TOP FIVE BENEFIT OF e-BUSINESS||best and top e-business benefits that you should know

TOP FIVE BENEFIT OF e-BUSINESS

Ease of formation and lower investment requirements: Unlike a host of procedural requirements for setting up an industry, e-business is relatively easy to start. The benefits of interest technology accrue to big or small business alike. In fact; the internet is responsible for the phrase: ‘networked individuals s and firms are more efficient than networked individuals.’ This means that even if you do not have much of the investment (net worth) but you have many contacts (network), you can do fabulous business.

Convenience: Internet offers the convenience of ’24 hours X 7 days a week x 365 days’ a year business that allowed Rita and Jon to go for shopping well after midnight. Such flexibility is available even to the organizational personnel wherever they are, and whenever they want to do it. Yes, business is truly a business as enabled and enhanced by electronics and offers the advantage of accessing, anywhere, anytime.

Speed: As already we know, much of the buying or selling involves exchange of information that the internet allows at the click of the mouse. This benefit becomes all the more attractive in the case of information-intensive in the case of information-intensive products such as software, movies, music, e-book and journal that can even be delivered online.

Global reach\ access: The Internet is truly without boundaries. On the one hand, it allows the seller to access the global market; on the other hand, it affords the buyer the freedom to choose products from almost ant part of the world. It is not an exaggeration to say that in the absence of the internet, globalization would have been considerably restricted in scope and speed.

The moment towards a paperless society: Use of the internet has considerably reduced dependence on paperwork and the attendant ‘red tape’. You know the Maruti Udyog does bulk of its sourcing of supplies of materials and components in a paperless fashion. Even the government department and regulation authority are increasingly moving in the direction moving in this direction whereby they allow electronic filing of returns and reports. In fact, e-commerce tools are effective reforms aimed at speeding up the process of granting permissions, approvals, and licenses. In respect of, the provisions of the Information Technology Act 2000 are quite noteworthy.