E-commerce means business

The evolution of networking technology has a dramatic effect on the way people communicate. Once arcane words and phrases like on-line, W...

The evolution of networking technology has a dramatic effect on the way people communicate. Once arcane words and phrases like on-line, World Wide Web and Internet have become part of our everyday language, it will usher in a new era in communication 8212; and with it, new ways of doing business.By any measure, electronic commerce is rapidly becoming one of the mainstays of the business arena, opening up new horizons for the increasing number of users with on-line access.

No one would argue with the basic concept underlying electronic commerce. Compared to traditional methods of doing business, on-line transaction-oriented communication offers significant benefits, including enhanced productivity, better service, and worldwide round-the-clock availability and faster access to a wider range of useful information. And small companies will have a way to level the playing field to compete against much larger organisations.

The most widely known focus of electronic commerce is centred around the World Wide Web,which is coming into its own as a marketing tool and an on-line repository of valuable information. Many companies have established a presence on the Web to market their capabilities and provide services to an audience that includes customers, suppliers, partners, employees and any other interested parties.

Integrating electronic commence into the sales and marketing mix goes well beyond simply selling products; it provides an efficient way to offer service and support and it establishes heightened connections between companies and their customers, suppliers, employees and partners. The result is better business interactions bringing companies closer to their customers and shareholders.

Today, electronic commerce is a competitive edge in a market focused on access to information. It takes much of the complexity out of everyday business interactions. It reduces lead times, saves money and enhances productivity, giving new meaning to the quot;faster, better, cheaperquot; model that is at the foundation of today8217;sglobal business. And it personalises communications by enabling users to interactively access the precise information and services that fit their particular needs.

The use of web-based applications has also enabled a range of customer self-service solutions that had not been possible via traditional customer/supplier interactions. Cisco partners, for example, can now electronically price, order and configure Cisco products through the Internetworking Products Centre.

In some cases, Cisco8217;s quot;customer satisfaction quotientquot; has nearly doubled from the levels it occupied prior to the start of the company8217;s electronic commerce services. This reaction clearly indicates that people do not need to be led into the new way of doing business; they actually prefer it.

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Electronic commerce is becoming more widely accepted, but we have barely started scratching the surface of its potential. The growth of this technology is exciting. Electronic commerce reduces lead times, saves money and enhances productivity for allusers by removing barriers for both business-to-business and consumer relationships. Inevitably, electronic commerce will soon cease to be a competitive advantage; it will be competitive necessity.

The author is the country manager India and SAARC Region of Cisco Systems.