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Explain the benefits of ICT to a small business enterprise.

Explain the benefits of ICT to a small business enterprise.

Answers

Kavungya
(i) Procurement – electronic procurement system is cheaper. E-commerce
reduces the cost of searching, negotiating, ordering and delivery of goods.
(ii) Market expansion – with access to the Internet, business organizations do
have a wider reach of the market regardless of their geographical location.
(iii) Reduces inventories – electronic transactions have assisted many business
firms to reduce inventories and overhead expenses.
(iv) Timeliness in receipt of goods – e-commerce has greatly reduced transaction
times from the moment orders are received, through processing and delivery
of the goods.
(v) Low telecommunication costs – communication over the Internet is very fast
and much cheaper. Thus, the telecommunication costs incurred by business
firms are low.
(vi) Increased productivity – with the advent of e-commerce, most business firms
have been able to enhance efficiency in service delivery and improvement in
the quality of goods produced.
Kavungya answered the question on April 24, 2019 at 08:18

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