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We think that e-business growth will continue explosively for some time.
It's impact on the early 21st century will be as great as the industrial
revolution was to the late 19th century and early 20th century. E-business
s revolutionary change of our society.
E-business is the transformation of vital business concepts such as customer
service, purchasing, distribution and promotion through the use of Internet
and computing technologies.
E- business strategy is the formulation, adaptation and execution of a
business plan in the new Internet economy.
Benefits of E-business
Still uncertain about taking the plunge into e-business? Discover ten
different ways e-business can touch every part of your organization and
increase your bottom line:
- Improved Customer Service
- Increased Customer Satisfaction
- Greater Customer Retention
- Lower Operating Costs
- Better Quality Products/Services
- Greater Business Efficiency
- More Competitive
- Better Business Intelligence
- Broader Market Coverage
- Fewer Administrative Errors
1. Improved Customer Service
As an e-business you're able to offer outstanding service to each and every
customer. Customers easily interact with your business 24x7x365 using
self-service applications over the Web. They receive personalized products
and services each time they visit. All of your systems are integrated, so
your organization is always equipped with accurate, timely information
necessary to quickly respond to their needs and queries.
2. Increased Customer Satisfaction
As an e-business you offer improved customer service and therefore increase
customer satisfaction. You know who your customers are, what they want, and
how to respond to, and anticipate, their needs. And, as a completely
integrated organization, you deliver your products and services faster and
cheaper than ever before. Increased customer satisfaction and e-business
come hand-in-hand.
3. Greater Customer Retention
Improve customer service and increase customer satisfaction, and you attract
and retain customers like never before. Only e-business enables you to meet
even the highest customer expectations and deliver on demand.
4. Lower Operating Costs
As an e-business you are not only more efficient, but realize unprecedented
savings as well. Taking full advantage of the internet (i.e. facilitating
self-service for your customers, employees, and business partners) you will
significantly cut costs in every area of your business, including:
- Information technology
- Customer service
- Data processing
- Human Resources
- Business administration
- Financial management
- Procurement
- Business-to-Business interactions
- Sales
- Marketing
5. Better Quality Products/Services
Not only do you lower operating costs as an e-business, but you actually
improve the quality of your products and services.
You have improved customer intelligence-so you know what your customers'
want, and you have access to suppliers around the world who bid for your
business-allowing you to pick and choose based on quality, price, date of
delivery, etc.
And because your value chain is completely connected (customers to suppliers
and suppliers to customers), your quality of service also improves-you
deliver exactly what is needed, when it is needed. You work online with your
suppliers to facilitate supplier-managed inventory, providing products and
services faster and cheaper than ever before.
6. Greater Business Efficiency
As an e-business your entire organization becomes more efficient. Your
systems are integrated, processes streamlined, and everyone is sharing the
same accurate, timely information. You realize greater business efficiency
because you:
- Implemented 100% internet technology
- Integrated all of your systems to create one comprehensive, connected value chain
- Consolidated your data and data centers
- Streamlined your administrative processes using self-service applications
7. More Competitive
You are operating in a global economy. You are giving your customers what
they want when they want it. You are providing personalized products and
services at the lowest possible price. You are accessible 24x7x365. You have
a 360 degree view of your company and a comprehensive view of your
customers. You have suppliers bidding for your business. You have the
business intelligence to make accurate, timely decisions and the ability to
monitor its impact across the enterprise. Your employees are focused on
relationship building, improving service, and benefiting the company. You
are more competitive than ever before.
8. Better Business Intelligence
Your supply chain, operations, and customer-facing systems are
electronically connected giving you a new extended enterprise supported by
suites of integrated, internet-enabled applications. As an e-business you
employ the information generated by these systems to more efficiently run
your operations and more effectively capture and retain customers. You are
now able to deliver insight throughout the organization, discover
opportunities quickly, better understand business risks, and better align
operations with corporate objectives.
9. Broader Market Coverage
When your home page is on the internet, you have a global audience. No
matter where your headquarters are located, your company is now accessible
to the entire world.
10. Fewer Administrative Errors
As an e-business, your employees, customers and suppliers all perform
transactions themselves using Web-based self-service applications.
Self-service eliminates intermediaries and delays and significantly reduces
administrative errors. No more data entry clerks. No more lost paperwork.
Transactions are now processed quicker, cheaper, and are much more accurate.
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