E-commerce expands the market to an international and global scale. With little to no cost, any 7 Figure Cycle company can find more consumers, better suppliers, and more appropriate, quick and easy partners.
Electronic commerce reduces the costs of establishing, processing, distributing, saving and retrieving paper information. For example, by creating an electronic procurement department, companies can cut administrative costs by 85%.
Ability to create very specialized trades.
Electronic commerce allows inventory reduction through the use of the drawdown process in the supply chain management system. In the system of withdrawal, the process begins with the receipt of a commercial application by the consumer and to provide the consumer with his request through timely manufacturing Just-in-Time.
The process of withdrawal allows the manufacture of the product or service according to the requirements of the buyer and this gives the company a commercial advantage over its competitors. The biggest example is Dell Computer Manufacturing.
Electronic commerce reduces the time period between payment of money and access to products and services.
Electronic commerce causes reengineering of business processes. Through this change, the productivity of vendors, employees and administrators jump to more than 100%.
E-commerce cuts telecommunications costs – Internet is much cheaper than value added networks.
Other benefits include improving the image of the company, improving customer service, creating new business partners, facilitating operations, reducing time to send products and services, increasing productivity, eliminating paperwork, reducing transport costs and finally increasing flexibility in dealing.
The benefits of e-commerce to consumers: E-commerce gives consumers the option to shop or end their transactions 24 hours a day, on any day of the year and from anywhere on the Earth’s surface.
E-commerce offers many options to the consumer because of access to products and companies that were not available near the consumer.
In many cases, 7 Figure Cycle Review e-commerce will be one of the cheapest places to shop because the seller can shop around a lot of online sites and compare the goods of each company with the other easily. So eventually he will be able to get the best offer. While it is more difficult if it is necessary to visit each different geographical location only in order to compare the goods of each company to another.
In some cases especially with digital products such as electronic book, the electronic commerce enables the buyer to send the goods quickly and easily to the seller.
Customers can get the information needed in seconds or minutes through e-commerce. In contrast, it may take days and weeks to get a response if you request information from a concrete location.
Electronic commerce allows to participate in virtual auctions.
E-commerce allows customers to exchange experiences and opinions about products and services through online communities (for example, forums).
E-commerce encourages competition which means lower prices.
The benefits of electronic commerce to the community: Electronic commerce allows the individual to work at home and reduce the time available for shopping, which means less traffic congestion in the streets, which leads to reduce the proportion of air pollution.
Electronic commerce allows some of the goods to be sold cheaply, so that individuals who have material income can not afford to buy these goods, which means raising the standard of living of the community as a whole.
Electronic commerce allows people living in Third World countries to own 7 Figure Cycle Review products and goods that are not available in their home countries.
Electronic commerce facilitates the distribution of public services such as health, education and social services at a lower price and higher efficiency.