B2B E-commerce: Why Modern Tech is Important

The B2B marketplace is increasingly getting crowded with both big and mid-sized businesses. This growth is driving B2B companies to leverage e-commerce tools and techniques to improve reach, sales, customer experience, and efficiency. Modern tech devices made it possible for companies and customers to get a proper approach to the products in the market. Here are some reasons why they are important for B2B e-commerce.

  • Modern tech offers complete end-to-end e-commerce capabilities to companies and customers. This is the main reason why it is suitable for B2B e-commerce. It benefits both and drives a revolution in the market.
  • It offers complete access to all different kinds of products from one particular location. Customers don’t have to go through multiple vendors, making the process less complicated and saving a lot of time and efforts.
  • It allows companies to cut product costs. It also reduces inventory levels and improves market speed for product retailers and dealers.
  • It gives assurance of competitive wholesale prices for everyone. This does not affect the quality of the products in a negative way. The products that are being sold on the platform are perfect and can be used with their best potential.

B2B e-commerce platforms are playing an important part in the overall progress of the e-commerce market. B2B buyers are growing increasingly impatient with sellers that don’t provide it. That’s why B2B companies should build their digital fast if they don’t want to risk losing their customers to the online competitors.

Challenges of the B2B Marketplace
From multiple product lines to complex sales channels, B2B business owners are often faced with challenges that lies on personal contact, slow mode of payment and the number of decision makers. They have to hurdle a consistent fight with these challenges on the B2B e-commerce platform. That’s why it is important to develop a solid business and logistical connections with partners. Incorporating modern technology in the most efficient manner results to smooth product delivery and efficient operations.

With the start and evolution of modern technology, B2B e-commerce has made it possible for everyone to get wider product approaches. It allows business to purchase goods as per requirement, reducing their inventory levels. It also lets them buy goods from different software platform based marketplaces and online networks. Furthermore, modern devices make it convenient for customers to get everything they need. Click here to learn more about our B2B e-commerce solution.

Top 10 Differences between B2C and B2B Platform

Don’t try to purchase a B2C platform and repurpose it for your B2B customers if you don’t want to waste your time and money. B2B is different from B2C. Don’t trust a B2C provider that claims to be an overnight expert on the former. Keep in mind that a few customizations will not make a B2C platform perfectly work for B2B clients. You should start with a B2B platform directly. Here is a short list of features that a B2B provider should be able to demonstrate easily, without customizations.

  • Search – A B2B platform personalizes the search for each user type and to the specific company that is ordering.
  • Products – B2B products are complex. They require advanced quoting and configuration.
  • Integrations – Most B2B projects fail or go over budget on integration. That’s why you should have a strong integration toolset.
  • Performance – B2B handles larger SKU counts and order volumes than B2C.
  • Developer Tools – The platform should have strong B2B features OTB. It should allow the developer community to extend and scale without over boarding the upgrade path.
  • Globalization – Most B2B companies are global. They are available in multiple languages and currencies. They are also flexible enough to handle international shipping and tax issues.
  • Multi-site – A B2B platform provides customer-branded microsites and ordering portal for their key accounts. On the other hand, B2C typically offers a single website.
  • Customers – B2B companies have many different personas, client types and channels. There is no one-size-fits-all approach for all firms. You need to consider various factors when choosing the best B2B ecommerce solution for you.
  • Payments – B2B provides options for PO, order approvals, and payment on credit. It also has the ability to check available credit. On the other hand, B2C is often credit card only.
  • Check out – The B2B checkout process is more complex than that of B2C. It involves multiple order approvals, credit limits and payment complexity.

OroCommerce is the only true B2B ecommerce platform. It will help you drive business growth, reduce total cost of ownership, and improve your customer experience. Built with flexibility in mind, it can be customized and extended to fit any B2B ecommerce needs. Click here to check out its key features.