a 30 INTRODUCTION avantages of using e-commerce in business are motivating k nesses to use E-Commerce for their business. Various business ress gich as retail, wholesale and manufacturing are using E-Commerce pus —— E-COMMERCE APPLICATION IN BANKING INDUSTRY re New information technologies and emerging business forces havetriggered gnew wave of financial innovation ~ electronic banking (e-banking). The fanking and financial industry is transforming itself in unpredictable ways, gwered in an important way by advances in information technology. Gnce the 1980s, commercial banking has continuously innovated through fecimology-enhanced products and services, such as multi-function ATM, le banking, electronic transfers and electronic cash cards. Over the past yed a critical role in providing online the Internet has clearly played 1ew channel. In the internet age, decade, erspace is an inevitable envices and giving rise to a complete he extension of comm cial bankii development. Ebanking creates unpreceden ways they organize f 2lopment, ypportunities to banks, it marketing via the intern also poses many challeng; on of IT applications, the During of market boundari f industrial barriers, the e of new business models. or the banks in the delivery and pidly increasing with the entrance of new competitor Now the speed and scale of the € petvasiveness of the inte: ¢ ension of information economy. 9.4 -ayment Systems: The m fer and P? ¢ financial F of bills: Payment rarer of FOS Remittances’ ‘Applications Gettlement through th At least one of the major commer) B e-commerce product direaly eal oduct selection, purchase onigs aia 1 services including for letters of credit; and e MAS Electronic Payment involving P | \ | itswebsite id payment. However, integrated Bap ae ie vices are not as yet generally available directly front, banks. as Securities Placement and Underwriting/Capital Mati o Lowe * activities: Most commercial banks offer securities servigg at have seine payment for shares and subscriptions for intial pu, both a euings directly though their websites. However mp o NG Sophisticated online brokering services are generally onljatii geo through the banks’ share-broker subsidiaries tra «Securities Trading: A full range of online securitis senieai i provided by the specialist securities subsidiaries of the ma « ForBu ¢ommercial banks including online trading, om © Retail Banking: All of the major commercial banks mm established websites for retail services. Typically such sitesi v offer the following services : 0 A full range of personal account services, including fort currency accounts; | % © Funds transfers; 0 Bill payments; J aLesser paperwork: Digital records reduce paperw. make the process easier to handle. ‘Abo tt won friendly. , it is environment Reduced fixed costs: A lesser translates into a lower fixed ar oe More loyal customer: Since e-banking services are custom, friendly, banks experience higher loyalty from its ee For Customers Convenience: A customer can access his account and ° transact from anywhere 24x7x365. o Lower cost per transaction: Since the customer does not ery transaction, it saves him have to visit the branch for ev both time and money 5 No geographical barriers: In traditional banking systems Gistances could hamper certain banking geographical fansactions. However, with e-banking, geographical barriers are red ced. © For Businesses 9 Account reviews: Business owners and designated staff members can access the accounts quickly banking interface. This allows them 1 &°% activity and also ensure the smooth funel account o Better productivity: Electronic banking im productivity. It allows the automation of regular m payments and a host of other features productivity of the business. using an online iew the account tioning of the proves onthly,f the account activity e ; view Oo! “ , easy Te Tancial transactions. accuracy of ’ ” mt 7 fraud: Electronic banking provides 9 Reduced ‘11 employees who have the right to Sigita, footprint “vities. Therefore, the business has better Modify ankin a ante ransactions making it difficult for any frauds int play mischief intages of Internet Banking i ad by a fair set of advantages, but j . king is accompanied by a fair se eed Pepin Fine vr also comes with certain disadvantages. Some gf Fetings © in case of net banking are as follows: the ‘May Be Complicated For Be Who are new to the world of banking, e > Disadva Jook out for it ginners To Understand: For those ‘ online banking may pose gs slight challenge in terms of usage. While some banks dg | syst hic provide demos on their websites regarding the use of online | we ap? banking, there are many banks which don’t do that. In the latter enve ae case, an inexperienced user may be left to fend for him/herself Savas i ¢ No Online Banking Without Internet Access: In order to use Econ online banking, one needs tc 1 stable internet connectivity Both or access. Without one, th of online banking is of no cea use. Also, if the bank servers are down, one will be unable to phe access his account online to carry out transactions. ces: ae Transaction Security: One of the main reasons which still keeps . a lot of customers from using internet