E-business - be a part of the change

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SME Times News Bureau | 05 Apr, 2011
Couple of years ago internet was just a tool to send e-mails and search the web. But with the changing India, Internet has become a hub of e-business.

Companies now, instead incurring huge expenditure on setting up offices abroad or searching for global clients are using Internet to attract customers. They are taking the benefits of what B2B portals have to offer.

But this is not limited to international markets, with rising Software and hardware penetration and cheaper connectivity, e-commerce in domestic market is also picking up.

The domestic market is also picking up pace as India 's Internet-friendly population increased from 39 million to 100 million in the beginning of 2007. Already revenues from online trading in India stands at about Rs 2,300 crore and is expected to touch the Rs 4,000 mark in 2006-07. The demand is not restricted to goods but the services sector too, is also gathering speed.

With increasing PC penetration, lower computer and connectivity cost and higher net logging, the value of domestic and international e-business in India is all set to grow.

But in order to fully utilize the potential of Internet various stake holders, like corporates, the IT industry and the Government needs to come together to remove any existing gaps in the legal and regulatory framework.

E-business continues to evolve, addressing customer concerns about privacy and the security of online transactions. Net security systems now assure that there isn't any danger of breaching confidentiality. The Indian government, as well as several international organizations such as the World Trade Organization, the United Nations Commission on International Trade Law, and the International Organization for Standardization are working to define legal, taxation and intellectual property rules in order to build a global commercial framework that is fair, predictable and consistent.

BENEFITS OF E-BUSINESS:
(i) Access to markets, customers, suppliers, contacts
(ii) Quick access to international markets
(iii) Sharing of information
(iv) Greater efficiency
(v) Reduced costs
(vi) Time-saving

The Internet has changed the way many of us do business. At the touch of a button, consumers can now purchase goods and services from anywhere in the world. There are no geographical barriers to Internet trading. Businesses are increasingly recognising and harnessing the power of the Internet, satisfying the needs of a growing, demanding customer base.

Customers can browse through your products at leisure and then place an order immediately without leaving their PC. Not only does this offer new sales opportunities but you can also increase your customer base without having to open a new office or shop.

Without doubt, e-business has changed the very concept of doing business. Make sure you are part of this change.