benefits

E-Commerce benefits

The face of doing business both within Australia and overseas is rapidly changing. The Internet, electronic funds transfer, e-commerce and the like have brought with them both opportunities and threats.

Your business competitors may no longer be just the business down the street, but a business located in any number of places around the world.

The flip side of course is that your potential market is now not just your local area, or even Queensland, but cashed up consumers across the world.

E-commerce won't go away. On-line and Internet commerce is currently experiencing dramatic growth, and is expected to add 2.7% to Australia's GDP by 2007. Aggregate employment is also expected to rise by half a per cent as a result of e-commerce. It is now a truism that to stay in business in the new millennium, e-commerce will have to be a part of your business.

According to experienced organisations, the introduction of e-commerce can, if it's done correctly:

• lower transaction costs
• reduce inventory holdings
• provide a competitive business advantage
• expand one's market
• increase speed to market
• streamline supply chain management

E-commerce includes electronic trading, electronic messaging, electronic data interchange (EDI), electronic mail (e-mail), electronic catalogues, internet, intranet and extranet services.