B2B Marketplaces for Independents
Here’s the ugly truth: business to business (B2B) commerce and services amongst independent distributors are stuck in the past. Most independents still don’t use modern software. Owners of independent businesses wouldn’t purchase office supplies, plane tickets, or other consumer goods using tools comparable to their own B2B tools so why do they run their own businesses this way?
A B2B marketplace is an online platform where one business can sell goods and services to other businesses. It brings together multiple buyers and sellers on a single web site. The basic features of a B2B eCommerce marketplace are similar to those of B2C, but B2B is still unique and has additional factors that must be accounted for.
Buyers love the versatility of marketplaces
They can fulfill a variety of their purchasing needs with a single onboarding process and maintain a central digital record of purchases. Those responsible for accounts payable love the direct integration with their accounting software that is possible with most good marketplaces. Rebate managers enjoy the real-time electronic data as well as the rebate optimization tools offered by a few top marketplaces, like the LBMX marketplace. Finally, sellers are drawn to B2B marketplace solutions for their ability to generate revenue by reaching audiences they might otherwise miss.
Modernize B2B eCommerce Practices
Online purchasing has been normalized for consumers. People expect the same interface when buying at work for B2B. Independent businesses need to become more digitally literate. Viewing business through the lens of a B2B marketplace platform will make you see your organization differently and will open up new opportunities.
Prepare now for the way business will be done in the future.
Written by Steve Seguin
LBMX offers a business-to-business marketplace platform, helping independent businesses, their Buying Groups, and suppliers buy better and sell more. Its Private Group Marketplace for Groups has transformed billing and ordering, rebate management, real-time analytics, e-commerce and product information management across the building materials, HVAC, plumbing, sporting goods, industrial supply, manufacturing, and agricultural industries. Its LBMX Supply Cloud platform allows suppliers to look at their industrial distribution customers through one lens, offering full EDI, PIM, Analytics and Payments.