What is E-commerce?

Electronic commerce refers to the process of purchase of goods/services via Internet using e-mail, instant messaging, shopping carts, web services, UDDI, FTP and EDI etc.  In electronic commerce business can be conducted 24/7. It is the most convenient form of business due to 24-hour availability, global reach and ease of customer reach. Other than simply purchasing goods online, eCommerce covers a wide range of business aspects such as consumer based retail sites, auction or music sites, and trading goods  and services between corporations.

E-commerce has progressed rapidly over the past few years. Conventional commerce has taken a major step back as more people are moving their sections of business operation to internet. Carrying out transactions electronically in B2B or B2C is very convenient over traditional methods. It is also faster and cheaper method of bargaining goods and services as well. It allows companies to setup multiple, ad-hoc links whereas in EDI only one dedicated data link could be created between a supplier and a customer. Electronic commerce has also led to the development of electronic marketplaces where suppliers and prospective customers are brought together to carry out mutually beneficial trade.