Online transactions...

It is easy to think that because you have always done business with pen and paper, that nothing will ever change. Remember, the chances are your competitors know about ecommerce and as a result, you should too! Electronic commerce (ecommerce) and online transactions can:

  • Give you new ways to interact with customers, suppliers, and even employees.
  • Cut costs of administration.
  • Give you access to a worldwide marketplace.
  • Provide better information about your products and services.
  • Drastically cut your costs of communication.
Ecommerce may include any or all of the following:
  • Product and/or service promotion
  • Selling a product and/or service
  • Transferrence of data and/or information
  • Stock and inventory control
  • Monetary/financial transactions
This is only a brief list - the real possibilities are limited only by your imagination.Ecommerce may also occur between the following entities:
  • consumer-to-consumer (C2C) e.g. auction sites
  • business-to-business (B2B) e.g. business providing accounting services to other businesses
  • business-to-consumer (B2C) e.g. business selling books direct to the consumer
Generally, in order to venture into ecommerce, the best place to start is promoting your product/service and then selling directly either to other businesses or to consumers. Promotion has already been dealt with elsewhere on this site, however, actually enabling the transfer of funds and online payment for your product or service is discussed here. There are several ecommerce variations open to you. Your potential customers may:

1. Express interest via email or a feedback form.
2. Pay online with order fulfillment taking place after transaction processing.
3. Use real time transactions and order fulfillment.

There are a few main areas that you need to know about if you are to become ecommerce-capable. We'll cover each of these areas based upon the type of ecommerce.
 
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