Costs

• What is the main focus of the document?

  Understanding external influences on business
• Why do businesses invest in new technology?

  To reduce costs in the long term
• What are the initial costs associated with digital communication systems?

  Costs incurred when investing in systems
• How can remote work reduce costs for businesses?

  By allowing smaller office spaces
• What is a cost-effective way to send communications?

  Using electronic formats like email
• What are the savings associated with video conferencing?

  Reduces travel costs for meetings
• What is e-commerce?

  Buying and selling goods online
• How does e-commerce reduce costs for businesses?

  Requires fewer sales staff and premises
• What additional costs are associated with e-commerce?

  Website hosting and online payment fees
• How does social media benefit businesses?

  Provides cost-effective customer communication
• What is the impact of new payment technologies?

  Enables secure, cost-effective transactions
• What is a real-time online transaction?

  Payment received almost immediately
• What is a cost associated with handling card payments?

  Small percentage fee per transaction