B2B Ecommerce Platform Archives - Cloudfy B2B Ecommerce Software

Managing B2B ecommerce security risks at peak times

Cloudfy Inc — Thu, 21 Dec 2023 12:20:49 +0000

Large volume business to business (B2B) ecommerce orders have high values that make them attractive targets for cybercriminals. They have many ways to exploit system vulnerabilities and gain access to confidential company data and other sensitive information.

Attacks can include viruses, malware, malicious software or attachments, false websites and misleading emails. Potentially, one of the most serious types of attack is ransomware, representing almost a quarter of all attacks. Criminals design software which infiltrates business systems and stops them working. Often there is no way to restore operations without the encryption key.

However, according to data service experts three quarters of attacks also have an element of human error. Any planned security measures must take account of both technical and human vulnerabilities.

Defending against security breaches

With a clear understanding of B2B ecommerce security risks there are many things you can do to stop the criminals.

You can use measures to protect online transactions and sensitive customer information, like credit card details or login credentials. These allow you to maintain compliance, protect integrity and ensure confidentiality. Your data is still available when you need it but you can stop unauthorized access, fraud, and cyber threats.

Measures include secure payment gateways, encryption technology, firewalls, and robust authentication processes. You can ensure safe handling of your customer data and financial transactions during your busiest times. Most importantly, a proactive approach helps build customer trust by safeguarding their sensitive information and blocking potential threats.

Example: Henry Schein Inc.

Around three quarters of business transactions for Henry Schein Inc. are via ecommerce and electronic data interchange (EDI). A data breach seriously affected business for the leading distributor of medical and dental products for over four weeks. Cybercriminals stole company data and bank account information for some suppliers.

On 14 October 2023 a major cyberattack of its core systems, included distribution and ecommerce, causing serious sales disruption. A month later the company confirmed key systems remained unavailable with work hampered by the Thanksgiving holiday.

A delay in filing full third-quarter results is expected, along with an insurance claim related to the incident in 2024.

Security risks

Threats for B2B ecommerce companies aren’t only about physical computer systems. There are also exposures in software, networks, and infrastructure.

B2B sellers deal with more complex products, have a more diverse customer base, and manage larger order volumes. Criminals also know that sectors such as energy and petroleum, for example, are time-sensitive and can’t afford business disruption.

High order values and risks to customer loyalty also catch the attention of cybercriminals. Because they can cause more damage, they can demand more for the return of key data. Targeted companies might be more likely to pay a ransom demand to minimize the repercussions of delays, especially during peak times.

Ransomware – a major B2B ecommerce threat

As the name suggests, criminals can hold your company’s critical information to ransom. They can smuggle software into your business systems that encrypts your data. Only they have the encryption key that unlocks your information. However, making a payment doesn’t guarantee you’ll get your data back. Regulators and insurers increasingly advise against making ransom payments.

Sometimes, criminals simply threaten to encrypt your data and demand payment when they haven’t accessed your systems. Or they might introduce a screen locker that stops people using their computers. Your first level of protection is to have access to skilled IT professionals who can quickly identify whether an attack is real or threatened. If criminals gain control of critical data none of your security scans or restoration processes will help.

The damage caused by ransomware is much greater than the price of the ransom. As well as the ransom itself, many businesses lose revenue and future business opportunities.

Without access to your business critical systems, you can’t make sales or support your customers. Adverse publicity damages your reputation and might deter customers and investors in future. The costs of recovery could even put your business survival at risk.

Regular backups for your key data and business systems allow you to respond and recover from ransomware attacks quickly. While you might lose some information you can get everything up and running again without paying the ransom or damaging your reputation.

Security risks in B2B ecommerce

Many B2B companies moved online during the pandemic and might not have had time to implement good security practices. Moving on, adopting more new channels could create gaps in security awareness and expertise. Manufacturers, distributors, and wholesalers are still prioritizing issues associated with pressure on their supply chains. As a result, unaddressed vulnerabilities could leave operations open to criminal attacks.

Example: Colonial Pipeline
In May 2021 a ransomware attack on Colonial Pipeline hit the headlines. Americans feared fuel shortages for essential journeys. With a highly connected national energy infrastructure everyone was aware of the impact. Supply chain interruptions, shortages and disruption of essential services led to increased prices.

The US Cybersecurity & Infrastructure Security Agency (CISA) has since expanded its ‘CyberSentry’ capacity. This provides additional visibility for faster detection of cyber threats that could affect critical operational networks. CISA says: ‘The days of relegating cybersecurity to the CIO or the CISO must end. CEOs and Boards of Directors must embrace cyber risk as a matter of good governance’.

Originally, criminals would target ecommerce sites that hadn’t updated their security to steal money. They have now become more sophisticated, targeting specific industries and groups they can disrupt, giving them more power and access to larger payments.

