B2B e-commerce involves interaction and transactions between a company and its business partners: suppliers, contributors and retailers. It is a rapidly growing field.
According to the forecasts in Frost & Sullivan’s “Future of B2B online retailing” report, the global B2B e-commerce market will be worth $6.7 trillion by 2020. It is expected to double the B2C online market size and become one of the most innovative sectors.
Many organizations are still reluctant to introduce a B2B e-commerce system to manage relationships with wholesale customers and buyers because the user requirements are often more complex and require substantial integration. Nonetheless, as the figures show, companies are beginning to appreciate its importance and see the huge benefits offered, such as optimized operating costs and times, automated sales processes, customized selections and the potential for omnichannel purchasing.
The better known B2C field unquestionably influences the area in terms of both technical matters and graphics. This covers everything from quality designs based on user-friendly parameters and high-speed operations on any device to integration with the most widespread payment methods, customized selections and cross-selling and up-selling proposals.
In order to produce a successful B2B e-commerce system, it is also important to take into consideration the differences compared to B2C operations. First and foremost, the ranges are broader. In addition, it is necessary to integrate it with the company’s project management and CRM systems, have restricted access via a login procedure, and allow flexible multi-stock and batch management.
Introducing a B2B e-commerce system allows companies to optimize their sales ecosystems, satisfy the needs of wholesale customers and cut costs while offering an increasingly dynamic and interactive experience that keeps up with the latest business challenges.
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Antony Morato is an Italian contemporary men’s fashion brand that has ventured into the field with a B2B platform created by FiloBlu. Find out more about the project.