BENEFITS OF B2B MARKETPLACES FOR BUSINESSES
Today, B2B marketplaces are changing the sport for forward-thinking B2B businesses. This approach to ecommerce allows a B2B business to become marketplace sponsor and digitally connect buyers and suppliers to streamline the availability chain.
It's important to acknowledge that there are three roles during a B2B marketplace; the sponsor or seller, the buyer, and therefore the supplier. A B2B marketplace is an ecosystem and it runs the simplest when it's in balance and benefiting each role.
HERE ARE THE TOP BENEFITS OF B2B MARKETPLACES:
BENEFITS FOR THE SPONSOR OR SELLER:
Role Definition: Businesses who connect buyers with suppliers. These businesses are the "owner" of the marketplace and have an aggregated group of buyers they need to attach to a get group of suppliers.
Benefits: Sponsors capture process benefits by offloading the task of product information management to suppliers and automating workflows and approval processes required for orders to be submitted and fulfilled. Additionally, by capturing their aggregate demand during a digital marketplace, Sponsors can negotiate better pricing. From there, a sponsor captures margin by marking up supplier prices or by receiving supplier rebates when products are sold.
BENEFITS FOR THE BUYERS:
Role Definition: Businesses that buy goods and services.
Benefits: From a Buyer's perspective, these businesses get one integrated experience with access to several (if not all) supplier products that they have in one place. Additionally, a B2B marketplace allows workflows to be automated. there's no got to cut multiple POs or re-enter orders into an ERP. there's no got to place orders across multiple systems, spreadsheets, or phone calls.
BENEFITS FOR THE SUPPLIERS:
Role Definition: Businesses that provide or sell goods and services.
Benefits: From a Supplier's standpoint, a B2B marketplace allows them to standardize how they carry their products to plug . B2B Marketplace technology allows a supplier to simply plug their entire product catalog into the marketplace, update and manage product data, and have access to aggregate demand beat one place. And by managing one interface to several disparate buyers, the marketplace allows suppliers to also maintain one integration point for orders, easing the burden of automating order flow and dramatically reducing order processing costs.
Together, the three roles of a B2B marketplace work together to make benefits for each other .
It's important to acknowledge that there are three roles during a B2B marketplace; the sponsor or seller, the buyer, and therefore the supplier. A B2B marketplace is an ecosystem and it runs the simplest when it's in balance and benefiting each role.
HERE ARE THE TOP BENEFITS OF B2B MARKETPLACES:
BENEFITS FOR THE SPONSOR OR SELLER:
Role Definition: Businesses who connect buyers with suppliers. These businesses are the "owner" of the marketplace and have an aggregated group of buyers they need to attach to a get group of suppliers.
Benefits: Sponsors capture process benefits by offloading the task of product information management to suppliers and automating workflows and approval processes required for orders to be submitted and fulfilled. Additionally, by capturing their aggregate demand during a digital marketplace, Sponsors can negotiate better pricing. From there, a sponsor captures margin by marking up supplier prices or by receiving supplier rebates when products are sold.
BENEFITS FOR THE BUYERS:
Role Definition: Businesses that buy goods and services.
Benefits: From a Buyer's perspective, these businesses get one integrated experience with access to several (if not all) supplier products that they have in one place. Additionally, a B2B marketplace allows workflows to be automated. there's no got to cut multiple POs or re-enter orders into an ERP. there's no got to place orders across multiple systems, spreadsheets, or phone calls.
BENEFITS FOR THE SUPPLIERS:
Role Definition: Businesses that provide or sell goods and services.
Benefits: From a Supplier's standpoint, a B2B marketplace allows them to standardize how they carry their products to plug . B2B Marketplace technology allows a supplier to simply plug their entire product catalog into the marketplace, update and manage product data, and have access to aggregate demand beat one place. And by managing one interface to several disparate buyers, the marketplace allows suppliers to also maintain one integration point for orders, easing the burden of automating order flow and dramatically reducing order processing costs.
Together, the three roles of a B2B marketplace work together to make benefits for each other .
B2B marketplaces are changing how B2B businesses generate revenue, cut costs, connect supply chains, and more. To boost your business growth, join TradeMalaysia - www.trademalaysia.com, fastest growing B2B marketplace and whole / bulk product directory in Malaysia.
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