Electronic business, or e-business, is the application of information and communication technologies (ICT) in support of all the activities of business. Electronic business methods enable companies to link their internal and external data processing systems more efficiently and flexibly, to work more closely with suppliers and partners, and to better satisfy the needs and expectations of their customers. E-business involves business processes spanning the entire value chain: electronic purchasing and supply chain management, processing orders electronically, handling customer service, and cooperating with business partners. E-business can be conducted using the Web, the Internet, intranets, extranets, or some combination of these. Electronic Business is a broader definition that includes buying and selling, plus servicing customers, collaborating with business partners and conducting electronic transactions within an organization.
E-Business Applications can be divided into three categories:
- Internal business systems:
- Customer Relationship Management (CRM)
- Enterprise Resource Planning (ERP)
- Document Management System (DMS)
- Human Resources Management (HRM)
- Enterprise communication and collaboration:
- VoIP (Voice over Internet Protocol (VoIP) is a methodology and group of technologies for the delivery of voice communications and multimedia sessions over Internet Protocol (IP) networks, such as the Internet. Other terms commonly associated with VoIP are IP telephony, Internet telephony, voice over broadband (VoBB), broadband telephony, IP communications, and broadband phone service.)
- Content Management System
- Voicemail
- Web Conferencing
- Digital work flows (or business process management)
- E-commerce
- Buying and selling of products, services and information via computer networks, primarily the Internet.
- It focuses on the use of ICT to enable the external activities and relationships of the business with individuals, groups and other businesses.
- Electronic commerce is generally considered to be the sales aspect of e-business.
Electronic Business draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems.
E-Business Enabling Technologies
- wireless security- Wi-Fi, Bluetooth, infrared etc.
- mobile payment
- location-based services
- mobile data management
- RFID technologies.
Emerging Trends in E-Business
E-Marketing
E-marketing refers to the use of the Internet and digital media capabilities to help sell your products or services. As with conventional marketing, e-marketing is creating a strategy that helps businesses deliver the right messages and product/services to the right audience. It consists of all activities and processes with the purpose of finding, attracting, winning and retaining customers. What has changed is its wider scope and options compared to conventional marketing methods. E-marketing also embraces the management of digital customer data and electronic customer relationship management (ECRM) and several other business management functions. It includes the use of a website in combination with online promotional techniques such as search engine optimization (SEO), search engine marketing (SEM), social medial marketing (SMM), interactive online ads, online directories, e-mail marketing, affiliate marketing, viral marketing, content marketing and so on.
ERP
It integrates The information across functions and provides a set of tools for planning and monitoring the various functions and processes. It helps integrating business activities as inventory control, order tracking, human resources, finance, production, sales etc.
E-CRM
Electronic customer relationship management is the application of Internet-based technologies such as emails, websites, chat rooms, forums and other channels to provides an avenue for interactions between a business, its customers and its employees so as to achieve CRM objectives, sales, customer service and support (CSS) and marketing initiatives. It can support a seamless customer experience and maximize customer satisfaction, customer loyalty and revenue. It enables businesses to customize products and services that meet the customers’ individual needs. It helps in mapping customer’s activity analysis consisting of exploratory activities as showing the customer’s navigation, shopping cart, shopping pattern and more.
E-SCM
Electronic Supply Chain Management (e-SCM) is an optimization of business processes and business value in every corner of the extended enterprise – right from your supplier’s supplier to your customer’s customer. It uses e-business concepts and Web technology to manage beyond the enterprise, both upstream (suppliers) and downstream. This strategic approach unites all the steps in the business cycle, from initial product design and procurement of raw materials, through shipping, distribution, and warehousing right up to the point when the finished product is delivered to the customer (distribution channel).
Mobile Commerce
Any electronic transaction or information interaction conducted using a wireless, mobile device, and mobile networks. Business transactions and payments are conducted in a non-pc based environment. M-Commerce is not about selling products and services on a mobile device. It is the transmission of data without wires on mobile devices like laptop, smartphone, tablets etc.
Wireless Fidelity (Wi-Fi)
It represents a collection of related wireless technologies and is an emerging industry standard that makes it possible for hardware firms to create wireless products. The appeal of Wi-Fi is for home users as well as in business. E-Commerce continues to grow at phenomenal rates, although most of the development involves wired infrastructures. It enables Wireless work environments, employees help companies reach suppliers and improve customer service and smart environment with no more handwritten reports or bills.
Data Mining and Intelligent Agents
It is the process of searching a large database to discover previously unknown patterns. It automates the process of finding predictive information and discovers previously unknown relationships among data. Companies believe that many of their customers follow patterns of behavior that the company does not yet recognize, and so, cannot take advantage of. Data mining must be integrated into the E-Business systems with the appropriate data from the transaction processing system to the data warehouse and vice versa.
Intelligent Agents are AI enabled programs used extensively on the Web to perform tasks such as retrieving and delivering information and automating repetitive tasks. Some software agents can track ratings of buyer and seller reputations, create and search databases of all kinds of buy-sell transactions on the Web. Software agents can be used in E-commerce to support tasks such as comparing prices, interpreting information, monitoring activities and working as an assistant.
Ms. Palak Gupta
Assistant Professor
