Research January 9, 2007

Electronic business

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Electronic Business, or “e-business”, may be defined broadly as any business process that relies on an automated information system. Today, this is mostly done with Web-based technologies. The term “e-business” was coined by the CEO of IBM.

Electronic business methods enable companies to link their internal and external data processing systems more efficiently and flexibly, to work more closely with suppliers and partners, and to better satisfy the needs and expectations of their customers.

In practice, e-business usually includes e-commerce. E-commerce seeks to add revenue streams using the Worldwide Web or the Internet to build and enhance relationships with clients and partners. Often, e-commerce involves the application of knowledge management systems.

E-business is more than just e-commerce. It involves business processes spanning the entire value chain: electronic purchasing and supply chain management, processing orders electronically, handling customer service, and cooperating with business partners. Special technical standards for e-business facilitate the exchange of data between companies. E-business software solutions allow the integration of intra and inter firm business processes. E-business can be conducted using the Web, the Internet, intranets, extranets, or some combination of these.

In the year 2000:

• 81% of UK companies had their own website, a rise of 18% from the previous year.
• Over 1.7 million small businesses were online, up by 1.1 million.
• 57% of UK businesses allowed their customers to order online or ordered themselves online.
• 3.3 million adults bought something online over the internet in the month of september.

As you can see even back then the internet was accelerating, now huge amounts of information and business is carried out using the internet