#Multi-Vendor Ecommerce Marketplaces Development Solution For All Industry In USA
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nectar-bits · 2 years ago
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martechadvisor-blog · 7 years ago
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Is the Future of B2B E-commerce Born-In-The-Cloud Platforms?
B2B e-commerce was created with the aim to sell products or services to businesses using the internet and online sales marketplaces. B2B customers are increasingly mirroring their B2C consumer experiences on their B2B buying experiences too. So increased personalization, immediate responsiveness, flexible product configurations and engaging user experiences are increasingly the new normal in B2B commerce as well. 
Rapid advances in technology have led to a new benchmark in end-user experience. Today’s new realm of complete automation and need for omnichannel communication are other key contributing factors. Consumers in every type of sales cycle demand more personalized experiences today. In B2B, this along with an array of technological transformations that can support superior distribution, selling, pricing and order flows and much more have set a new foundation for B2B e-commerce. In all this change though, born-in-the-cloud B2B e-commerce systems are leading the revolution. 
While B2B ecommerce is often considered to be at a slightly more nascent stage than B2C ecommerce platforms, it is a swiftly evolving segment. 
Why should better technology in B2B e-commerce always have been a priority? B2B buyers are known to place bulk orders. B2B purchases are also usually more recurring and have the potential to develop into long term relationships so the cost of reselling (cross and upselling) is relatively lower. Companies usually make purchases on a monthly or yearly basis and like to develop long-term relations with vendors they can trust. Finding the right deal for the right product among an endless list of product configurations, resellers or providers can be challenging too. As there are usually more people involved in every transaction in a B2B sales cycle, consistency, convenience, transparency and accessibility become crucial to the B2B buying experience.  
For all these reasons and more, B2B ecommerce seems like a no-brainer.
With such rapid changes and dynamic end-user demands, the B2B e-commerce market is keeping up by evolving fast. There has been an increasing number of companies adding online sales channels to their businesses. In 2014, 63% of industrial supplies buyers purchased their products online (UPC, 2014). It is expected that the USA B2B e-commerce market will grow to $1.1T in 2020.                What are some of the noteworthy trends in B2B E-commerce? Studies by Forrester have suggested that investment in B2B Technology will include focus on deeper integration with back office systems like order management, ERPs, and financial reporting. 
In a recent article titled Top Three B2B E-Commerce Trends to Bet on in 2017 in leading Quote-to-Cash software provider Apttus’ blog, marketing management professional Lin Shearer had noted the following three to be major trends in B2B e-commerce:
1. More consumer-like self-serve experiences from B2B enterprises,  2. Seamless cross-channel buying journeys supported by deeper back-end integration, and  3. B2B personalization becoming more sophisticated by leveraging machine learning and prescriptive analytics. 
The ability to deliver unique and enhanced buying experiences is on the rise everywhere. But this buying experience in B2B is more multi-tier in nature and extends to partners, distributors, dealers, resellers, service providers and OEMs too. The B2B network is far more complex than B2B cycles and given this, better networks are a key focus.
B2B distribution networks thrive on partners apps and the functionality that they provide. Cloud based B2B e-commerce platforms are also an obvious growth area.  B2B e-commerce platforms that are capable of managing incentives, promotions, rebates and more across multiple channels of transaction so they can better motivate channel partners to sell their most profitable products are gaining importance.
B2Bs now want their e-commerce platform to support complex configuration and pricing workflows. This is all with the aim to bring in better speed and more simplicity into the overall buying process. A systematic workflow that also enables omnichannel selling is now a key criterion too. Some born-on-the-cloud platforms could offer easy integration with an existing tech stack to achieve this, while others may require complete integration within one system itself.
Order management systems that are integrated at the platform level enable easier and more synchronized order processing across multiple channels. These systems are also capable of automated replenishment, a feature that could be ideal for every B2B wholesaler. 
In B2B, selling and buying decisions are dynamic. Selling and buying decisions can be subject to change every quarter. Thus, the need for greater price optimization and Configure-Price-Quote (CPQ) flexibility. CPQ-based selling across all channels are enabling enterprises to sell based on unique differentiators and value.
Capabilities and features in e-commerce technology are constantly increasing with providers also progressively using AI to boost intelligent-abilities. 
Where are born-in-the-cloud platforms fitting in? Techopedia defines “born in the cloud” as a specific type of cloud service that does not involve legacy systems, but was designed only for cloud delivery. This category of cloud services is instructive in changing how companies view reliance on cloud vendors.
Some of the earliest definitions of ‘born in the cloud’ have often highlighted how products within this are not ‘legacy products’. Other components also play a role in determining what proactively qualifies as ‘born in the cloud’. These components could well be perceived as ‘benefits’ too. They commonly include various elements like flexibility, on-demand availability, responsiveness and constant evolution - a major pull for using cloud-based platforms in B2B. Born in the cloud models can help with quicker turn-around times and delivery. Over time, new age apps and platforms based on cloud parameters have been increasingly adopted by users. 
So why is it becoming so crucial? Unified cloud platforms are driven by the need for B2B-specific features like enhanced catalog management and portal, payment gateways and personalization. Many companies are now moving to born-in-the-cloud e-commerce platforms that lead to lower costs and more streamlined stacks that are responsive to changing customer demands. 
For B2B e-commerce platforms craving more processing power, memory and storage, cloud-based models allow software to use resources on a need-basis and dynamically. 
It’s much like never running out of salt at home…the resources are always there. Imagine a pantry full of it. 
Furthermore, cloud-based platforms help deliver an omnichannel experience to customers across their devices of choice. B2Bs looking to provide customers with a seamless buying experience need minimal complexities in operations and that’s where cloud-based models can gainfully step in. They can provide companies better operation management solutions. Cloud-platforms can also step in to provide B2B buyers an effortless transition between various stages of their buying like when they compare prices and products, fill their shopping carts, etc. 
Born in the cloud platforms help augment simplicity, selling speed and processes as well as scale: all important priorities for B2Bs.
A recent Forrester study shared light on some interesting B2B figures. 74% of B2B buyers research half or more of their work purchases online before buying. The same study found that 30% make half or more of their work purchases online today, and 56% expect to make half or more of their work purchases online in 3 years. With more B2B buyers turning to online purchases, Born-in-the-cloud e-commerce systems could well be the most fitting solution.  
What’s your verdict? The greatest debate today for most of the leading and established B2B e-commerce platforms is whether or not to move to the cloud. Cloud-based applications can allow businesses to respond faster to changing business dynamics. 
There are several B2B cloud providers. Digital River, NetSuite, Apttus, CloudCraze are used commonly by leading B2Bs. International brands like GE, Adidas, Kellogg’s use CloudCraze. While Apttus’ customer base include over 100 Fortune 500 companies. 
In fact, Barry Callebaut a high-end B2B chocolate and cocoa manufacturer (you know, the one behind Oreo cookies) once said that they witnessed an 8% increase in revenue after using a cloud-based model like CloudCraze. In the same case study, when talking about implementing a model for B2B e-commerce, CIO Steven VanDamme was quoted as saying, “Get the basics right first. Start with a pilot, and then roll out and scale. Our B2B portal works well because it is structured and robust.” Apttus serves an array of crucial B2B clients like Adobe. So how has the Apttus Intelligent Cloud supported the growing needs of B2B e-commerce? One example that we came across was that of Hewlett Packard Enterprise an industry-leading technology company where Michael Pisias, Operations Manager – Office of General Counsel had shared, “HPE achieved a 28% reduction in time within two weeks of implementing their Six Sigma plan.”
This article was first appeared on MarTech Advisor
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dianesmithofficial · 8 years ago
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