B2B ecommerce businesses and supply chains in countries like the UK, US, and Canada are likely to have more at stake. It’s worth the criminals’ effort to look for and exploit any type of vulnerability. They might even study business and employee patterns and processes to find the weakest security links. Employee training is a high priority to maintain good security practices, especially at peak times.

Other risks

Remote desktops

With a remote workforce, a virtual private network (VPN) maintains online privacy by masking IP (internet protocol) addresses. A VPN provides encrypted and secure connections to the worldwide web. Without it, attackers might remotely access systems and processes and undermine your business.

Brute force attacks

A brute force attack is a relentless process of trial and error. Usually automated, these attacks often involve guessing potential usernames and passwords. Alternatively, they might use valid credentials stolen from other breaches across multiple systems. This is why your security should include a strong password policy and enforced updates for employees and customers.

Email engineering

Because emails are such a common business tool it’s easy to take their security for granted. Social engineering attacks like phishing and spear phishing target individuals. Business email compromise (BEC) attacks impersonate genuine email account owners to gain access to critical information. They can look very convincing, so staff training and ongoing reminders are essential, not just during peak times.

These emails look credible but have been designed to persuade someone to use a rogue link or open a compromised document. This immediately introduces a harmful program that can infiltrate your business systems. Cyber criminals can then steal your valuable data or lock it up so you can’t access it. Spam filters will prevent these emails, and this can be an effective approach. Also use regularly updated anti-virus software to protect against known threats.

Software updates

Maintaining software is often time-consuming and can disrupt business processes. However, failing to install updates for known vulnerabilities will expose your whole organization to risk. When you have a software as a service (SaaS) B2B ecommerce platform you receive regular updates in the cloud. This is just one of the ways you can make sure your defences stay up to date.

System sharing

In B2B ecommerce, business system integration provides seamless end to end solutions that improve performance and customer service. However, rogue software can scan for shared data that will allow it to infect other computers and systems. Reliable and thoroughly tested integrations and security protocols are needed to prevent this from happening.

The post Managing B2B ecommerce security risks at peak times appeared first on Cloudfy B2B Ecommerce Software.

Why Food & Beverage Companies Need a Purpose Designed B2B Ecommerce Platform

Cloudfy Inc — Wed, 13 Dec 2023 13:59:17 +0000

Food & beverage (F&B) companies can realize great benefits through B2B ecommerce. Efficiency is a top priority when products have limited shelf lives, competition is high and margins are tight. With stringent compliance and regulatory requirements, the right B2B ecommerce solution helps you meet the F&B sector’s unique challenges.

Speed and accuracy are essential in the F&B sector. Challenges from spoilage to compliance and stringent margins make effective and reliable sales processes vital.

You already know most consumer ecommerce platforms don’t have the features needed for business to business (B2B) F&B sales. With Cloudfy’s cloud based B2B ecommerce solution for the F&B sector you can easily manage around-the-clock ordering for multiple locations.

Cloudfy is purpose designed for complex high volume sales and helps you simplify your operations and reduce your costs. Your customers can easily order what they want, when they need to, with clear information about pricing and deliveries. With a sales rep app and customer ordering app included, you’re ready for anytime, anywhere sales.

Just one of Cloudfy’s many bespoke features is serialized licence number management. Cloudfy allows you to easily assign unique licence numbers to your wholesale orders for simplified tracking, returns and recalls.

You can simplify your order-to-cash (O2C) processes, reduce administration and be ready to scale your operations as your business grows.

B2B ecommerce features purpose designed for the F&B sector

SEO

Search engine optimization (SEO) features improve your B2B ecommerce site’s search engine rankings, helping you attract new customers. They might include easily customized page titles and descriptions, and keywords for each page and product on your site. Along with well-structured pages and links containing relevant keywords you’ll help customers find you online.

Easy user interface

Your customers will buy online if it saves them time so easy site navigation, helpful searches and simple reordering are key requirements. With early to late opening hours, around the clock self-service is ideal in the F&B sector. Your customers can manage their payments, returns, and back orders at convenient times. All their accounting records are at their fingertips and they can easily download copy invoices and account statements. Your B2B ecommerce site can automatically create tailored order lists based on their purchasing history.

For multi-site businesses centralized ordering with multiple delivery addresses simplifies everything. Advanced account and order management features support separate locations and accounts along with delegated purchasing with central spending control. Separate buyer accounts with their own order lists provide flexibility, easy reporting and analysis. Alternatively, if requirements change, global updates can be made to all lists.

Back office support

Manual data entry slows down processes and can introduce errors. Connecting your B2B ecommerce portal with accounting, warehouse management and order processing systems improves processes. Tried and tested integration with your enterprise (ERP) systems provides a complete view of your business operations.

Product information

Effective product information management (PIM) allows you to create customer specific catalogs and to restrict order quantities or product combinations. This is especially important if you have a large product catalog. You can establish exclusivity deals and hide products according to your customer’s profile.

