Risk Management of Information Systems in Small Businesses
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From the Paper:"E-Commerce is perhaps the solution to many problems facing man today. Business transactions, reports, analysis, planning, execution, payments are all part of organizational strategies to compete and excel in their respective fields. The internet and e-commerce allows free flow of data and instruments much needed by industries to survive competition. The primary payment mechanisms such as cash, debit cards, credit cards, electronic cheques, and electronic money transfer are all a part of our life. These tools help in protecting our money and serve as an alternative to carrying cash.
"Because of the increased ability to transact electronically with one another, sourcing becomes easy and this reduces procurement costs. The same holds for a reduction in inventory as the internet e-commerce allows for monitoring of stocks and supplies and allows the suppliers and purchasers to share updated production forecasts and projected inventory level. By allowing customers to access information before, during and after sales, it enhances a customer-to-company relationship, and develops a healthier and pro-active customer service base. The internet allows companies to reach customers in a low-cost mode (Greenstein & Feinman, 2000).
"Most establishments accept electronic payments made through debit and credit cards today, like airlines, railways, hotels and restaurants, amenities billings, petrol stations, super markets and so on. What we have today is electronic. E Ticketing, e- Card, e Banking, e Marketing are but a few of the prominent sectors covered by electronic commerce. Banks offer more and more payment options to consumers and business houses. The most conspicuous benefits derived from such schemes is the reduced operational cost, cut in processing time, increased interoperability, and increased payment options. ATM machines are seen everywhere. These machines help in both withdrawal and remittance of cash."
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Risk Management of Information Systems in Small Businesses (2015, October 25) Retrieved May 19, 2022, from https://www.academon.com/dissertation-or-thesis/risk-management-of-information-systems-in-small-businesses-154281/
"Risk Management of Information Systems in Small Businesses" 25 October 2015. Web. 19 May. 2022. <https://www.academon.com/dissertation-or-thesis/risk-management-of-information-systems-in-small-businesses-154281/>