For traders, there are now a place for them to communicate, collaborate and also, conduct business transactions with the availability of Business to Business or B2B marketplace. B2B marketplace is taking advantage of the internet and is focused on providing large businesses a platform for its members to purchase and trade. Basically, this helps to boost the reach of company and its exposure at the same time. Here are several reasons to why you must consider using this community marketplace.
Reason number 1. A big community of traders – as you sign up to an established and well known B2B marketplace, companies are given easy access to lots of potential buyers and suppliers. Typical sized marketplace is more likely to include thousands of members. With this broad range of community sellers and buyers, it offers the perfect opportunity for a business to expand by means of sourcing new customers and suppliers. Oftentimes, a business can drastically increase trade by closely working with companies that are gathered in this kind of marketplace.
Reason number 2. Real time marketplace – another benefit to buyers on such B2B marketplace is the fact that they are granted access to resources that is valuable in helping them compare and study products available, conduct research and even learn about if there are changes in pricing. Since traders get the vital info they need in single market, it makes things easier for them to decide on which purchase would be best.
Reason number 3. Comprehensive display features – common B2B marketplace consist of comprehensive e-Catalog to be able to help in displaying hundreds to thousands of products. Through the integration of complex CMS or Content Management System, it is able to provide its members a user friendly navigation, real time handling of the market processes, sophisticated search capabilities and ease of organizing and at the same time, publication of product info. In meeting shorter sale cycles, increased revenue and better customer satisfaction, this advanced marketplace provides great benefit to traders.
Reason number 4. Expedited selling process – all-inclusive B2B marketplace is sure to help in expediting both the selling process and even reduces wide ranging overheads that most businesses are experiencing. In these trading portals, it covers almost every phase of the transaction whether it is buying or selling and that includes invoice, quotation, negotiation as well as shipment tracking.
Because the system is making use of electronic sales solution, the cycle for sales are significantly reduced which then helps in cutting the processing costs. In paper systems, there’s a high probability of dealing with errors unlike with full electronic system, this is almost non existence. Number 5. Electronic procurement – this is connected to the effective methods that are used to perform business over the web between buyers as well as sellers.