What Is Electronic Trading?
Electronic Trading (Screen Trading) Electronic trading refers to transactions conducted through electronic systems, which are different from face-to-face transactions on the trading floor of the exchange. No part of e-commerce is more compelling than electronic transactions. The so-called electronic transaction refers to online trading. E-commerce will no longer simply open up a new online sales channel. It will reduce operating costs and help companies build closer relationships with customers, suppliers and partners. Electronic transactions allow you to build customer loyalty while increasing revenue, reducing costs by improving order processing efficiency. Reduce inventory and warehouse expenses while maintaining full fill rates and reducing the actual cost of sales transactions. Electronic trading is a trend suitable for the development of the times.
Electronic transaction
- Electronic Trading (Screen Trading) Electronic trading refers to transactions conducted through electronic systems, which are different from face-to-face transactions on the trading floor of the exchange. No part of e-commerce is more compelling than electronic transactions. The so-called electronic transaction refers to online trading. E-commerce will no longer simply open up a new online sales channel. It will decrease
- Electronic Commerce (ElectronicCommerce): refers to the application of information technology to transfer business information and transactions. By electricity
- Since the birth of the Internet, more and more companies have "touched the net". With the advancement of technology and the development of the times, corporate electronic transactions have gone through several processes. The first stage,
- The electronic trading market has a variety of model designs for the trading system, including a total of ten models: seller listing, buyer listing, online bidding, online bidding, online negotiation, two-way bidding, special auctions,
- CCW News has research institutions based on the 2006 China
- IBM helps thousands of companies implement successful electronic trading solutions. Some of the key factors for the success of electronic transactions do not seem obvious, and if overlooked, they can create serious business challenges. These factors include:
- There should be reasonable business strategies and goals in implementation management;
- Focus on customer solutions, services, long-term relationships and value;
- Pay attention to all aspects of the sales cycle, including awareness, interests, aspirations, behaviors, services and support;
- Understand and explore unique aspects of the Internet and standards-based technologies;
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- A reasonable electronic trading strategy should have a business
- The first step in implementing electronic transactions-and one of the most challenging-is to define a dynamic business strategy based on the opportunity to provide customers with time value. The development of this strategy requires an understanding of the company's unique strengths and brand characteristics, industry dynamics, the capabilities and unique attributes of Internet technology, and the foresight of future high-bandwidth computing. Although it seems simple, it is often difficult to develop a durable and affordable electronic trading strategy. In many cases, companies conduct electronic trading solutions as a means of survival or competitive response, rather than as a competitive advantage. Industry leaders will be those who can think creatively, fully understand how electronic transactions can impact their business, and then take full advantage of the unique power of the Web and the company.
- To gain a competitive advantage, a comprehensive electronic trading strategy is required, including the following goals:
- Improve customer service
- Increase awareness share, market share and wallet share
- Expand geographical extension
- Reduce customer turnover
- In the wave of Web site construction, it is often forgotten to define the criteria and measures of success. Just as there are numerous value suggestions, there are various success criteria and measures. It is true that there are some measures that are difficult to achieve, but there are also some that are easy to determine and valuable, but often overlooked. These measures include:
- Revenue and profit for all and each customer
- Order size and number of units per order
- Cost of goods sold, cost per transaction, cost per visitor, cost per repeat customer
- income
- Electronic transaction
- Inventory reversal
- Conversion rate
- Page views per order
- Shopping cart abandoned percentage
- Customer acquisition cost
- Repeat visits, total visits, visits
- Stopover time
- customer satisfaction
- Improved customer service but lower prices
- Email redirect
- Stock price
- External measurement of response time and availability
- How users found your site
- Ad clicks
- Finally, please remember to develop all aspects of a web site from a customer's perspective, not yours. Too many Web sites are designed around the internal structure of the enterprise, focusing on products and services-not solutions and customers. If customers can't find what they are looking for, they will soon abandon you-with their standards, not yours, this is the core of developing a successful electronic trading strategy.