eCommerce, a cost-efficient technique for doing biz in tough times

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New Delhi, Nov 25 (UNI) Amid global economic crisis forcing firms to adopt cost-cutting measures, eCommerce can be an economical medium for the entrepreneurs who want to expand their footprints, industry experts say.

eCommerce basically consists of buying and selling of products or services over electronic systems such as internet and other computer networks.

''The fundamentals of eCommerce are not changed and traditional businessmen can use it as a mode to expand their reach even in this tough time...the financial crisis can be used by entreprenuers as an opportunity to do great businesses,'' eBay India Director (Category&Product Management) B Muralikrishanan says.

eBay is an online auction and shopping website where people and businesses buy and sell goods and services worldwide.

However, Mr Muralikrishanan did not divulge the impact of the ongoing crisis on his company's financial health, saying ''we donot observe mid quarter trends''.

The companies all across the globe are adopting cost-cutting measures and amid this tough time, eCommerce can bring in relief by creating a direct link between a customer and a buyer, an expert opines.

This will not only reduce the cost incurred on paperwork and intermediaries, but will also help firms expand their reach in places where they were not present earlier.

Since advent of internet, the amount of trade conducted electronically has grown exponentially.

A wide variety of commerce is conducted in this way, spurring and drawing on innovations in electronic funds transfer, supply chain management, internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems and automated data collection systems.

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