Bespoke promotions

No two customers are the same, so your promotions must be personalized to meet their needs. Advanced marketing features give you flexibility to run promotions based on pricing, selected rewards, or custom bundles, for example. With access to detailed reports, you can easily evaluate the effectiveness of different approaches.

Real time reporting

Tight F&B profit margins demand fast and effective reporting. If supply costs increase, it’s essential to calculate the impact on revenue quickly and update pricing. Your customers also need to calculate their own margins before placing their orders. Easy to use calculators can update recommended retail prices (RRP) or provide a picture of gross profit based on sale prices.

Inventory visibility

You can improve visibility throughout the supply chain with accurate and reliable inventory information. Color coding can show when stocks are running low to help your customers manage their orders and avoid delays. You can also provide ‘back in stock’ notifications.

Delivery options

Making sure your customers receive their orders when they need them is critical. Delivery configuration features allow you to show delivery days by location and latest order times. You can also include options for third-party premium deliveries for urgent orders on weekends or Bank Holidays, for example.

EDI and PunchOut

For your larger customers you can streamline purchasing with electronic data interchange (EDI). You can even create their own bespoke PunchOut catalogs to simplify their internal procurement and approval processes. Your customers can also place their orders using Excel spreadsheets or their own favorites lists. No matter how orders are placed, you can manage them all seamlessly within your own business systems.

D2C sales

If your current business model is exclusively B2B your ecommerce platform offers opportunities to explore direct to consumer (D2C) sales. This could provide a new revenue stream to complement your existing trade-only channels, helping you diversify your sources of income. With the right B2B ecommerce platform you don’t have to launch an additional website or add to your IT overheads. You can explore new consumer-focused markets quickly and cost effectively.

Book a free Cloudfy demonstration today to discover the power of a purpose designed B2B ecommerce platform for your F&B operations.

The post Why Food & Beverage Companies Need a Purpose Designed B2B Ecommerce Platform appeared first on Cloudfy B2B Ecommerce Software.

Enhance Customer Experience: The Benefits of a Modern and User-Friendly B2B Ecommerce Platform to Attract and Retain Customers

Cloudfy Inc — Fri, 08 Dec 2023 12:37:00 +0000

Your business to business (B2B) ecommerce platform allows you to improve customer experiences and stand out in a competitive world.

Price and product quality are important but customer experience is a key differentiator for your B2B clients. As competition increases high quality service helps you attract and retain valuable customers.

Providing a seamless and intuitive online purchasing environment attracts new business and helps retain and impress your existing customers.

Cloudfy is a powerful B2B ecommerce platform providing an intuitive and easy-to-use interface for complex sales. It streamlines the buying process to help your customers find and purchase your products. You can offer personalized recommendations and pricing, efficiently manage orders and maintain reliable fulfillment.

You can create custom category menus and restrict sales of certain products or combinations to meet your compliance obligations. With unique homepages and dashboards, your Cloudfy site can deliver exactly what your customers need.

With near real time inventory status indicators B2B buyers know how much stock is available. For your stock-sensitive customers you’ll meet or exceed their needs and build long-term relationships.

Your B2B ecommerce site must certainly provide an easy online self-service channel but it’s so much more too.

Here are 12 examples of how to transform customer relationships with B2B ecommerce good practice.

Understand customer needs

To create high quality customer experiences, you must know what your customers are looking for and how you can help. They are unlikely to make impulse purchases, so you must give them good reasons to buy from you.

Your B2B buyers are responsible for obtaining the best value for their company’s spending. They must carry out extensive research to find the best options. Often they will be part of a buying group, so they will need evidence to support their recommendations. They will value your help when you provide easy discovery, simple site navigation, quality content and transparent pricing.

Invest in research to understand the challenges your customers face and help to overcome them. It’s your first step towards becoming their supplier of choice.

Be customer-centric

Your business makes a difference to your customer’s overall experience every time you interact with them. All your teams must understand your customers and collaborate to meet their needs. To do this successfully make sure your business systems are integrated, so everyone can see and use the same information. The insights into customer behavior you gain will allow you to provide tailored recommendations and personalized experiences. Customers will be happy to share information to help you provide what they need.

Provide dynamic desktops and marvellous mobile experiences

Your B2B ecommerce site must be clear and easy to use on desktop PCs. However, mobile devices aren’t only for personal online shopping so your B2B ecommerce platform must also provide seamless mobile experiences. This requires optimization for smartphones and tablets, providing easy navigation, fast page loading times, and streamlined checkouts. Your buyers won’t wait if pages load slowly and will soon lose interest in badly designed mobile purchasing journeys.

Streamline self-service

When your customers choose to make unassisted purchases, they must be as frictionless as possible. This reduces your administration and cuts back on manual data entry errors. From checkout to delivery your customers will feel in control when they can see near real time order status updates.

Make purchasing easy

The checkout process should be quick, easy, and secure, with multiple payment choices to suit your customers. This includes credit card payments, PayPal, and other digital options. To reduce cart abandonment, you should also consider offering a guest checkout alongside clear and transparent shipping and return policies.