banking is the safety of transactions. While all major and recognized banks will have a powerful security encryption in place for ensuring the safety of customer’s transactions, there have been instances where transaction details have been compromised. Though it is uncommon, but still can pose as a major threat. ¢ Securing the Password: When it comes to internet banking, account passwords are of crucial importance. For that reason, itFn the domain of customer servit ems, either railways, aixvray On peed end real-time frontend IT platforms eee integrated with Rodern railway systems must deal with pli siilence ing transportation vuters: i teh of goods. Moreover, the need of better i Bi ree e requirement of more pervasive rai ee ma sime information system is a crucial aspect oe ee weenget {inquiry about availability of ae of custome aaa Meals at stations Enidstatus Gf book ie ease ae on ee : Ieee re some O gat serves aS pees of customer satisfaction of railway pare pe, ey aze the most important facets for access to railway service huge and complicated railway network system such as India effic a abel can certainly make a diference Passenger ticketing and ae gates are being developed to be highly service oriented to veal Bie ofaccess” to customers. In present times, various travel information gstems are being integrated to mobile services. Adding to this, many By applications are being developed through which railway services Mabe accessed via mobile devices 4 » Advantages of E-commerce on the Travel Industry E-commerce has changed the w hole concept of travel and tourism. Both consumers and the industry are taking advantage of e- Bemimerce and expanding their busing for good. With this huge phase of expansion, the various advantages of e-commerce for travel Fd tourism industry are as follows Online Booking: C uustomers are no more required to visit offices and travel agents anymore. The svhole booking system i online with a feasible paymentsystem Every system works ve ild a increase put the integration of to build ans business. «© Managing affected rec almost six mon essions. A ¥ ths. E-commerceUMarket: E ie or acity but it is slob 5 wey now book their trips fons People nywhere, such as their office ‘homes. E-commerce allows to er erket around the world and provide Fee ees the clients even if they are located 9 fs : 7 feasi Accessibility: The planning and the strategy . Pee ries are now 2s\easy a8 Teaching, out to the market te eve Mean now get to know more about the cor ents travel Aeetnesr business accordingly. Apart from the bulk g ear nation. it provides to the ease of accessibility to jhe avantaBe customers and competitor behaviour. It makes it all easy fg, , A —- row together. com acu pee aie OMMERCE APPLICATION IN MANUFACTURING up oa star Manufacturers have nov gone from thinlang) about implementing . ‘ir an application of e commerce in manufacturing, or an online strategy, to i now seeing the industrial space executing internet.and e-commerce a applications asa way to grow ‘and acquire new business. This is the speed of manufacturing today as it applies to business. . aN g ; : in Manufacturing : > Application of E-Commerce Effective e-commerce lies in the ability to deliver a buyer-centric and, : engaging online experience that enables customers to interact and: transact with the brand and allows manufacturers to reduce administrative costs, increase sales and improve brand loyalty. Tis is achieved by reducing costs through the following means: e Ensuring a minimum touch, 100% accurate order in the least possible time ¢ Understanding customer needs and behavior to deliver specific marketing messages to influence decision makers os‘to: ‘aggressively adopt B2C and retail best practices Target customers with buyer-specific online promoti " otions, Jacommendations (testimonials, user reviews) oa oe Pi se | increase brand visibility by utilizing social media and content mMper eee marketing s © bul TS , Open new markets and channels through alternate business vie models, such as mobile commerce e > A easy fo, 4 ‘Advantagesof E-Commerce in Manufacturing Ecommerce is a way for manufacturers to experiment with new ae oducts without risking a significant investment. Instead of setting IG 4 F brick-and-mortar stores, or keeping inventory on hand, one can eNtin, start offering this new product on his new store by using e-commerce. egy, to » Direct access to customers: Besides having higher profit margins, Merce the firm will interact with customers, letting it learn from them Speed and fine-tune products. More prospects: A larger arena yields more sales possibilities, although one have to be acquainted of his existing distributors. “ant Potential problems can often be sidestepped by offering the andi products to a different market, so one 1S not competing with his ae current network This ¢ Opportunities to innovate: Finding customers outside the existing relationships also frees the company from the specs it have to adhere to now If a company have an idea for a Me - an act on the idea, allowing for product analysis an rs Wants. product, it c iteration over time fc ® Scalability: An effective application of manufacturing will enable