edi.htm
5. http://www.webopedia.com/TERM/E/EDI.html
6. http://ecommerce.hostip.info/pages/380/Electronic-Data-Interchange-EDI-ADVANTAGES-EDI.html
7. http://student.dcu.ie/~lawlesc5/E_Commerce.html
8. http://www.websoftwareoutsourcing.com/b2bdevelopment.shtml
9. http://en.wikipedia.org/wiki/E-procurement
10. http://www.epiqtech.com/e-procurement.htm
11. http://ezinearticles.com/?Internet-Promotion---Advantages-and-Disadvantages&id=53561
2 comments:
Web Based ERP - Ess India offering web based ERP,Browser Based ERP Software in India,Web ERP solution,CRM software india,Web Based ERP Solutions from India.
Having the internet, it will help to save up resources.
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