Automate processes

Business system integration, artificial intelligence (AI) and machine learning (ML) can automate, streamline and simplify processes for seamless customer experiences. Chatbots can answer questions at any time while your sales and customer services teams collaborate to find solutions. Simple workflows can predict when customers need to place new orders and send reminders. You can create triggers for automatic communications, promotions and tailored product recommendations.

Educate and advise your customers

Busy B2B buyers want reliable, accurate and unbiased information. Many carry out independent research to avoid unhelpful sales pitches. Proactively taking an advisory role will help them find the answers they’re looking for. Providing expert advice on key challenges and trends in your industry builds your reputation. Creating high quality and informative content in multiple formats and sharing it widely helps to build relationships. Resources like online knowledge bases, chatbots, and supported community forums help customers find solutions to problems without extra help.

Meet after sales needs

To build customer loyalty and increase lifetime value outstanding customer experiences mustn’t end once the purchase is complete. Excellent post-purchase support helps your customers work more efficiently. This might include regular reviews with customers to understand how their needs are changing as their businesses grow. You can provide online libraries of ‘how to’ advice and troubleshooting guidance as part of your role as an educator. You’ll minimize or even remove the risk they’ll move to another supplier.

Respond quickly

If your customers have a problem they’ll want a quick resolution. You’ll build much stronger customer relationships when they feel they can rely on you for support. Live chat accessed via your B2B ecommerce platform is ideal for real-time communication without around the clock on-call services. Whether they need to ask a question or make an urgent purchase they’ll value your assistance.

Monitoring your social media accounts for customer enquiries is also a good way to connect with clients and provide prompt responses.

Be proactive

You can solve your customers’ problems before they know they have them. This can include identifying and sharing ‘fixes’ when customers face unexpected issues. You can also anticipate your customers’ future needs and suggest solutions based on their changing profiles. This might include running online workshops or seminars on subjects that are emerging in your sector.

Take accessibility seriously

Some people might need extra assistance to access and use your B2B ecommerce site. However, making sure everything is as simple and clear as possible benefits everyone.

Following industry-standard web accessibility guidelines shows you take the issue seriously and are committed to providing good all-round customer experiences. This might include basics like alt text for images and captions for videos to using clear and concise website content and design.

Listen to your customers

Coming full circle from your customer research, it’s also important to listen to what they say to you. Delivering the ideal customer experience depends on their specific needs and they are best placed to explain how you can help.

Collecting, analyzing, and sharing customer feedback must be part of your continuous improvement practices. You’ll have first-hand explanations of how you can overcome barriers and bottlenecks in their purchasing journeys.

The post Enhance Customer Experience: The Benefits of a Modern and User-Friendly B2B Ecommerce Platform to Attract and Retain Customers appeared first on Cloudfy B2B Ecommerce Software.

Proactive Measures for Managing a B2B Ecommerce Platform During Peak Times

Cloudfy Inc — Wed, 29 Nov 2023 13:40:49 +0000

B2B ecommerce is a key tool to drive revenue growth and the model is evolving all the time. Each year your fourth quarter is probably filled with highly focused and intensive sales activity. Your teams will be driving ahead to meet year-end targets and prepare for next year.

There are some key steps you can take to make sure customer service remains fast, reliable and secure during your busiest periods. Most importantly, you can continue delivering exceptional customer experiences when it matters most.

Cloudfy helps you stay ahead of your competitors and manage the additional business challenges you face at busy times.

Many B2B companies quickly discover that ecommerce platforms are often retail solutions offering only a limited selection of trade-specific features. In contrast, Cloudfy is a scalable ecommerce solution with powerful tools designed for complex B2B sales. You can streamline your business operations and keep things running smoothly, no matter how busy you are.

Cloudfy is purpose designed to meet the needs of manufacturers, wholesalers and distributors. The easy to use dashboard allows you to automate processes and reduce administration. There’s also a powerful range of self-service tools and out-of-the-box business system integrations to meet your toughest B2B business challenges.

Busy buyers can place their purchase orders through your Cloudfy B2B ecommerce site or the customer ordering app. The information goes straight to your enterprise (ERP) system without any further manual data entry. You’ll reduce errors and speed up processes during busy periods.

While many B2B companies adopted ecommerce as a necessity during the pandemic it’s unlikely they’ll return to traditional sales methods. In fact, manufacturers, distributors and wholesalers are recognising the benefits of B2B ecommerce more than ever. Inflation, supply chain disruptions and staff shortages will all add to B2B companies’ operational challenges during periods of high demand. Your B2B ecommerce platform allows you to overcome these and other peak season issues and improve customer service.

B2B ecommerce provides access to global audiences, even for small and medium-sized enterprises. With a software as a service (SaaS) solution scaling your business has never been easier or more cost effective. Now you can capture data for near real time customer behavior analytics and insights, improve planning, decision making and marketing.

