EDI: It is the structured transmission of data between organizations by electronic.
It is used to transfer Documents or business data electronically from one computer system to another computer system.
Computer-to-computer– EDI replaces postal mail, fax and email. While email is also an electronic approach.
The EDI process looks like this — no paper and no people involved in this:
It Offers global reach (across cultural/national boundaries).
It Operates according to universal standards (lowers market entry for merchants and search costs for consumers).
The growth and acceptance of credit cards, automated teller machines (ATM) and telephone banking in the 1980s were also forms of electronic commerce.
Save Time and Money : EDI is a tremendous cost- and time-saving system. Since the transfer of information from computer to computer.
Improve Customer Service : EDI is also a method of improving customer service. The quick transfer of business documents and marked decrease in errors allow you to fill orders faster.
End Repetition : EDI documents are stored in a mailbox. You can look at the documents in your mailbox at any time. If your customer wants a copy of an invoice, instead of calling you they simply check their mailbox
Improves Data Accuracy : it improve the accuracy of data and reduce the cost also.
Reduces Technical Complexity : With EDI, company use standard data formats to exchange documents.
Accelerates Information Exchange : The completion of order processing time is reduced.
Bottom line: It Improves data accuracy, Reduces technical complexity ,Lowers personnel needs, Accelerates information –exchange, Improved trading partner relationships , Improved intra-company flow of data , Improved planning and processing. .
Types of E-comerce:
This e-commerce encompasses all electronic transactions of goods or services conducted between the MNC or companies.
Ex: Companies doing business with each other such as manufacturers selling to distributors and wholesalers selling to retailers.
It provides direct selling through online.
If you want to sell goods and services to customer so that anybody can purchase any products directly from supplier’s website.
B2C is the indirect trade between the company and consumers.
Ex: many virtual stores and malls on the Internet, which sell all kinds of consumer goods, such as computers, software, books, shoes, cars, food, financial products, digital publications, etc.
Businesses selling to the general public typically through catalogs utilizing shopping cart software.
the establishment of electronic business relationships between businesses and final consumers. It corresponds to the retail section of e-commerce, where traditional retail trade normally operates.
A consumer posts his project with a set of budget online and Examples of such practices are the sites where designers present several proposals for a company logo and where only one of them is selected and effectively purchased.
It facilitates the online transaction of goods or services between two people.
Though there is no visible intermediary involved but the parties cannot carry out the transactions without the platform which is provided by the online market maker such as eBay.
e-commerce encompasses all electronic transactions of goods or services conducted between consumers. Generally, these transactions are conducted through a third party, which provides the online platform where the transactions are actually carried out.
5. Business-to-Administration (B2A)
It encompass all transactions conducted online between companies and public administration.
This is an area that involves a large amount and a variety of services, particularly in areas such as social security, employment, legal documents and registers. These types of services have increased considerably in recent years with investments made in e-government.
6. Consumer-to-Administration (C2A)
The Consumer-to-Administration model encompasses all electronic transactions conducted between individuals and public administration.
Examples of applications include:
Education – disseminating information, distance learning, etc.
Social Security – through the distribution of information, making payments, etc.
Taxes – filing tax returns, payments, etc.
Health – appointments, information about illnesses, payment of health services, etc.
Both models involving Public Administration (B2A and C2A) are
Electronic Funds Transfer: :
It is the exchange or transfer of money from one account to another electronically.
In present scenario, It is used mostly.
It reduce the Time and provide secure and reliable Transaction between users.
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