E-BUSINESS

E-business has drastically changed how corporations -- as well as nonprofits government agencies and other such institutions -- operate allowing them to increase productivity lower costs and move more quickly. For example electronic invoicing automated billing and digital payment systems decrease the time workers must devote to these tasks which many businesses handled manually just a few decades ago. As a result of the time savings businesses can either decrease their head count or shift worker time to higher-value tasks. Additionally such digital systems reduce the time between invoicing and payment thereby improving cash flow for the business.