the organization based on what its custome! cation of e-commerce it grow andPere anneal hipping costs, @ them, customer * ;ansparent freight shipping costs ang xg functions ~such 24 Fmply being order takers, and hen g shipping ~ jependent systems is eliminated, gh, to rekey date possibility of errors and improving Shipp? eam ing order throughput. data in ind 1s and increasi a Soot es and awareness: Just as e-commerce can jy. © onli’ rand awai . ae and industrial distributors find new Customer soft Bee chcip in nprove brand awareness in the market pla, 0 ne in it help imprc s . and improve the likelihood that the target audience will knoy oa who the firm is, we Analytics: The application of e-commerce in manufacturin, provides the perfect platform for an organization to launch E-retat comprehensive analytics campaign. Through e-commerce, cometimes manufacturers and distribut. a easure and evaluate “Tangle & marketing camp: es eff roduct mix, inventory gjgital BO turns, customer sales effectivenes stomer engagement ce ee ver befor eight shippiny aie a ee artation m Fr m truly can use data and ns to make better and | ons that impact the intangy bottom line. that m: > ide 9.4 E-COMMERCE APPLICATION IN RETAIL (E-RETAILING) P E-TAILING) Retailing is expected to change with the rapid development of new online sales and distribution channels that literally can be used from anywhere, anytime-from work, school, a hotel, car, or airplane. These developments i should impact retailing as much as the advent of strip malls, catalogue etailing, and TV-based home shopping. Almost every retailer is reProduct/Content Issues: What kind of products are suited for online retailing? lace. 0 Software Interface Issues: What kind of features will constitute an effective interface? What features make it easy to find and erg tion select items for on-line purchase? ow 9 Process Issues: What are the specific steps in the shopping nrocess from a consumer's perspective? What kind of processes P should companies develop to fulfil orders efficiently? ts of the sale of goods and services. ng va E-retailing essentially consis| 7 smetimes this isreferred as the sale of tangible and intangible goods. a ES dple goods can be divided into two categories: physical goods and y iil words. Intangible goods are the services offered by the companies. ygita’ & Fy - nt P f 1 goods w book, televisionleetianaian : Examples of physical goods wo 00k, a tel a et, a x machine ample al goods are software ecorder, a washing mz ° 1200 : nternet. The sale of 7 g. Examples of services ind music, which ma ipangible goods is som hat may be sold are ent stock prices, the inform iin, hich allows one to » Features of E-R Thus, itis dynamic ¢ The provision 0: browse throus 1s and linked ¢ The provision o feature that does not nal retailing, ch allows convenient goods h is a very important ® Theprovision of a shor utomatic price update. selection. An ability to provide asive purchasing circles) ee a jence. Itis convenient for nce, forthe cu is convent rove from shop to shop physica it The first of these i - , ave to m de he does not ha ee a 3 have go He is able 10 sit in front ofa tga . Fei Brenihe Pia dileamine’ the informsvoae goon second aspec ' i ome emhop has an opening time and aan formally, the traditi s K. Heme and the customer Cor only visit the Shop within gat periods, On the net the customer can choose at any time yi A site to examine the goods that are available and actually qe" = out his purchasing vfone’s own convenient time. The thitd ty ‘The fou of convenience that the customer gets is that he has access. on request earch engine, which will ‘actually locate the products that. oa eee and also the site wher’ they may be available = oe describe Rees re able, perhaps even date the sites where they may be availableatiy , Thene best price a Beersecondl type of benefit to Cus mers is better information market The Internet and the Wor eb are essentially provic communication med! that allc ilers to put on quite io extensive information related to thel ducts, whichis available to pre to the customers. . on The third type of benefit that tt mer gets is compel oti pricing, This is due to two fac _= o The first is lowered cos 1e retailer because he doesndt 9.55 ECON have to maintain a F cal showroom, he does not haveto The deliver these savings canbe passed canbe refe hire several shop assista' ‘on to customers in the fc iced prices.iness first of these is global reach. The re fi \e retaile fed ona ‘who are able to reach Ea eam Se, oe anywhere around the globe The aa leliver the goods of a purchase to noe ae mer. ‘The of course, reate The second benefit is bett ter cust d e . e stomer service. Fre ie of electronic interchange of messages ee eae int the retailer allow better communication bean ae and the retailer. These allow one to easily incase cea armmplaints. These also allow a much more rapid paca _ ime. than was possible in the days of faxes and postal mail. faxes and postal mai Omer 'y in ‘The third benefit is th na ements a3 have lower inventories.Thus, while Amazon ee Po ing million titles, it keeps an inventory of a few howard a ae files only. Therefore, the retailer has lower wareho