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

The importance of e-business

The integral nature of e-business has emerged as the world has embraced e-business methodologies and the importance of e-business technology as a means to increase efficiency within an organization and to understand how to trade better and smarter between nations.

It offers certain inherent advantages. Existing business and new e-business can exploit these built-in advantages to expand their markets, acquire grater business visibility, maximize customer relationships and increase responsiveness, create new products and services and reduce costs.

By providing a standardized way for businesses to communicate across national boundaries, e-business reduces the language barrier in international marketing.

It also acts as an important tool for gathering and distributing information on international markets and yields efficiency in processing payments and improving cash flows.

Advertising done well on the web can get even a small firm’s promotional message out to potential customers in every country. A firm can use electronic commerce to reach small groups of customers that are geographically scattered.
The importance of e-business

The benefits of E-Government

Governments are embracing the internet to provide services to business (G2B) and citizens (C2C), as well as government to government (G2G), citizen to citizen (C2C), government to supplier (G2S) and government to employee (G2E).

What is e-government? Electronic government is the process of transformation of the relationships of government with its constituents - the citizen, the business and between its own organs, through the use of the tool of Information nd Communications Technology (ICT).

The aim is to bring about enhanced access, transparency, accountability and efficiency in the delivery of government information and services.

The benefits of e-government usually include improved: quality of citizen services, internal efficiencies, law enforcement, education and information, promotion and outreach activities, safety and security, health care services and management, and  involvement of citizens in the democratic process.

Theoretically, e-government can result in significant cost reduction. This premise rests on the belief that the automation of processes reduces manpower costs, besides costs of accounting, compilations, reporting and review.

Product procurement and delivery, key elements in the supply chain, can be seamlessly integrated into e-government platform. Many believe that e-government can provide seamless services to draw agencies together, leading to more citizen- centric services.

It also increases trust in government.
The benefits of E-Government

The advantages of single database in organization

One of the reasons that organization were so slow to respond in the past was that they simply did not have a clear view of what was happening within their company.

The data was inconsistent due to different definitions, cut-off dates and measurement criteria. Data often partitioned into several disjointed systems, with each system having its own collection of files.

Large businesses (and countries) have been traditionally less efficient than smaller organizations due to the cost of coordination and the increase in bureaucracy to deal with large amounts of information. Delegation of authority to compensate for this factor has led to lack of control, lower efficiency and fragmentation of business.

The solution is a single, logical, and central database. When all the data for the various systems is stored in a single database, it gives everybody in the organization access to the same data at the same time. Many organizations are now bringing together all their separate systems to achieve this singular view.

Most data items are stored in only one file, which greatly reduces duplicate data. The data various users can be combined and shared among authorized users, allowing all users access to a greater pool of data.

The single database helps create an environment in which end users have better access to compare and better-managed data. Such access makes it  possible for end users to respond quickly to changes in their environment.

A single source of data gives the organization the ability to combine information across all business operations. Whereas managers used to receive a separate printed monthly report from each system, they can now obtain daily, or even hourly, electronic reports that give a single view of what matters, as it happens, across their entire organization.

Organizations that use database typically have security setting to define who can access, add, modify and delete the data in a database.

Chief executive can access a single dynamic report on screen to monitor their critical success factors and key performance indicators, such as sales, leads, liquidity, staffing or inventory levels.

These interactive reports allow the user, not just to monitor everything that is important to the company, but also to investigate variances and get immediate answers within a few mouse clicks.

In single database, when users modify data in the database, they make changes to one file instead of multiple files. Thus, the database approach increases the data’s integrity by reducing the possibility of introducing inconsistencies.

The availability of global information systems enables companies to maintain a functional structure on a large scale, which is more efficient, rather than creating multiple business units with complicated communication cycles.
The advantages of single database in organization

What is business intelligence?

Business intelligence is an architecture and a collection of integrated operational as well as decision-support applications and databases that provide the business community easy access to business data. It is about using yesterday and today’s data to make better decision about tomorrow.

