E-Commerce: Its Development and Future Perspectives

Name of Author

Institutional Affiliation

E-Commerce: Its Development and Future Perspectives

When e-commerce came into being, very few entrepreneurs and organizations were willing to embrace technology based approaches to business activities. In fact, a number of them believed it would be a mature ground for fraud, crime, and irrelevant activities. Regardless of these perceptions, e-commerce picked up and developed as a strong ground for transactions and business related activities. Today, millions of businesses use e-commerce for different purposes. Besides ensuring processes of transferring funds are quick, and secure, e-commerce aids sales, marketing, procurement, communications, and other basic business functionalities. Since the introduction of computers and associated digital appliances in business activities, business has become easier and quicker to do. Since more upgrades continue to take place in relation to e-commerce, this could only point to better achievements in the future.

Elements of communication are primary prerequisites for success in any business. This is because they ensure the delivery of critical information from distributors to suppliers and consumers. In the same way, they ensure that necessary feedbacks get top their origins. In the beginning, this was done by sending letters through postal channels. Considering the fact that mails had to be shipped manually, feedbacks would be received after numerous days. For a complete purchase procedure to be successful, it would take between four days to months, especially if goods had top be transferred overseas (NNNNNNNN). Still, the costs associated to communications were high and sometimes totally unsustainable.

As explained by (NNNNNNNN), the extraordinary ability of e-commerce to overcome these barriers is considerably its greatest scoring point. Besides making communications quick, it has availed quicker and user friendly options. Instead of manually delivered mails, today individuals can use short message services (SMS), electronic mails, and fax processes in transferring documents and information from one point to another. The greatest advantage of these elements of e-commerce relates to their speed and efficiency. Most of the communication is delivered instantly. Therefore, it is possible to get instant responses. Furthermore, the incorporation of chat provisions like Skype and Internet based voice calls have increased the effectiveness with which communication takes place.

Another analysis by (BBBBBB & BBBBBB) supports this perspective by indicating that most companies have resorted to building their own websites and marketing directly to customers online. One advantage associated to this is the fact that the number of social website communities have increased online tremendously. Examples of these include Facebook.com, Twitter.com, and Tagged.com. Alongside these, applications that get incorporated in form of electronic gadget software have also increased. A prominent example of such today is the case of Whatsap. A Software Application that aids transfer of texts, images and videos across different mobile networks across the world.

Finally, e-commerce has also availed options for making monetary transfers. Despite most of them being electronic, technology has managed to incorporate and make them compatible to traditional monetary transfer systems. Thus, one can easily transfer money from a Paypal or Payoneer account to bank accounts. Wire Transfers remitting money across international borders have also become outstandingly efficient, enabling transactions within less than an hour. In general, the emergence of different systems of transfer and their technological advancements have improved business tremendously. This is expected to be on an improving scale in the future.

References