What is eCommerce?
E-commerce is most often associated with online shopping but it’s much more than just buying products and service using the world wide web. However, shopping via the Internet is a small part of the bigger picture of e-commerce. This also encompasses business-to-business communication, transfer of funds, data exchange, etc.,
Area’s Kinnetik Solutions offers unparalleled solutions and services.
Benefits of E-Commerce
E-commerce offers a number of benefits for industries and most companies have been taking advantage of e-commerce for quite some time. Some of the main benefits of the utilisation of electronic means (besides the Internet, eCommerce also involves the use of other electronic technology) include:
- Easy and fast access to information/products/service. The world wide web gives the access to provide, information/products/services with ease and can be accessed from all over the world in seconds.
- Time barriers. eBusiness solutions allow immediate business-2-business and business-2-customer connections.
- Geographic barriers. A business/consumer can complete a transaction/purchase/sale from anywhere in the world where there is connection to the Internet and easily use for a hardcopy of the purchase.
- Lower operational costs. eProcurement requires fewer employees and fewer space which dramatically reduces the cost of operation.
- Greater competitiveness. The introduction of the Internet and its utilisation for trade and business worldwide tremendously increased competition on the global level. It’s also allowed the smaller businesses to become more competitive than they were in comparison due to lower cost of web marketing and market exposure.
- Access to the world market. Electronic technology, most notably the Internet gives businesses instant access to the world market.
Drawbacks of E-Commerce
Just like everything else in life and business, eCommerce has its drawbacks as well. However in our opinion the advantages by far outweigh the disadvantages. While this is generally accepted by all industries. It is highly important to be aware that:
- Utilisation of electronic technology for eCommerce reduces the cost of operation in the long-term but it can require a relatively high initial investment
- eCommerce increases the responsibility for security of transactions and private information
- Technological challenges may occur
In order to benefit from e-commerce, it is crucial to consider both the advantages and disadvantages discussed above. But considering that the whole world is or has “moved” online, the question isn’t whether or not your company needs an e-commerce solution but rather how to utilise it in order to boost your business. Thats where Kinnetik can assit you in converting YOUR efforts into YOUR successes, through our energy and IT solutions.