Electronic Commerce increases Profits :
Electronic commerce increases sales and decrease costs. Advertising on the web reaches all the users of that website. A firm can use the web to reach communities which are scattered geographically.
The web's natural advantage is that it is low cost medium for disseminating information and processing transaction. for e.g the cost of advertising on the web is much less as compared to advertising in a newspaper.
Another benefit of web based commerce is that information based industries excel here. A virtual organisation increases efficiency through the automation of processes.
The cost of handling sales inquiries and determining product availability can be reduced with the help of e-commerce in the marketing process of the business.
E-commerce increases the speed and accuracy with which businesses can exchange information which reduces costs on both sides of transactions.
Another Advantage of e-commerce is that it provides buyers with a wider range of choices than traditional commerce. this is because the buyer can consider different products and sources of produce and service from many sellers.
The e- commerce tools are being used to change the methods of governance. Information can be retrieved, forms can be filled and returns can be filed electronically.
E- commerce can help protect against fraud and theft losses because electronic payments are more secure than payment by cheque or handling cash.
E-commerce allows people to work from home, also products and service can be made available to people located in remote areas.
Disadvantages of E-Commerce
Some business process like jewelry and food items may not be properly sold over the net.
In case of e-commerce costs and benefits are hard to quantify as technology changes are frequent.
Fraud cannot be totally eliminated in case of e-commerce.Cyber laws are not properly enacted and the existing ones are not clearly defined.
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