Benefits of e-business

Electronic business is the use of internet-based information and communication technologies to conduct business including sharing information, maintaining relationships and conducting transactions within and between organizations.

Companies compete on cost and customer-focused performance factors such as quality, delivery reliability, design lead times and flexibility.

E-business processes allow for increased accuracy, flexibility and uniformity, making a firm’s operations more competitive by increasing productivity, decreasing costs and leading to increase market share.

Tangible benefits such as increased sales, decreased production time, and reduced waste can be estimated fairly accurately.

Other reason for e-business in a company are ability to reach new markets worldwide, reach and locate local customers and prospects more effectively, and having a shop front 24 hours a day, seven days a week, acquiring a new channel of business and integrated business processes.

E-business also reduce advertising and marketing costs, streamline order processing by taking orders on line and reduce communication and telephone costs.
Benefits of e-business