5 Benefits of B2B Ecommerce Business Strategy
Today we are more connected online than ever before for communication, shopping, work, research, or entertainment. With this increased online engagement, the volume of ecommerce has increased massively. For B2B companies, ecommerce is not only about online purchases; ecommerce solutions are becoming pivotal part of a company's operations and overall strategy. Here we cover five benefits of infusing ecommerce in your B2B business strategy.
Top 5 Benefits of B2B Ecommerce
Grow Revenue. The growth opportunity for B2B ecommerce sales revenue has increased tremendously in recent years and will continue that trajectory. According to Forrester Research, the B2B ecommerce economy will reach $1.2 trillion and account for 13.1% of all B2B sales in the US by 2021 (ref). Such massive growth expectations represent a prime opportunity for businesses to enter B2B ecommerce to maximize their sales revennue and growth.
Lower Costs and Increased Efficiency - As companies grow, they often reassess their business strategy to find original workflows that need updated and streamlined. With ecommerce software, B2B companies can automate manual order processing, consolidated order entry, and centralized processing to increase operational efficiency. As a result, they have dramatically reduced costs while also increasing revenue. Throughout hundreds of implementations, we have seen that a wide variety of business processes can be set up online, resulting in lowering overall costs.
Accelerate Order Fulfilment - With cloud based ecommerce systems, B2B sellers accelerate their order fulfilment when selling online using a modern, cloud-based ecommerce platform. Using such service reduces errors in order placement, improves inventory tracking, and ultimately enhances customer relationships with customer with timely service and delivery. B2B sellers can now promise accurate, fast, and transparent delivery to their customers.
Reach New Customers Anytime, Anywhere. - The boom of ecommerce presents an unprecedented access to more shoppers who can be targeted and easily reached globally anytime and anywhere. B2B ecommerce provides access to new stores, divisions, geographies, product catalogues, and more - which will makes selling easier than ever before.
Manage Suppliers Efficiently - Through using a B2B ecommerce platform, B2B manufacturers can manage and control several supplier relationships at once. Instead of using extra FTEs, spreadsheets, phone calls, and faxed order forms, businesses can electronically keep track of orders and inventory through ecommerce automation which will save time money as well as reduce human error.
Virto Commerce provides an innovative, opensource B2B ecommerce software solution. We have implemented our robust ecommerce technology, services, and expertise in over 100 deployments for companies worldwide. Built for flexibility and scalability, the Virto Commerce supports our clients in a wide range of solutions to manage business challenges like multiple store, channels, pricing models, order platforms, customer loyalty, and more. Our clients get to market faster, build stronger customer relationships, and rapidly increase global online sales.
Learn more at www.virtocommerce.com/demo