Integration is one of the biggest challenges and opportunities of B2B businesses today. Companies need to support B2B processes for customers and partners who are using digital, automated solutions. But, they also need to enable data from these processes to land into their existing accounting and ERP systems automatically. This is what Enspir is about, helping suppliers, distributors and manufacturers to step into the world of B2B ecommerce success.
Here are some reasons why integration is important to B2B businesses:
- Lack of insight into customer data
- Compromised decision-making
- Reduced ROI
- Reduced visibility
- Difficulty identifying cost-cutting opportunities
- Increased sales cost
- More points of failure
An evolving B2B sales process does not deal with manual processes anymore. Gone are the days when sales representatives jot down orders from customers and send back the order forms manually to the distributors. With B2B ecommerce, suppliers and distributors access a better way. They ditch the manual processes and provide customers with something closer to online shopping today. They can record orders on the spot and data will be automatically sent to the distributor.
What is the role of data in this?
Data has become the step that will take businesses further to the path of B2B ecommerce success. Ecommerce provides access to troves of data on consumer shopping habits. It allows customers to purchase a product and automatically recommend similar products that they might enjoy. Thanks to data analytics, companies can also analyze historical shopping habits and make predictive offers for what online shoppers might want or need.
Since SMBs are similar to consumers, this applies to them too. They tend to make higher-value purchases with paper documents, where data is less accessible. With more people making purchases, buying habits are less predictable. This is one area where the Internet of Things can make a mark. IOT-connected devices can offer predictions and suggestions as to what the enterprise needs to procure by using data to effectively understand what set of services SMBs really need.
Data integration impacts many business processes and customer satisfaction. It is important for B2B companies to understand the current state, desired improvements, and how integration can improve their business processes. Lack of integration results to lack of visibility across these processes, including sales, marketing, ecommerce and inventory management. Click here to know more about our B2B ecommerce solution.