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Isn't It Time You Consider e-business?

E-business versus e-commerce - is there a difference? A few years ago, these terms were used interchangeably, but the evolution of the Internet and how business is being conducted saw an obvious separation of the two terms. Now e-business has taken on a life of its' own, and has gone far beyond the typical electronic exchange process of e-commerce.

Several years and countless changes later, we can now present a well thought out definition of the two terms: e-business is the function of deploying technology to maximize customer value while e-commerce is the function of creating exchange (i.e. buying and selling) over digital media. (Kalakota and Robinson 1999)

The birth and ultimate evolution of the Internet has created limitless opportunities for virtually every business on the planet. Small companies can now compete more fairly with big businesses, as the Internet continues to blur the boundaries of competition. Many small companies have developed big e-business strategies that have dramatically increased their revenues.

Consider the benefits of developing an e-business strategy:

• Enhance customer service by using virtual help desk software technology, and provide support to your customers 24/7. No more will your customers have to worry about when your office is open, and no more will your customer service standards be stymied by time or location.



• Encourage your customers to take advantage of your virtual support system, and decrease support costs. Develop a truly helpful system; one that's easy to use, full of visual stimulation and useful information, and your customers will love it! The Internet even enables businesses to more easily establish lasting relationships with customers. Who would have thought something as impersonal as computer technology could accomplish a goal so vital to business success.



• Develop an informative and visually appealing Web presence, and cut down on the costs associated with traditional marketing methods.



• Provide potential customers with that all-important instant access to company information, details on products and services, etc.



• Expand your potential market by offering your products or services to clients beyond your local area. Think about it - in the province of Newfoundland, a company can effectively implement an e-business strategy to offer services from the West Coast to the Avalon Peninsula and all points in between. A well developed Web site can open a lot of doors, even if you don't plan to go beyond your province, state or country. On the other hand, if you are adventurous enough to go global, the sky's the limit!



• Accept payments from your customers via online access to accounts, and cut down on customer service and administrative costs.



• Take advantage of real time communication and information exchange with your business partners, and compete more directly with big businesses. Cut down on communication costs, and streamline your communication processes.



• Offer your clients more services, and build integrity and trust by establishing a business alliance. The Internet provides the opportunity to seamlessly work with professionals from around the world without incurring excessive costs, or being limited by time or geography.

Developing an e-business strategy isn't only about setting up shop on the Internet. It encompasses many more concepts and possibilities. Your business may dramatically benefit from taking the time to consider what e-business can do for your customers. After all, it's all about achieving the highest possible level of customer satisfaction.

Regardless if you welcome the idea or not, your business needs to grow and evolve with technology. Now may be a good time for you to seriously consider what this can mean to your business, before your competitors do the work for you!

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