esceag pe 4 The fourth benefit to the retailer is mass customization. Based he et mass customization with reduced time fe te or customize d produ ‘4 ¢ The next sdvantag sveted marketing. The retailer is now ; able to pick or fic targeted group of customers and direct marketing towat sce customers. The retailer is also able to y provide mor ded services in the way of better : information, add-or < to basic services, or add-on options 7 to products that he is selli t riler consists of different mew, forms The last advantag' able to utilize. of specialized stores that he is now =— OR SERVICE INDUSTRY ers OF other bu i to consume 5 ig a wide Tange ysinesses 9.5 E COMMERCE F the interne! The delivery of services via t can be referred to by the generic term of e+ There servicesby Gramans in office agencies and /or their branches. Th Trrpose here is that these services help to save time purport ser, bring convenience, and improve the quality oft Teimany cases, i-can result in a reduced cost for the consume: E-services that fall into this category include Bs o Banking (already discussed) 0 Stock trading 0 Education In some cases, this may bring a new dimension to the original service, enhancing and altering it. E-education is an example of this. It may also bring into the catchments new groups of consumers of the service to whom it might not have been previously accessible. E-stock trading and e-investing Trade, American Express Financial Several companies such as ks, bonds, mutual funds, ete Services, etc. allows to trade s on the internet. These companies offer one to trade at a very small cost compared to discount brokers or full-service brokers, This has resulted in these on-line trading companies grabbing an increasing market share. In response to this, discount brokers including Charles Schwab anc rvice brokers have also moved to introduce internet trading of stocks. The steps involved essentially are the following: 0 place a request to trade, say buy a stock 0 the system responds with current “on the web site” prices the internet trader has to confirm this trade or cancel it Several companies allow one to create a simulated portfolio, which one watches over time without actually buying of, °: of information to actually, ee one to trade, tl erable amount of information. The reduction in ble to stockbrokers as a result of intenied trading is ie aay an effect on other more traditional forms of . This has led to some traditional brokers also providi internet trading of stocks. a _» E-education ‘Anumber of e-universities are bei 1 ng spawned around the Again, three models can be seen: a 0 Pure cyber universities, su y , such as Jones Int iniversity J ernational © Traditional universities setting up new cyber vehicles for providing university education perhaps with otherbusiness partners. o Traditional universities offering courses themselves on the internet. There are a number of web-based technology tools for this purpose. An example is Web CT. A number of so called “open universities” that previously provided distance learning have moved into providing an internet-based version of their courses. These traditional universities have They can now reach a client base a number of advantages. that is outside their catchment. They also expect to be able to deliver these courses at a reduced cost; however, the jury is still out on this. Another advantage a traditional university has on the internet over a new pure cyber university is that it has an established brand name. There are a variety of issues that need to be explored carefully when preparing to deliver educational material on the internet and these include the following: 1. Does one use a distance learning student uses a PULL model to acquit model where the re the material?or for matchins Pee ces that fall into this cateBOrY include Jobs and employment sites ° o Travel Insurance 9 Loans including mortgage loans o Realestate sales o Brokers The advantage of this kind of matchmaking through the inj is that the ability to search electronically over a wider me satisfy the customer need and to more precisely meg . ed is greatly facilitated by both computerizationang customer nee communication ove This has perhaps been th greatest growt h in eservices applications, the customer w business specifies his requirement er the internet. which there has been th sentially, in most of thes ould be an individual gr n relation to the service search over its own databases The e-commerce site then does or over the internet using mobi 's, or over other databases | or web sites to look for one or more matches totes requirements. The information is then returned to the e-servit provider site to give the customer the required service. 