Q.Describe briefly any two applications of e-business.

• e-Procurement: internet-based sales transactions between firms. It includes reverse auctions (online trade between a single business buyer and many sellers) and digital marketplaces (online trading among multiple buyers and sellers). …

Because almost every business function can be carried on over computer networks, a number of distinct e-business applications have emerged. Two of them, described briefly:

• e-Procurement: This refers to internet-based sales transactions between business firms — that is, one firm buying its inputs online from other firms. It takes two main forms: reverse auctions, which is online trade between a single business purchaser and many competing sellers (the sellers bid down the price), and digital marketplaces, which is online trading among multiple buyers and sellers on a common platform. e-Procurement speeds up sourcing, widens the choice of vendors and lowers procurement costs.

• e-Trading: This is the online buying and selling of shares and other financial securities over the internet. Investors can place buy and sell orders, view prices and settle trades electronically without visiting a broker in person. It has made participation in the securities market far quicker and more convenient for ordinary investors. …