What are the different types of electronic trading software?
In principle, there are three types of electronic trading software: a program outside the box, a customized program and a program provided by a host company with an electronic store. These options can be further divided into more specific types of electronic trading software. Using a relational database, access to accounting applications from software and the presence or absence of a shopping cart are among the functions that determine different types of electronic trading software. Type and size of business helps to determine what type of electronic trading software will need. For example, a commercial website selling only a few items may not need software that contains a shopping cart if it is rare for customers to buy more than one item or service at a time. Large companies that, on the other hand, offer many different products that are necessary for the software in which the shopping cart is. Customers often want to buy more items or services with one transaction.
The presence of a relational database is also very important in selling many items and services. This is especially true when items are available in different sizes, colors and quantities. The relational databases in electronic trading software can be considered as a stock system that can be updated and prevents customers from ordering items that are not in stock or no longer available. Small businesses might be interested in electronic trading software that has an integrated accounting program program.
All these types of electronic trading software must be carefully studied to consider advantages and disadvantages. The software outside the box is generally preferred by individuals or very small companies that have no knowledge of the development of websites. The benefits include freedom to encode software to meet specific needs and requirements of business. Knowledge of programming and SatHowever, the popular understanding of the Hypertext marking (HTML) is required if web developer services cannot be purchased. This type of software can be obtained free of charge or for a fee.
software that is not coded from scratch must be configured or "improved" by every individual or company that plans to use it. Depending on the size and functions of the software, this could be enough, but for a small business it could be "bulky". Electronic trading programs that are hosted may require a regular fee to be paid, and the use of the application may be reduced.