9.6 E (E-AU An e-auctio (suppliers electronic consumer, against & This that goo > Ad Ar co© sites where one can get advice on §nd can post his resumes on the web recruiters who use the web si as Naukri.com. site to post available jobs, employers who list available jobs on the web sites information-selling on the web: Thi - 2: This gr ; information content of one sort or ee on commerce sites that provide on-line publishin; ee pased newspapers g such as web- o consultancy advice o specialized financial or other information ee pee : These provide internet-based access to videos, movies, electronic g; ic games, or theme sites. Thi “ oe sites. This E- feienainment sector is expected to grow rapidly in the next a years, with a convergence of TV and internet-based technologies. ‘A number of companies are gaining access to or have purchased 5f movies or other entertainment material with ing people to download this on the web. There Netflix, Hotstar etc that takes a nominal watch /download the movies available large inventor the view of allow are various websites ike fee and allows the user to on these sites. iternet rea — ic mee ECOMMERCE APPLICATION IN AUCTIONS a (E-AUCTIONS) ind al — 1 sellers (the auctioneers) and bidders to business scenarios) that takes place on an 1 occur business to business, business to and allows suppliers to bid online uublished ecification. transaction betw Ane-auction i fe (uppliers in business electronic marketplace ese consumer, or consumer to consumer, It car ze against each other for contracts against a P' 05 This kind of environment encourages competition, with the result that goods and services are offered at their current market value 2 > Advantages for buyers é ‘An e-Auction provides procurement professionals wit We =a competitively prices for their preferred products, pitching ipp!5 on a ‘core list’ of he complete ra Man focusing on the Com] bathe Oe arce from the winning supplied that the Buyer may pe buyer may find that the costs the comvnaging the project Jitweigh the benefits. ani > Advantages for suppliers i ally open, verse auctions are genera’) I ei businesses to compete in the e-Auction process. This ea in pa | e allow suppliers to compete in new sectors. A winning bid canje b i t ; usually centre’ enabling smaller or less yy 3 to more business, a5 ‘most buyers will look to source their ‘no products from their existing upplier, >» Disadvantages for suppliers : Suppliers that are determined to win the reverse auction may plan a bid that is too low for their business. As well as the cost oft product, suppliers need to factor in the cost of servicing the from delivery to invoicing. Vendors may find that inning could result in them making a loss on the contract. Overall it can be seen that the e-Auction has pros and cons fom buyerand supplier. The e-Auction is a very effective way of procurement, but it is based on price. Both parties must look overall costs of the contract to ensure it provides value too: IN LEAI 9.7 E-COMMERCE (E-LEARNING) The word “e” in e-learning specifies electronic. This means that: is an ce device or learning with the use of electronic technology. It includes learning by the means of computer OF APPLICATIONinication technology for the purp Jin regular kind of learni r " arning, the st routine in hich they have to si Tomes pct. The aration ofthe cass is xed Bhat i seed in class are also fixed. But this Toh ae ag. The toutine of e-learning is very toe ae ier sehen Rey vantandnerconien ne them what they want to study and for hy yee Bie fedeady. Yy ow much time they ‘Anytime access to resource: S : : Students need ac: xinds of resources These resources can ae nent diagrams etc. In e-learning, the resources are na aa the students at all the times of the day. So the pi them anytime and anywhere they want a ate result/feedback: In the case of regular learning, th paper and pen. These p: oe hence ener ese papersare then checked plete declared. This tekes a rk. The students have to wait alot for ful for them. It is net easy can Immedi: tests are taken by by the teachers. Jot of time and hard wo for the teacher alsc th apers. E-learning gives an advantage here. The te ;ken through online quizzes or rst conduct the test and f the teacher. Also, the hich becc the results wi some pre then cl rene result is obtain some cases, it is obtained just after the te More retent lar learning, Leaming is done by means r 1 the instructor and the students. Th a nology is very less am regular teaching method. But in the ca¥® ofe: jearning, there is a generons use of digital resource includ «Presentations, mulGireda includes images and videos ete With the use of such resources et to learn more. They i derstand betterine wane increases the read. 50 } the students get to which they see understanding a Cost effective: When a S| they have to go to the ins' than rather pility of the d retention 4 tudent is engaged titute reguldeal. There i NO Beane is no electronic devices, The stig Evia there is noneed for tra the schools so Peres ks the ing follows a greener APPrcach, i s d of learnis Beate pler learning, the spe= ae See ciaiuber of eeu valable and the number of —— Pit r dtime period of a class. Butin thegus | cet Pesends nas per the needs ofthestudag, oa Easy collaboration: When @ number of students work gadge fea ihe same topic, they face problems while they study an using the regular learning methods. E-learning gives thema va opportunity. They connect to each other at anytime ang start ePPOnere. They can share resources, discuss adil . No Torefore, e-learning is very beneficial for all the students pra stu wish to study in groups. wh Easy updating: In regular