It can be defined as a modern business methodology that addresses the need of organizations, merchants, and consumers to cut costs while improving the quality of goods and services and increasing the speed of service delivery, by using the Internet.
E-commerce refers to a wide range of online business activities for products and services. It also pertains to any form of business transaction in which the parties interact electronically rather than by physical exchanges or direct physical contact.
Doing Business Online is Known as E-Commerce. E-Commerce describes the buying and selling of products, services and information via computer networks including the Internet.
E-Commerce is a particular type of e-business initiative that focused on individual business transactions that use the Internet as Business, as well as Business to Consumers.
E-commerce is buying and selling, marketing and servicing and delivery and payment of products, services and information over the internet, intranets, extranets and other networks, between an inter-networked enterprise and its prospects, customers, suppliers and other business partners.
It differs from traditional electronic commerce in the way that it enables the trading of goods from computer to computer. Business is done electronically and there is no need for physical currency or goods to conduct business.
The function included in e-commerce are:-
.Buying and selling of products.
.Shipping of products
. Producing Financial statements.
E-Commerce is a range of online business activities that include explaining products or services and providing a mechanism for customers to buy those products and services from a website or internet and it encompasses online shopping and online purchasing.
It Includes E-Trading, E-Franchising, E-Mailing, E-Engineering etc
The scope of E-Commerce can be enumerated as follows:
.Technology-Enabled
.Customer retention
. Support the Exchange.
.Accounting
.Supplier Integration