The E-Commerce Opportunity

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The E-Commerce Opportunity

A secure e-commerce Web site can provide businesses with powerful competitive

advantages, including increased online retail sales as well as streamlined application

processes for products such as insurance, mortgages, or credit cards. E-commerce credit

card sales can be especially lucrative: according to independent analysts, cash

transactions on the Internet will reach $9 billion in 2000, and $30 billion in 2005.

By offering products and services on the Web, businesses can gain unique benefits:

· New customers: Anyone with an Internet connection is a potential customer: millions

around the world are already using the Internet for business transactions. Web

storefronts are open 24 hours a day, and require no investments in brick and mortar.

· Cost-effective delivery channel: Many products and services, such as software or

information, can be distributed directly to customers via the Web, enhancing the

customer experience and increasing profitability by eliminating the shipping and

overhead costs associated with order fulfillment.

· Streamlined enrollment: Paper-based enrollment workflows are fraught with delays.

Applications for insurance, a mortgage, or a credit card, for example, can be held up

in the mail. And once received, application information must be entered into

computer systems manually, a labor-intensive process that can introduce errors. By

accepting applications via a secure Web site, businesses can speed applicati...

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