E-Commerce Applications

Question 1

What are CRM?

Answer 1

Technologies for managing client relationships

• Customer data, profitability, personalized marketing
• Tracking contacts
• Customer service automation
• Analytics (sales history and projections, marketing campaign success, trends, and performance indicators)

Question 2

What is EDI?

Answer 2

Computer to computer exchange of business data

Facilitates JIT (just-in-time) inventory

May use VAN (value added networks)- which provide audit trails, controls, and security. Used in conjunction with EDI.

Alternatives:
- Transaction softwares converts between standardized EDI format and internal company formats

Benefits:
Paperless

0 Data entry

Reduce erros in information exchange

Real-time data with no delays

Faster invoicing

COSTS: 
- Locate e-partners and vendors 
- legal (new contracts) 
People and procedure costs 
- Internal policies 
- Training 
- Security, audit, and control procedures 
- Hardware/software 
-Translation and other software 
- Data transformation

Question 3

What is E-Banking?

Answer 3

VERY RISKY

Demanded by customers

Management of e-banking requires:

• Senior management and B of Director oversight
• Technology under Senior IT leadership
• Operational management monitoring and measuring risks

Examples:

• Retail payment
• Electronic fund transfer

EFT Service- Transactions are passed through a automated cleaning house= transfer and connects all US financial instution

EFT Security- Encrypted

Token based payment systems:
- Similar to EFT but different rules, can be anonymous

Question 4

What are electric wallets?

Answer 4

• Not payment systems

- Programs for managing credit cards, user names, passwords, and address information, easy-to use, centralized location

Question 5

What is supply chain management?

Answer 5

Transforming raw materials into finished product

• process of planning, implementing and controlling chain operations.
• Integrated with EDI