However, intense competition in a fast-growing online market makes it hard to stand out and attract loyal long-term customers. Your buyers research extensively online and expect to find specific recommendations and high quality service to suit their needs. These are priorities all year around but are key to winning new business and retaining customers during your peak season.

Here are five B2B ecommerce strategies you can adopt to effectively increase online sales during busy times.

Deliver high quality customer experiences

Your buyers value personalized experiences at work as well as for their personal shopping. Many companies find it challenging to deliver the same fast and seamless purchasing journeys online in a B2B environment. However, accurate data about customer behavior and preferences allows you to help buyers do their jobs more efficiently. You’ll increase sales and gain new loyal customers.

Another good business growth tactic is to encourage additional purchases from your existing customers via your B2B ecommerce platform. Integration with your customer relationship management (CRM) system allows you to promote more frequent or higher volume purchases. You can also gain insights into effective strategies to target key customer groups and products during peak season.

Make sure your content is clear and relevant and designed to simplify your buyers’ online journey. Give customers incentives to allow you to send promotions and relevant offers. Actively reach out to those who haven’t purchased recently with extra seasonal ordering discounts.

Prioritize logistics and shipping

Complex B2B shipping and logistics requirements are always a significant challenge during peak season. Cost effectively satisfying your customers’ time-critical deliveries will give you an advantage over your competitors.

Prioritizing effective and transparent communication helps you manage customers’ expectations and minimize status enquiries during your busiest period.

Advance preparation at your warehouses and fulfillment centers helps mitigate potential supply chain issues and meet increased demand. Accurate financial reporting and forecasts help you optimize inventory storage, improve your warehousing processes, and streamline onward deliveries. Working with the right logistics partner helps to efficiently handle local custom and tax requirements, order tracking, and last-mile deliveries.

Your buyers value delivery choices options that increase flexibility and reduce costs. Find out what will be most useful, such as personally collecting and returning products to local distribution hubs, for example.

Ensure security

Payment fraud is a major concern for both traditional and ecommerce B2B sales. Fraudsters know that B2B companies process high volume high value orders, making them attractive targets. Your customers want reassurance that your strict fraud prevention procedures aren’t under pressure at busy times.

While fast payments are a modern-day requirement, they increase the risk of criminal activity online. Make sure your B2B ecommerce platform security measures include firewall protection, intrusion detection, prevention systems, and regular security updates.

Implement business system integration

Data silos hinder business growth. Integrating key business systems with your B2B ecommerce platform streamlines and simplifies your operations. During your busiest times it is much easier to meet high demand cost effectively when systems and departments work together. You’ll have an accurate view of your inventory and order levels to improve stock control and order fulfillment. You’ll also avoid overstocking which places unnecessary pressure on cashflow during your peak season.

Automating business processes saves time and money and transforms your order-to-cash (O2C) cycle. Replacing manual processes reduces ordering errors and improves efficiency. You can invoice your clients directly from your ERP or create rules to trigger invoices within your B2B ecommerce platform. Alternatively, integration with your payment gateway allows customers to pay during checkout. By designing automated workflows to suit your business, you can confidently meet high demand and improve customer satisfaction.

Simplify product returns

Administering refunds and handling the product return process adds to your costs and takes away resources from order fulfillment. Poor processes can affect future sales and damage your reputation. In contrast, a clear returns policy backed up by effective logistics can improve customer retention.

Improves processes by asking for reasons why products are returned. These might include faults, purchasing the wrong product, or ordering too many. The answers are useful indicators that quality assurance could improve or product descriptions and minimum order quantities aren’t clear.

Find out how to simplify, save and scale your peak season operations with Cloudfy’s scalable B2B ecommerce solution.

The post Proactive Measures for Managing a B2B Ecommerce Platform During Peak Times appeared first on Cloudfy B2B Ecommerce Software.

Unlocking the Power of Global Expansion: A 7-Step Guide for B2B Ecommerce Companies

Cloudfy Inc — Wed, 22 Nov 2023 12:56:22 +0000

Global expansion allows business to business (B2B) ecommerce companies to grow despite political and economic uncertainty and supply chain disruption. Successfully expanding operations internationally requires a strong strategy and outstanding delivery.

More than eight out of 10 B2B buyers already prefer ordering or paying through digital channels. Enabling cross border digital sales is a logical step to access different customer markets. However, it brings new challenges that B2B brands must understand and overcome to succeed.

Your global expansion strategy

Global expansion may seem daunting when you’re considering which countries or regions to choose. You’ll need to make strategic decisions about whether to target developed or emerging markets. Effective engagement and marketing in local languages and understanding legal, social and cultural differences are significant challenges.

Your global expansion strategy must create the best opportunities in countries that offer the most potential for growth and profitability. You’ll need to analyze economic indicators, assess market competition, and possible barriers to market entry.

Many management teams don’t have experience of entering new international markets. To make the right decisions you’ll need high quality technical support and an agile approach so you can change your plans if necessary.

