Moving beyond EDI and creating better shopping experiences with B2B e-commerce
EDI plays an important role in improving efficiencies across businesses. But B2B e-commerce is growing beyond expectations through e-commerce sites, log-in portals, and marketplaces. This has led many EDI-focused businesses to launch a B2B e-commerce channel as well.
Forrester Research had predicted long back that the B2B e-commerce market will generate over $1.1 trillion in sales by 2021, accounting for 13% of all B2B sales.
While EDI has proven to be of great value to businesses for large and recurring orders, processing orders digitally and automatically enhancing speed, accuracy, and efficiency, B2B commerce tends to deal with ordering scenarios where products and order management processes may be very complex.
To put it simply, B2B e-commerce comes in where EDI is no longer sufficient.
B2B e-commerce further gives you a platform to communicate with your customers. It allows you to showcase your business catalog to consumers who can educate themselves online, helps market your products, and helps your customers keep track of orders, offers, and other data.
Many companies are expanding their B2B business focusing more on e-commerce technology. Kellogg is one such example where they are launching a B2B e-commerce channel, which includes product purchases and distribution on businesses that are not grocery, like convenience stores. They aim to create a modern ordering experience for their customers with this initiative.
Similarly, the exceptional digital experiences created by stalwarts like Amazon have created stronger expectations among buyers an excellent ordering experience. With B2B e-commerce, companies will be better equipped to understand consumer expectations and create better purchase experiences for them.