Electronic commerce more commonly known as e-commerce or eCommerce, is the trading or facilitation of trading in products or accommodations utilising computer networks, such as the Internet or online convivial networks. An ecommerce platform draws on technologies such as mobile commerce, electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data amassment systems. Modern electronic commerce typically utilises the World Wide Web for at least one part of the transaction’s life cycle albeit it may withal use other technologies such as e-mail.
Online business through eCommerce
When it comes to starting your online business, you should consider many things. Arguably, one of the most important decisions you could make is what kind eCommerce platform you should use. There are a lot of eCommerce available in the market. Choosing the best platform is crucial. Before choosing what are the the types of eCommerce platforms are available to you and why you should consider using them. There are 2 categories of platforms available in the market. Those two are Hosted and Self- Hosted. Now, you ask, “What’s the difference between the 2 of them?” Hosted simply means that the company is the one responsible for hosting your store/business while Self-Hosted is exactly as it means, the company would provide you their software and you’re responsible for hosting your store/business online. Starting your own online business/store can be nerve wracking. But, with all the platforms offered in the market you’re sure to find a platform that suits your needs and speciality.
Things to consider when choosing a platform
The question now is why would you use a eCommerce platform? Here’s why; eCommerce platforms optimises your earning potential which is always good when starting your own online business/store and by going digital you can save a lot of unnecessary charges (e.g. printing cost) and your business could potentially save a lot of money which in business terms it’s a win-win. You are giving your service virtually worldwide without any printing cost (which you know by now saves you a lot of money) your potential buyers can directly receive documents from you via email or whatever messaging platform you and your client prefer.
These platforms could allow you to make custom recommendations in a matter of minutes (time is money) you can create custom products that is tailored to your client’s preference. Over all, it will create quality products that are crucial for your business/ stores growth. Some platforms even integrate with your (provided you have one) ERP in turn changing your data management significantly inside out which is crucial for your business growth. Some Hosted platforms have In-house teams to help you with your business growth and considerably making your product output more precise for your buyers. While, Self-Hosted platforms give you the power to tailor your business/store to your preference and further optimising you’re earning potential in a worldwide audience.
Last thing you should consider is how you actually get your hard earned money most platforms use channels like PayPal, MasterCard or Visa. You just have to make sure that the platform of your preference gives a variety or ideally, all the methods aforementioned mentioned above.