learning methods notes have tole " regularly updated by the students. This takes a lot of time Ril 3 in e-learning, notes are simply sent to the students. So theyare 3 automatically updated : t > Disadvantages of e-Learning No Control: In the case of regular learning, the learning . controlled by the teacher. The teacher motivates the stud study. Also, the teacher makes a regular routine for the This makes learning necessary for them. But in the ¢ earning, it is just the opposite. The control is in the hantery boring to study alone. Tt does not provide a regular interaction bet w Moreover, if there is no discussie stds they wil think only in one roston. They iin By what other people feel at the same topic and ne a re their views. ft be able to compa y dependent: E-learning depe depends si Pe pnology. computers are the basic = coats oo a Internet becomes the second necessity. When someone aie join e-learning, he needs to process a computer or a pile Jott met connection with a go speed, some spect ane = which are required to tur special kinds of Tae This becomes the investment for e-leaming But heal : I i a ne faults. In the case of a fault, e- Technolog’ resources gadgets may experience som eee be continue for a short while. These devices start. Moreover, these device the regular method of teaching, regular for the students. Therefore, the students get to kn ruse the theoretical knowledge, which they are lea he class, in the practical world, But in the case of e-learning ¢ is no practical session for the students. The students nay be provided with videos in which hown but that is not the practical use of their knowledge is $I ly explained until they it by sd first and then the proc rst and then the process of e-leaming could, ¢ require maintenance. No practical work: practice session enough. The practical cannot be full themselves. This is a great drawback bility: Every student's computer has. The resources which ate gent to the at is they have the same formats: Soa erly on one er may be Resource incompati different specifications students are the same tha resource which is working PFOP incompatible with the other one. comput‘4 Organization: Many companies are haunteg owas they struggle to place orders and by yedule. This disorganized Procell Be hard to chan Tead to exceptions. E-procure Pianswer as it can streamline purchasing and also reduce yy isk of exceptions in the buying process. Another advantage Piseppartunity of centralize purchasing ntrol: Online procurement helps the firm to) flexible in what it wish to Include as well as provide acta restrictions in tnanner. With the right e-procuremen, Software, a firm can limit 4 host of issues including accept srdered items, selected vendors, and prices from each vendor, ¢ Find of purchases done: By tightly controlling, these important Biementeiairm can maintain Cons) stency in order times and To semieewogue spending. In addition the online procurement Sodauare cam integrate smoothly with the existing systems to boost efficiency and Reconciliatior Improved O disorganization ses according to Sc ge and can Enhanced Co! an agile roblem in procurement rvoices. However, this in the background as is difficult to ather data 0m -procurement fers customizable a Reporting is mismatch between purcha 0 be ushi reconciliation issue tends t businesses tend to focus on ma generate reports on procurement historical approvals using a manual software can help to resolve this issue as it of reporting. ain tasks. Plus, as well as § systemthere are no user licensin; wg char} ion, the employees can save time ‘with this it productively on important tasks. Peet implementation and Updates: The best e-procus rn coy geome fortiessly switch over to the system without taxing its 1 can 4 Gat, to0 much. Plus, the cloud vendor automatically updates ‘atic 2rVieg tion des thi cog ORS sith upgrades the software on a regular b ices aN " ° gular basis, so the company ces 5 x jon’t have to worry about doing them manually. bie) integration with Existing Softwar E are: Top e-pr goftware solutions can integrate Seely wie 5 process automat au =. inted » fusiness process automation platforms. Many oni mney procurement software vendors also provide modul e cosy 8 Preamline financial tasks and handle capital pro ie : e ile capital projec ee fools work together which will make it sim aT oe the e-procurement produc "oa Be is Disadvantages of E-Procure to » Micromanagement: E-procuremen > be ieromanagement: Ey tware tools offer features ccess for detailec 4 assifica fe ification. However, the nen danger is omy ied away by # 3 oe ed away by the multiple a ustomiza a high number of fields 5 whic ld reduce the platform’s ant o n is to find the customization aa level 1 prise nt ns t e Time-Consuming Approva ins: The benetit of detailed ‘0 insight can 4 awback. The company’s reviewers may get bogged by rn take longer to review procurement t details and pass them to the next reviewer Therefore, it is Himinate such bottlenecks to ensure the approval essential t¢ chain does not get e Not Ideal for Direct blocked. Materials: E-procurement works best for purchasing catalog-based indirect materials such as office supplies. The company good