Understanding complex international markets

Expanding your business in other countries offers huge opportunities for growth. It’s important to understand the impact of cultural, social and language differences when choosing a new market overseas.

Seven Steps to Global Expansion

Here are seven steps you can follow to unlock the power of global expansion for your B2B ecommerce business.

Step One: Embrace localization

Customers in different regional and national markets expect more than an automated translation of your existing ecommerce site. It’s important to take account of the cultural and social tone of your content as well. You must take time to understand the significance of different colors, styles and imagery too. Product features and pricing might also need to change.

Twenty years ago, Coca-Cola had to accommodate local nuances in China. It’s original brand translation locally meant ‘bite the wax tadpole’, which wasn’t ideal for marketing. The alternative phonetic equivalent ‘ko-kou-ko-le’ translates more poetically as ‘happiness in the mouth’ which is certainly more appealing.

Even differences between English-speaking markets such as the UK, America, Canada and Australia are significant. Taking time to make sure these details are properly understood and addressed will reflect well on your brand.

Step Two: Refine your sales and marketing

Millennial and GenZ B2B buyers around the world expect engaging and easy purchasing to match their personal online shopping experiences. Personalization and useful immersive content are minimum requirements. Ordering and payment must be as frictionless as possible. However, addressing regional and national preferences, legal and tax requirements in different markets will affect your international plans. Assuming your established approach translates well in other countries is likely to be a costly mistake.

Working with local partners is a good way to enter new markets. This might involve market research, new lead-generation approaches, and regionally specific advertising and marketing. Understanding how specific key performance indicators for each new market feed into your overall strategy is also essential.

Ecommerce gives your business access to customers around the world. To successfully create new opportunities, improve efficiency and engage different markets you’ll need to optimize your approach for each location.

Step Three: Understand local pricing

You must understand local attitudes towards pricing to sell successfully in international markets. Depending on your operations you might need to include the cost of shipping, import duties, warehousing or production. Local expectations about what’s included in the displayed product price and what’s added at checkout could significantly affect your conversion rates.

Pricing in the local currency is more convenient for your customers but adds complexity to your sales. Enterprise (ERP) system integration with your B2B ecommerce platform and rules-based calculations can streamline and simplify the whole process. Flexibility to customize the checkout experience for a range of different buyers according to their login credentials is ideal.

Step Four: Provide localized payment options

Multi-currency payment processing is needed to suit your customers’ preferred methods. Globally available options such as Apple Pay and PayPal include features like invoicing, tax calculations, and rapid settlement. However, adoption can vary significantly by location. Some businesses might prefer peer-to-peer networks, online banking apps or mobile wallets, for example. International requirements for payment security, multi-currency charges, refunds, and legal constraints are all important considerations.

The trend towards real-time, lower-fee payment methods continues and is expected to dominate future payment transactions across all regions. McKinsey’s recent global payments report shows a 13% increase in cross-border payments in 2022, reaching about US$150trillion.

Step Five. Commit to transparency

The more foreign markets you enter the more complex fulfillment processes become. Clarity about product availability, shipping times, and delivery options are important. Prebuilt integration with solutions like ShipperHQ ensure customers have all the information they need.

As supply chains remain under pressure your ability to provide reliable information about shipping and delivery is an important differentiator. Powerful inventory and logistic tools provide real-time information online and streamline request for quote (RFQ) workflows to give buyers confidence.

Step Six: Control compliance

When your brand crosses borders you must deal with multiple taxation requirements. That involves understanding sales tax details from Chile to China along with all the relevant documentation. It can all be automated by embedding compliance solutions at checkout.

Data privacy requirements also vary internationally so marketing data collection requires careful handling. To demonstrate compliance and avoid fines good record keeping, access control and security are essential.

Step Seven: Streamline fulfillment

Your buyers will expect simple and efficient order fulfillment. Shipping across borders is complex, so your B2B ecommerce platform must automatically handle shipping rules and rates promptly and accurately.

Relationships with fulfillment partners in key markets can simplify your requirements and build in resilience. Data sharing via your ecommerce platform will keep things running smoothly.

Global brand success

Selling across borders is a growth opportunity for your B2B ecommerce brand. It brings with it specific organizational, marketing, sales, and fulfillment challenges.

Your B2B ecommerce platform must be scalable and adaptable, consistently delivering purchasing excellence and personalized services. It must also support collaboration with a network of business partners, allowing you to meet customer expectations and build firm foundations for cross-border expansion.

Cloudfy is purpose designed for complex business to business sales and offers a host of features to support global expansion. Multi-language and multi-currency functionality is available out of the box, with no need for costly customization. Your customers can make their purchases using different currencies and can browse your B2B ecommerce site in their local language. You can provide personalized user experiences designed to maximize conversions.

Discover how to unlock the power of global B2B ecommerce today. Book a free Cloudfy demonstration.