The theoretical foundation of business intelligence can be traced back to the ancient philosophies of Sun Tzu who wrote about laying plans, tactics, maneuvering, the use of spies, etc, circa 300 BC.

Business intelligence is essentially timely, accurate, high value and actionable business insights, and the work processes and technologies used to obtain them.

Business intelligence can lead to:
Increased profitability
Decreased costs
Improved customer relationship management
Decreased risk

Enhanced business intelligence operations can be an important driver of future profitability. Information systems in general are viewed as ‘critical success factors’ by some executives and others view them as ‘strategic arsenals the core business’.
What is business intelligence?

Amazon internet business

Amazon.com works as a virtual retailer because it is more convenient, and the product itself it suited for the internet, and because the business model is different, it can sell at lower cost and still offer more selection.

Amazon used its early understanding of the internet to build partnerships with internet serves and popular websites.

Amazon also got authors and others involved through its associate program, which linked Amazon to individual websites and offered the associated a small commission.

The Amazon business model assumes that the expanding number of internet users will create a new mass market who value low prices and convenience and sill shop for a large number of their needs using the computer.

An online business is available to a much larger set of customer than would be possible if the customer had physically visits the business establishment.

By removing the overheads of a traditional bricks-and-mortar store Amazon.com is able to reduce the cost of supplying a product to a customer and so charge lower prices.

Furthermore, the business actually can improve customer service for example though online help desks.
Amazon internet business

The advantages of electronic spreadsheet

Spreadsheet is a simple worksheet consisting of rows and columns in which any data can be entered. It does calculations and other operation son the data entered in these rows and columns.

The concept of electronic spreadsheet started with software called VisiCalc, which appeared in the early 1980s. It offered a major advantage over traditional pen and paper calculation.

Microsoft excel is one of the most versatile and popular spreadsheet programs. It serves as an electronic pad for accountant. It can easily perform simple as well as complex mathematical operations.

In addition to its spreadsheet capability, Excel offers extensive graphics, database and word processing capabilities.

Spreadsheets are used for performing calculations, recalculating results, creating financial reports, comparing reports, etc. It is important tool used for analyzing and reporting information. Spreadsheets are often used in business for budgeting, inventory management, and decision making.

Electronic spreadsheets can be designed to replace most manually prepared documents, such as a cost sheet.
The advantages of electronic spreadsheet

What are the advantages of shopping online?

Shopping online has many advantages. It allows people to do more research and do more product comparisons than they could if they were visiting store or browsing through a catalogue.

Online shopping is very similar to catalogue shopping, except that we see the products over the internet. Browsing through a wide range of products online is comparatively easier than walking through the aisles in a physical store and examining the products.

Have a look at some of the reasons to shop online:
*Save Gas. Don’t have to drive to buy something, just saved money. This is applies to people who may live far away from shops.

*Save Time. Shopping on the internet is fast and easy. With few clicks the people can buy things while sitting in the comforts of the house or office and don’t have to hunt for parking outside a shop – saved a lot of time. This is also important especially for people who have difficulty moving around, dislike crowds or have no time to shop.

*Save Money. Purchases made over the internet are usually cheaper. Although the cost of shipping is added but the other overhead involved with setting up a traditional shop, like buying a shop in a commercial place, engaging a large sales field-force is not there.

*Things are delivered right to the door. Regardless of the weather, rain snow, thunder and lightening the order will be delivered right to the door. This is useful when the products that ordered are bulky or heavy. 

*The items are always the right size and color. Another important advantage of catalogue and online shopping is that products that are not always available locally can be bought from overseas.

Online shopping can be significantly more convenient for customers offering a broad range of products at competitive prices who sufficient product information.

*Reduce Greenhouse Emissions. Online shopping will put fewer cars on the road, thus fewer carbon emissions into the atmosphere. And that can only be a good thing!

*There is no closing time for online shopping. They are opened 24 hours a day, every day. People can shop anytime they wish. People who live in remote, rural areas and have limited access to shopping malls can especially benefit from shopping online.
What are the advantages of shopping online?