Good To Know About ''E-BUSINESS''

              E-Business (electronic business) is using technology to improve your business processes. This includes managing internal processes such as human resources, financial and administration systems as well as external processes such as sales and marketing, supply of goods and services and customer relationships.

The way in which you manage your business relationships has not changed but the way they are referred to when using eBusiness tools has. They are becoming more often known as:

• Business to business (B2B);
• Business to consumer (B2C) (also known as eCommerce);
• Government to consumer (G2C); and
• Government to business (G2B).

Activities using eBusiness tools include:

• Trading of goods or services online, such as eProcurement, primarily through websites
• Electronic retailing (eTailing)
• Use of the internet, intranets or extranets to conduct research and manage business activities
• Web site marketing
• Online communications, such as email
• Online training for staff (eLearning).

eBusiness tools include:

• Mobile phones
• Personal digital assistants (PDA)
• Electronic Data Interchange
• File transfer
• Facsimile
• Video conferencing, internet, intranets and extranets.

E-Business And Your Business 

            E-Business is more than having a website for your business. Using eBusiness tools can make your administrative and operational activities more efficient through:

• Accessing the Internet to source information about your industry, suppliers and products and for general research
• Streamlining your 'traditionally' physical transactions into electronic transactions, for example online banking, financial management, stock control and compliance reporting to regulatory bodies such as the tax office
• Purchasing and selling without a web presence by using email or eFax
• Human resources management, through the development of an intranet for news, policies, staff movements and enabling staff to apply for leave and access their personnel information online
• Customer relationship management, which integrates front and back office functions of an organisation through electronic capabilities
• Using appropriate project management software.

Advantages

                 The benefits of implementing eBusiness tools is not so much in the use of technology, but in the streamlining of business processes and the ease in finding new markets. Some of the advantages and disadvantages include:

• Quicker and easier communications
• Strengthened marketing capabilities and reach
• Increased hours of operation (a website provides 24 hour 7 day information to existing and potential customers)
• Access to broader information through research
• Reducing the cost of doing business by lowering transaction costs and increasing efficient methods for payment, such as using online banking and reducing stationery and postage costs
• The opportunities to adopt new business models and develop tailored customer support.

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