Frequently Asked Questions

What is the importance of global expansion for B2B Ecommerce?

Global expansion allows B2B Ecommerce companies to grow despite economic uncertainties and supply chain disruptions. It opens new markets, enhances efficiency, and improves customer satisfaction.

How can Cloudfy's 7-Step Guide help in global expansion?

Cloudfy's guide provides a comprehensive roadmap, covering aspects from localization and marketing to pricing, payments, compliance, and fulfillment. It offers practical steps to successfully expand your B2B Ecommerce business globally.

What challenges does global expansion pose for B2B Ecommerce companies?

Challenges include understanding local markets, cultural differences, and compliance issues. Cloudfy's guide addresses these challenges, providing insights and solutions to navigate the complexities of international expansion.

Why is localization crucial in global expansion?

Localization is vital to understand cultural nuances, language differences, and regional preferences. Cloudfy emphasizes the importance of embracing localization to effectively connect with diverse international audiences.

How can B2B Ecommerce businesses optimize their approach for different locations?

Cloudfy recommends understanding local pricing, providing localized payment options, committing to transparency, controlling compliance, and streamlining fulfillment to optimize the approach for various international markets.

The post Unlocking the Power of Global Expansion: A 7-Step Guide for B2B Ecommerce Companies appeared first on Cloudfy B2B Ecommerce Software.

Generational Shifts in Business Procurement: Navigating the Impact of Millennial and GenZ Buying Habits

Cloudfy Experts — Thu, 16 Nov 2023 15:55:57 +0000

Growing up with the internet and smart phones has shaped a wide range of millennial and GenZ buying habits.

People born after 1981 now represent almost two thirds of business procurement professionals. They expect fast and engaging online buying experiences and won’t hesitate to express their dissatisfaction. Already around three quarters of business purchases take place online. By 2025 it’s predicted more than a third of the younger generation of buyers will choose self-guided digital channels.

How do these shifts in business procurement preferences affect business to business (B2B) ecommerce?

A new generation of business buyers

Millennials and GenZs or ‘zoomers’ are now the majority of those buying goods and services for their organizations. A recent report from Forrester confirmed they have very high expectations of B2B ecommerce.

To reach and engage younger buyers effectively manufacturers, distributors and wholesalers must understand their needs and expectations.

Their preferred buying behavior, combined with continuing economic uncertainty and tighter budgets, means sales and marketing strategies need updating.

Buyer expectations

Younger buyers are likely to prefer suppliers’ B2B ecommerce websites, marketplaces, app stores, and Internet of Things (IoT) enabled products. As self-service transactions increase the priority is to deliver easily discovered products and seamless purchasing experiences aligned with these choices.

Third party product data

Younger buyers actively look for a wider variety of information sources. Their research includes more independently verified third-party resources such as customer reviews, product comparisons, industry-specific websites, forums and message boards. B2B companies must plan to create and share useful and engaging information much more widely in future.

Critical evaluation

Nine out of 10 younger buyers will express and share their dissatisfaction with poor purchasing experiences. This compares with seven out of 10 older buyers. Understanding the whole customer journey from your buyer’s perspective is now the key to customer satisfaction.

Time management

Time is an important consideration for busy B2B buyers. In-person meetings, telephone enquiries and offline research are giving way to online searches and internal buying groups.

Collaboration tools and improved communication channels speed up complex discovery and purchasing processes. Finding and sharing information online is fast and efficient. Removing scheduled calls with sales representatives, calendar coordination or time zone management simplifies the daily workload.

Sustainability

According to Amazon six out of 10 B2B buyers say improving sustainability in their purchasing is a top goal. Promoting sustainable practices online helps establish buyer confidence in their suppliers’ corporate strategies. Less in-person meetings reduce business miles, saving time and reducing emissions. End to end fulfillment strategies are now needed for cross-border B2B ecommerce logistics. As with online retail sales, buyers now expectat multiple transport and delivery options to help reduce their carbon footprint.

The future of business procurement

Businesses potentially make hundreds of critical purchases each year. The transactions are often high value and complex with detailed technical specifications. Sales representatives, phone calls, emails, and Excel spreadsheets remain part of the process. However, business system (ERP) integration and automation deliver improved efficiency, cost savings and improved customer experiences throughout the buying cycle.

Online self-service with options for in-person enquiries when needed is becoming the preferred approach. B2B ecommerce is growing rapidly with predicted sales expected to reach US$33.3trillion by 2030.

A study by McKinsey confirms four out of 10 business buyers will spend US$50,000 or more on B2B ecommerce channels. Over a third will spend more than US$500,000. B2B sellers must keep pace with the demand for efficient and effective high value online sales. Failing to move on from complex and slow manual procurement processes will affect competitiveness and profitability.

Supply chain disruptions during the pandemic and political and economic uncertainty are driving changes in procurement strategies. Artificial intelligence (AI) assisted systems can now help manage the risks associated with just-in-time procurement. Inventory management systems can monitor stock levels in a customer’s warehouse to forecast their requirements and deliver replacements. Marketplace data on logistics and supplier availability can improve planning and pre-empt delivery delays.

