Auction Software
Auction software is the Internet application software, working on server, which handles all aspects of conducting an on application. Application software is a subclass of computer software, which utilizes the capabilities of a computer to a task that the any user wishes to perform in contrast to system software, which will be involved in integrating a computer's various capabilities, but typically does not directly apply them in the performance of tasks that benefit the user. One has understood the term application, which refers to both the application software and its implementation.
The Auction software provides the users the ability to post items for sale in an auction format as well as the ability to bid on those items.
The most well known user of auction software is possibly ebay, Inc. out of San Jose, California. United States. ebay was the first company to popularize the notion of conducting an auction over the Internet. The most important thing is that eBay's auction soft ware is proprietary and is not available to the general public. auction engines, including Beyond Solutions, Siebel, Moai Technologies and Net merchants. Some of these firms will customize the software to target the specific requirement of various vertical markets
E- commerce is synonymous with auction soft ware
encompasses mainly goods and services distribution, buying, selling, and product servicing through the electronic systems, i.e. the Internet and other network systems The electronic application is principally aimed at commercial transactions and the processes are money transfer, supply chain management, e-marketing, and electronic data interchange. Moreover, Automation of data collection systems and automation of inventory management systems are integral part of advanced e- The technology involved in the electronic communications mainly internet systems, extranets, electronic mailing systems e-books world wide data bases, virtual catalogues and mobile telephone technology.
Business model
No time constraints. Bids can be made any time 24/7. Items are generally listed for a number of days between 1 and 10, mainly at the discretion of the seller, providing purchasers time to identify the product, zero on it and then finally bid thus allowing number of bidders to participate.
No geographical constraints. Sellers and bidders can participate from anywhere that has an Internet access thud drastically cutting the cost of attending auction. This further increases the number of listed items and number of number of sellers and also number of bidders for each item .The physical transportation of the item to any given location is not there thus cost are lessened in turn reducing the seller?s acceptable price.
Large number of bidders and sellers. Because of the low price, the broad range of products and services, the accessibility, and the other social benefits of the auction process, the numbers of bidder drastically increase. This has substantial effect on large number of sellers. As there are large number of bidders, a possibility of relatively high price, low selling costs, increase the sellers
This virtual environment create a spiral effect with the large number of bidders encouraging sellers, which, in turn, encouraging bidders, and more sellers and more bidders. More the spiral generates participants larger the system all-culminating into a viable business model for all the participants.
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