People are rapidly becoming inclined towards the usage of technology, at home or work. Being more and more tech savvy that they are, it has become quite effortless for them to use electronically operated gadgets or online services. Resultantly, E-commerce and its related services have received a massive boost since they grant easier transactions, exchange of better quality products or services and accessibility all over the globe. E-commerce services have been exclusively used for the following purposes:
• Business Deals
Internet facilities have brought people all over the world together. A person living in one part of the world is facilitated with the option of reaching anyone living even in some remote corner of the world. Two business firms or a firm and a consumer get in touch through advertisements or website description and agree on making deals. The seller promises to dispatch goods while the buyer makes necessary payment facilities in return.
• Cash Transactions
Receipt and payment of cash has been made quite feasible, and swift, through facilities like credit transaction, ATM facilities, online payments through net banking and electronic fund transfer. Two people can swop cash in response to services availed or products bought, even when they do not meet in person, through E-commerce services. Conversion of currency facilities are also accounted for through E-commerce.
• Bill or Tax Payment
Individuals or business firms are blessed with an option of payment of bills through their e-bank accounts, while using their mobiles or laptops. This appeases the conventional reaction of panic or anxiety given to the difficulties faced during payments made in person, like having to skip work and especially go to the location of payment, spending lots of time while waiting in queues and technical problems. Even huge business firms have resorted to online payment of tax to the government since it involves minimal hassle.
• Reduction in Distribution Levels and Inventory
E-commerce suffuses the capability of contacting the prospective buyers or sellers directly. The attributes of the required products like their quantity, model type, quality and price can be discussed over the internet. When the parties involved come to a mutual agreement, a deal is affixed. The necessary goods are directly delivered to the mentioned destination. This reduces the intermediaries and the level of inventories involved. Goods do not need to be transported or circulated over a number of distribution levels. Hence, the requirement of go-betweens reduces drastically.
• Business management
E-commerce accommodates innumerous services like electronic data exchange between businesses, electronic fund transfer, internet marketing, online transaction processing and technological facilities. This makes handling business proficient and involves low key inconvenience. Back up of data and details regarding transactions is also disencumbered swiftly. Thus, efficient business management and organization is promised.
E-Commerce services are not only meant for the usage by huge business firms but also for small as well as growing firms and individuals also make turn to E-commerce services and avail their full benefits like ease of work, better prospectus, economic services and less involvement of time with full efficiency.