It seems like the web is taking over all the business processes across the globe. First it was communication, next it was buying and selling and now even servicing and business collaborations have gone online under the name E-business.
eBusinessis an umbrella term used for all business activities that are done using the mode of internet. In essence, it is virtual business. Globalization has changed the rules of business forever. There is a demand for flexibly, speed and a need to be cost efficient. It was for these reasons that software development projects and other business process were outsourced offshore. Businesses across the world soon adopted this and soon there were demands for effective communication, information transfer across countries.
With the trend of offshore software development spreading like wild fire, the potential of IT talent in various countries were recognized and the potential cost effectiveness tied to it allured more multinational businesses. Initially, big corporations from the West used the wealth of talent in the Eastern World. Soon, there was a shift and people from the East were in a position to offer services to multinationals abroad, and even started their own multinationals. A cut on travel expenses, the time it involved and instead redirecting this time and effort in business interest was a crucial demand. eBusiness was an answer to this.
Exploiting the convenience, availability, and world-wide reach of the Internet, many companies, such as Amazon.com, the book sellers, have already discovered how to use the Internet successfully.
eBusiness enabled audio conferencing and video conferencing discovery and development and these services have in helped multinational corporations conduct business with speed by spending lesser money. Once all the constraints of working with offshore projects were sorted, the flow of software development through offshore outsourcing grew rapidly.
eBusiness has erased geographic boundaries, facilitated the growth of a variety of business processes across different countries of the world. It has been a key contributor in making the world a global village.