B2B Omnichannel Result to Higher Levels of Customer Experience Creating New Opportunities for Manufacturers and Wholesalers
The success of online retailers, over the past few years, can be attributed to the constant development and rapid adoption of eCommerce practice of B2C business platforms. More and more consumers today have moved to purchasing products online. With this success, much of the features and convenience of B2C model is now being translated to B2B eCommerce platforms that have resulted in more opportunities for manufacturers and wholesalers to seize.
In a recent study conducted by Forrester Research, data revealed that B2B eCommerce is forecasted to reach $780 billion by end of 2015 hence yielding an estimated 7.7% compound annual growth rate over the next five years. With this, B2B eCommerce is expected to reach $1.1 trillion by 2020. This forecast is largely driven by buyers’ desire to shift to more convenient channels of purchasing products and supplies and companies’ goal to reduce costs to better serve clients.
The desire of potential buyers to shift to online purchasing prompts manufacturers and wholesalers to drive sales into a higher level of customer experience with the use of B2B platforms with ERP solutions. Here are a few benefits that manufacturers and wholesalers alike experience with having an eCommerce platform in place:
Seamless supply chain management from manufacturer to supplier to wholesaler, retailers, and eventually end-consumers
Most if not all products offered by manufacturers and wholesalers will ultimately land on the end-consumers’ hands. With eCommerce, manufacturers and wholesalers experience the same efficient effect, as that of tried and tested channels that are echoed through the entire and end process of the supply chain.
With a B2B eCommerce platform, manufacturers and distributors are enabled to offer a seamless sales process that leads to an efficient method of offering products to consumers while buyers experience fast and convenient access to ordering supplies when needed.
Significantly reduce administrative costs
B2B eCommerce solutions are not only packed with features that provide convenience for consumers, it also has the inherent capability to adapt various business functionalities covering multiple segments of administrative, accounting, purchasing, operational, marketing, and sales processes. Procurement process, for example, can be easily integrated via an add-on into a B2B platform that results to easier stock level and inventory management, monitoring, and report.
Moreover, eCommerce platforms enhanced with ERP solutions yield accurate results for a faster decision-making process, both on the end of the manufacturer or wholesaler and that of the consumer. Real-time data availability has made repeat orders from customers easier with better customer relationship management that eventually leads to increased sales.
B2B omnichannel drives higher levels of customer experience