B2B E-Commerce Technology: The Global Perspective

1
B2B E-COMMERCE TECHNOLOGY
The Global Perspective
2
B2B E-COMMERCE MARKET
One of the fastest growing markets, B2B e-
commerce has completely transformed the
functioning of B2B organizations. The market
share of B2B e-commerce is expected to reach USD
6.7 trillion by 2020, over double the expected
market of its B2C counterpart (USD 3.2
trillion). Distributors are shifting to online
platforms quickly out of fear of losing out to
competitors.
3
WHAT MAKES B2B
E-COMMERCE A FAST- GROWING MARKET?
Two primary forces that are driving growth are
ease of conducting business and greater customer
relationship management offered. An online
platform allows businesses to streamline a wide
variety of functions such as order management,
delivery efficiency, and pricing modules.
Further, a platform with built-in CRM like
Salesforce offers a business the ability to
increase the personalization of each customers
experience. Good customer relations have been
the foundation for B2B commerce and online
platforms take them to the next level using the
plethora of data they generate.
4
FEATURES THAT MAKE A CLOUD- BASED PLATFORM A
POPULAR
CHOICE FOR B2B ORGANIZATIONS
Configure Price Quote (CPQ) modules Chatbots for
personal purchasing Omnichannel marketing.
5
CLOUD PLATFORMS TRANSCEND GEOGRAPHICAL
BOUNDARIES
The reach of a business increases to a global
scale where it can interact with other
organizations around the world. Dealing on an
international scale becomes simplified because
customers can view the prices in their local
currency, use preferred payment methods, and
ensure that regulations for trading are met.
Communities can be formed around the world which
provides a cohesive and approachable stage for
customer interaction.
2019 DOCMATION
6
WHERE DO WE GO FROM HERE?
Many organizations made the mistake of creating
their own technology stacks for e-commerce which
raised the total cost of ownership. The current
trend shows that cloud-based platforms are
preferred by new entrants because they are more
convenient, cheaper, and more effective. Businesse
s that created their own platforms are also
shifting to the cloud.
2019 DOCMATION
7
THE DIGITAL ERA
Organizations need to work externally as well to
increase the benefits they receive. According to
Google, approximately half of the queries
regarding B2B commerce originate from
smartphones. Businesses should develop a mobile
app or a mobile- specific website to take
advantage of this aspect. There are options for
app development available on Salesforce which
enable companies to pursue this avenue easily.
2019 DOCMATION
8
BUILDING A SOCIAL MEDIA PRESENCE
Social media channels should focus not only on
brand visibility but also on building personal
relations with customers. This social media
presence should be combined with an easy-to- use
website that contains all the necessary details
required by the customer. Explainer videos,
product details, testimonials and perhaps an
immersive product experience are key in
convincing customers, leading to more sales.
2019 DOCMATION
9
FINAL THOUGHTS
The B2B e-commerce market is growing at a
Compound Annual Growth Rate (CAGR) of 15 per
year. In India alone, the market is expected to
see a USD 400 billion growth from 2015 to 2020.
These statistics are symbolic of the
unprecedented growth seen by the market due to
technological advancements, and it is only
expected to rise further thanks to the
innumerable tools offered by cloud-based
platforms. Platforms like Salesforce are
representative of the modern, technologically
advanced, global market, and its time for B2B
companies to take advantage.
2019 DOCMATION
10
A D D R E S S
3295 River Exchange Dr Suite 522-107 Norcross, GA
30092 P H O N E 1-908-854-4068 E M A I
L info_at_docmation.com
CONTACT US
WWW.DOCMATION.COM DOCMATION 2019. ALL RIGHTS
RESERVED.