e-Market:- Basically, an electronic market is a website where companies can buy from and sell to each other using a common technology platform. They are the commerce sites on the internet that allow a large number of buyers and suppliers to meet and trade with each other. They are also known as electronic marketplaces, online […]
Advantages of a smart card:- Following are the advantages of a smart card:- More secure:- Smart cards offer more security and confidentiality than any other financial or transaction card on the market. They use encryption and authentication technology which is more secure than previous methods associated with payment cards. Safe to transport:- Another advantage to […]
Credit Transaction Trade Cycle:- Most inter-organizational trade transactions take place as a part of an established, ongoing trade relationship. The trade cycle for inter-organizational transactions is generally a credit trade cycle. The stages in the credit trade cycle are: Pre-sales:- Before trading starts, the two organizations need to make contact (search) and agree on trading […]
Disadvantages of EDI:-“Electronic data interchange (EDI) Is the electronic exchange of business documents in standard, computer-processable, universally accepted format between the business partners.” Following are the disadvantages of EDI:- Too many standards:- There are too many standard bodies developing standard documents formats for EDI. For example, one company may be following the x12 standard format, […]
Bitcoin is the world’s leading digital currency and continues to grow as people learn about its breakthrough potential as a peer-to-peer digital payment system. For a refresher on what Bitcoin is and other things you need to know about Bitcoin, check out the Getting Started page—a collection of essential Bitcoin information, guides, and reviews. How […]
An important aspect of EDI is the security of messages during the exchange. It should be ensured that the interchange of messages is reliable. Further aspects of security are: Controls in the EDI standards:- EDI standards include controls designed to protect against errors in the message and the corruption of message during the interchange. Controls […]
Business to Business e-commerce is the largest form of e-commerce. It is e-commerce between two organizations. It is also known as e-business and is experiencing an explosive growth rate on the internet. Companies are now mutually buying and selling products and services on the internet. Business to Business e-commerce (B2B) B2B e-commerce is more than a mechanism […]
Following are the benefits of EDI:- Speed:- Information moving between computers moves more rapidly and with little or no human intervention. Sending an electronic message across the country takes minutes or less. Improved problem resolution:- EDI responds quickly to business enquiries and transfers of documents with an automatic audit to ensure accuracy and consistency. EDI […]
Direct marketing is a very popular and widely method of informing people about products and services in order to make sales. It’s a method of contacting customers and potential customers personally. Using e-commerce, companies provide credit and electronically buying facilities to a customer in order to facilitate the customers and to attract the attention of […]
E-commerce: – 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. E-commerce is the use of electronic communications and digital information processing technology in business transactions […]
