COMMERCET222- Assignment 3(E-Commerce)
Table of Contents
Executive Summary
An ANZ that is competing in the market there also needs to be upgraded with modern times so that there is the growth of the ANZ can be maintained with time. So, there is the introduction of e-commerce helped ANZ’s growth to new levels and with the trust-building strategy with the customer in a particular way. The need for E-commerce is very important as more customers prefer shopping when they are available not when stores and ANZs available so e-commerce helps in making this efficient with time management. E-commerce helps in making the environment healthy by reducing the use of paper which was used by the companies like billing and other formalities of the ANZ. There is a reduction in the use of paper by providing more digital receipts to the customers(Song et al., 2019).
Introduction
ANZ is the ANZ which is based on the IT sector company and a technology company that hasthe business of providing loans and easy repayment of the loan with EMI and also this ANZ made different products and spare parts in the field of technology and this ANZuses the technology which is latest to the new business named the E-Commerce that will be known for the latest technology which helps in the modernisation and also in the easy record holding by introducing the E-commerce in the ANZ, with this technology the holding of the records is quite easy and simplified for the company (Song et al., 2019).
The use of the e-commerce type which includes receipt and digitalisation of the paperwork will help in the load of the ANZ and working efficiently with less workload on the workers of the ANZ. E-commerce has a vast network and scope with the development of the technology this also comes in the trend. There is E-commerce with a great advantage for the consumers as well as the ANZ.
Definition and Concept
E-Commerce is also known as electronic commerce which is related to the term of trading which is very closely connected to the internet and computer, this technology is the trading of products or services using the computer network, e-commerce is significantly used in various things that include the transfer of funds, sales of the product online, supply chain management, and also used in the management of the inventory and mostly used in the data interchanges.
Framework of E-Commerce
E-commerce involves various steps to complete its procedure steps to complete its whole work there is a need for the stakeholder who will do the process completely and be responsible for completing it effectively(Hussien et al., 2021).
The process of the sale of the ANZ from the e-commerce has different levels on which this sale depends and this sales involvement of the fundamental process in which this e-commerce with the sale of any kind of the product from the ANZ involves the various steps in which the E-commerce depends and these steps are followed with the completing the information of each step than moving on the other step.
Steps in successful E-commerce
- Information: the information which includes from both ends of the business and also from the consumer about any service.
- Initiation: After the requirement of the consumer is fulfilled by the ANZ then there is an initiation of the request from the consumer about the service he likes.
- Payment: After the choice of the service there is the interface of the payment which is required by the ANZ to complete by the consumer for the service(Hussien et al., 2021).
- Billing/ Invoicing: After payment is successfully done by the consumer after completion of payment by there is the generation of an invoice which consists of the record and all charges of the service including tax.
- Support: there is also support that is provided by the ANZ so if there is any problem faced by the consumer will be resolved online and also any kind of help that is required.
Advantages of E-commerce
For using e-commerce in the ANZ there is an advantage that must be considered for both ANZs as well as for the consumers. Introducing e-commerce in aproduct-basedANZchanges the business models of the ANZ and also reducesitsworkload of the ANZ. With e-commerce, shopping is flexible without any waiting in queues and this enables shopping at home with the proper individual needs and satisfaction of the consumer with the proper instances of work(Xuhua et al., 2019).
E-commerce also offers the best customer service that can be offered by the ANZ and this enables fast communication with the customer there is more potential in the business by reaching more customers through the web portal of the internet and also there will be proper tracking of the customer behaviour with the methods of the demand by them(Sin et al., 2016).
The increase with the technology advent in the business there is a reduction in the intermediaries with this there is more transparency with the customers and also there are more chances of building trust with the customers. And this has the reduction of the environmental impact by reducing the use of paper in the billing and invoicing of goods and products.
Conclusion
From the report, this may be concluded that the introduction of E-commerce or IT in the business helps the ANZ in a very positive manner and this proves the revolution phase of the business which is very transparent and have many scopes in this field. E-commerce enables ease of business and also this impacts business growth to new levels. With E-commerce, there is the advantage which must be seen with better transparency also there will be trust building in the business and resulting in the growth of the ANZ(Xuhua et al., 2019).
Recommendations
With the increase of E-commerce in the business where there are security breaches which are seen recently which were reduced by enabling more encryption of the data and also there will be proper privacy and policies should make on the data from the customer is to be made a proper policy related to the data of the customer and laws should be made to protect the data of customers by the ANZ(Sin et al., 2016).
References
Hussien, F. T. A., Rahma, A. M. S., & Wahab, H. B. A. (2021, May). Recommendation systems for e-commerce systems an overview. In Journal of Physics: Conference Series (Vol. 1897, No. 1, p. 012024). IOP Publishing.
https://iopscience.iop.org/article/10.1088/1742-6596/1897/1/012024/pdf
Song, Z., Sun, Y., Wan, J., Huang, L., & Zhu, J. (2019). Smart e-commerce systems: current status and research challenges. Electronic Markets, 29(2), 221-238.
https://sci-hub.hkvisa.net/10.1007/s12525-017-0272-3
Sin, K. Y., Osman, A., Salahuddin, S. N., Abdullah, S., Lim, Y. J., & Sim, C. L. (2016). Relative advantage and competitive pressure towards implementation of e-commerce: Overview of small and medium enterprises (SMEs). Procedia Economics and Finance, 35, 434-443.
https://sci-hub.hkvisa.net/10.1016/S2212-5671(16)00054-X
Xuhua, H., Elikem, O. C., Akaba, S., & Worwui-Brown, D. (2019). Effects of business-to-business e-commerce adoption on competitive advantage of small and medium-sized manufacturing enterprises. Economics & sociology, 12(1), 80-366.