Digital certificates
The point of a digital certificate is to identify the owner of a document. This way the receiver knows that it is an authentic document. Companies can use these certificates in several different ways. They can be used as a replacement for user names and passwords. Each employee can be given these to access the documents that they need from wherever they are. These certificates also use encryption. They are a little more complicated than normal encryption, however. They actually used important information within the code. They do this in order to assure the authenticity of the documents as well as confidentiality and data integrity which always accompany encryption.[17] Digital certificates are not commonly used because they are confusing for people to implement. There can be complications when using different browsers, which means they need to use multiple certificates. The process is being adjusted so that it is easier to use.[17]
Digital signatures
A final way to secure information online would be to use a digital signature. If a document has a digital signature on it, no one else is able to edit the information without being detected. That way if it is edited, it may be adjusted for reliability after the fact. In order to use a digital signature, one must use a combination of cryptography and a message digest. A message digest is used to give the document a unique value. That value is then encrypted with the sender's private key.[17]
Advantages and disadvantages
Advantages
When looking at e-business we have many advantages, which are mostly connected to making doing business easier. The benefits of implementing e-business tools are in the streamlining of business processes and not so much in the use of technology. Here are some:
- Easy to set up: electronic business is easy to set up even from home, the only requirements are software, a device and an internet connection.
- Flexible business hours: There are no time barriers that a location-based business can encounter since the internet is available to everyone all the time. Your products and services can be accessed by everyone with an internet connection.
- Cheaper than traditional business: Electronic business is less costly than a traditional business, but it is more expensive to set up. Transactions cost are also cheaper.
- No geographical boundaries: The greatest benefit is the possibility of geographical dispersion. Anyone can order anything from anywhere at any time.
- Government subsidies: Digitalisation is very encouraged by the government and they provide the necessary support.
- Newmarket entry: It has a great potential to enable an entry to a previously unknown market that a traditional business could not.[22][23]
- Lower levels of inventory: Electronic business enables companies to lower their level of inventory by digitalizing their assets. (i.e.: Netflix does not sell anymore physical DVDs but proposes online streaming content instead).
- Lower costs of marketing and sales: E-commerce allows the actors of the industry to advertise for their product/service offer (i.e.: house rental) at generally lower costs than by promoting physically their business.
Disadvantages
Despite all the limits, there are also some disadvantages that we need to address. The most common limitations of electronic business are:
- Lack of personal touch: The products cannot be examined or felt before the final purchase. In the traditional model, we have a more personal customer experience, while in the electronic business that is mostly not the case. Another missing factor of personal touch could also be in online transactions.
- Delivery time: Traditional business enables instant satisfaction as you obtain the product the moment you purchase it, while in electronic business that is not possible. There will always be a waiting period before you receive the product. For example, Amazon assures one-day delivery. This does not resolve the issue completely, but it is an improvement.
- Security issues: Scams could be mentioned as a factor for people's distrust in electronic business. Hackers can easily get customers' financial and personal details. Some customer still finds it hard to trust electronic businesses because of the lack of security, reliability and integrity issues.[22][24]
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