ROL for purchases like these. However” e-procurement may purchasing direct services and materials. Thonline intimidating to newcom online advertising easy, by leveraging the pow > Advantages of e- is ost effective ways for be so i eB customers, and diversify, _ from PPC and paid ads ~ online advertisi ‘but it doesn’t have to be. WordStream may. lve helped thousands of busines fh and paid social advertising : so many options available splay advertising and in-2PP ers, and w fer of paid searc] for aP 50 EMER aper placements or TV spots, onling | 9.1 advertising Cost: Compared to newsP : ee ate oti xelatively inexpensive an Smee entenieeiierciare countless Ways to track the success nobusiness is smpaign, and with digital, thasneyg | Everyuns failure of an advertising ca ‘ been easier to connect the dots from an ad buy to the impact on a ride and ha the bottom line. Thea 1. Meo Instant gratification: The customers can see the ad, shop and buy (if products are sell online) without leaving home. Thatsor of convenience is hard to tol ure is created, the company have to printand 3 ss s ( ane beat Testing: If a broch distribute it before measuring response On the Internet, response: (or lack of response) is lightning fast. Also, since its relate simple to switch outbanner ads, onl to test creative campaigns and fine tune increase effectiveness of the campaign and enhai Geo-targeting: Online advertising gives the ability tog the ads, ensuring that they are only viewed, and clicked, intended geographic and niche audience. This allot Sees to create localized messages that appeat OM sites. ine advertising gives theabill messaging. This canliep = ince results:n is to develop ‘While the vast majority of Americans are active on re still a number of people out there who are relying on tmjitional forms of advertising as a means to gather nee ‘on products and services. That’s why, in most cases, onlin Sivertising campaigns should run in tandem with other marketing efforts. Social ocial to : can be Too many choices: There are so many websites out there that it Makes can be hard to identify the ones that will most effectively target S Brow BE Giece The appropriate niche sites should] beaeaammam 8 for a particular product or service. sling IDUEMERGING TRENDS IN E-COMMERCE in today’s time, all thanks to advancement in technology nothing or SS or tebusiness is restricted to one place, one city or even one country anymore ever anything is global. In the past few years e-commerceindustry has taken jride and has come to become the need of the hour ton There are new trends emerging in this space, such as- nd 1. Moving to Mobile Commerce: As per a recent report, it is ort analysed that almost a third of the world’s population have access to Smartphone. Having this feature has become more ofa id necessity. E-Commerce stores must fit in all screens in order to e enhance customer experience or they may be losing on some: y serious business. As per recent study, 87 % of the gen-X people al devices every day than ever. spend most of their time on digit 2. Choose how to pay: Convenient emerging to facilitate new pay™ p ! shopping experience. ‘The businesses aim not only to make wider options available but also to increase payment <— buyers and sellers. In the past few years oan e gateways have emerged like & wallelay magnetic cards and cashback services. and more payment options are 9 enhance onlinec Many new featu Hes to facilitate seamless row offering easy On. the spot 9 counts and COUPONS 9, yyment Fipre debit cards Social E-commerce: Ret fend sales medium. Socle, fmportantroiein tne vers BP rade because of social Te etailers are adopting social media I network has come to play the wet jorid and more than 40 % purest ~ fia handles. ner than quantity? Retailers have come jg g that now having More variety will notwinthe |_| Paes iuiete focus has shifted to enhancing custo shopping experience by introducing new features. The empha ieeevmbeing laidion wrique on 1 atures like Virtual fg Beers zoom inipactures, 360 depres 6. Quality rat! understandin} mage view 7. Customer Relationship: Wit the increasing variety availabe ihe customerloyalty isnow completely 0} t of picture. Itrequine well integrated te supporting easy payments and high tech shopping experience w being, shifted from discounts to better int f vices, echnolog; ne shopping, people be with the concept of of their owm space Il be a rise in customer 8. Customer service: Witl are becoming more choosing amongst great variet anywhere, anytime 24 support service feature in th Vith more shopy and payment options 9. Smarter Customers: than ever, customers are more the stakes are much higher. It is utmost trust now than ever, but snd empowered n0W mportant to Wintel ality and logisticsnolo ‘ to survive and make a mark in to 4 ‘pe extremely flexible and mouldable tov mers changing needs. It requires tools like a itoring, customer feedback & so on. REVIEW QUESTIONS Commerce applications in the following industrieat F gi. explain the e- a) Banking b) Travel c) Manufacturing d) Retail e) Service | f) Advertising | g) Procurement | h) Learning i) Auctions Q2. Mention and explain the various emerging trends in e-Comt