A future proofed B2B ecommerce solution

B2B ecommerce is not just about adopting technology; it’s about redefining business practices, enhancing customer experiences, and democratizing purchasing.

Many of Cloudfy’s B2B clients have large product portfolios, detailed pricing structures and complex distribution processes. Their major challenges include flexible pricing, accurate product descriptions and integration with business systems.

Cloudfy is a purpose designed alternative to custom-built B2B ecommerce sites that use a variety of technologies, languages and platforms. Our one-stop service includes a powerful ecommerce platform, customer and sales rep apps, hosting, support and security. Tailored to the complex requirements of B2B sales, it meets all the expectations of the new generation of buyers.

Efficiency, around the clock customer self-service and easy payments are priorities for millennial and GenZ customers. Cloudfy’s software as a service (SaaS) B2B ecommerce platform includes tools like Punch Out and electronic data interchange (EDI). Order processing is fast and easy using  features such as unique customer logins for around-the-clock online access.

As new business leaders embrace digital transformation we’ll see innovative solutions, new niche marketplaces, and improved connectivity and efficiency. Adapting your marketing and sales strategies to meet millennial and GenZ expectations will help you outperform your competition. Costs go down when you take advantage of streamlined and automated processes to handle orders in moments.

Book a free Cloudfy demonstration to discover B2B ecommerce designed for the needs of millennials and GenZ.

Frequently Asked Questions

How are millennial and GenZ buying habits influencing B2B procurement?

Millennials and GenZs, who make up the majority of B2B buyers, expect fast and engaging online buying experiences. They prefer self-guided digital channels and prioritize suppliers' B2B ecommerce websites, marketplaces, and IoT-enabled products. They also rely on third-party resources for information, making it essential for B2B companies to provide extensive and engaging content.

Why is understanding the whole customer journey important for B2B businesses dealing with younger buyers?

Nine out of 10 younger buyers are more likely to express and share their dissatisfaction with poor purchasing experiences. Therefore, understanding the entire customer journey from the buyer's perspective is key to ensuring customer satisfaction in this age of transparency and online communication.

How is time management changing in B2B procurement with the influence of millennials and GenZs?

Younger B2B buyers prioritize time management, shifting from in-person meetings, telephone inquiries, and offline research to online searches and internal buying groups. Collaboration tools and improved communication channels streamline the purchasing process, saving time and simplifying daily workloads.

What role does sustainability play in B2B procurement, especially for younger buyers?

Sustainability is a top goal for six out of 10 B2B buyers. Promoting sustainable practices online not only aligns with these buyers' values but also helps establish confidence in suppliers' corporate strategies. This shift can lead to fewer in-person meetings, reduced business miles, and more eco-friendly delivery options.

What is the future of business procurement, and how is B2B ecommerce evolving?

The future of business procurement is increasingly focused on online self-service with options for in-person inquiries when needed. B2B ecommerce is growing rapidly, with predicted sales expected to reach US$33.3 trillion by 2030. Companies must adapt to efficient and high-value online sales to remain competitive and profitable in this evolving landscape.

How is technology, such as artificial intelligence, impacting procurement strategies in the B2B sector?

Technology like artificial intelligence is helping manage risks associated with just-in-time procurement. Inventory management systems use AI to monitor stock levels in a customer's warehouse and forecast their requirements. Additionally, marketplace data on logistics and supplier availability can enhance planning and prevent delivery delays.

How can businesses adapt to meet the demands of millennials and GenZs in B2B procurement?

To meet the demands of younger buyers, businesses need to prioritize online presence, provide easily discoverable products, and engage in more extensive content sharing. They should also focus on sustainability, efficient online sales, and streamlined communication to cater to the preferences of millennial and GenZ buyers.

The post Generational Shifts in Business Procurement: Navigating the Impact of Millennial and GenZ Buying Habits appeared first on Cloudfy B2B Ecommerce Software.

B2B Ecommerce in Switzerland: The Swiss Advantage

Cloudfy Expert — Wed, 08 Nov 2023 12:30:39 +0000

Switzerland, a nation renowned for its picturesque landscapes, precision watches, and delectable chocolates, is also making waves in the world of B2B ecommerce. As the digital age continues to reshape the business landscape, Switzerland has seamlessly transitioned into the region of online commerce, offering a host of unique opportunities and challenges for B2B ecommerce businesses.

B2B ecommerce in Switzerland is a growing market, with a projected value of USD 14.51 billion in 2023. This growth is being driven by a number of factors, including the increasing adoption of digital technologies by Swiss businesses, the growing popularity of online marketplaces, and the convenience and efficiency of ecommerce. Cloudfy is a cloud-based B2B ecommerce platform that has been recognized for its capabilities in serving the B2B ecommerce needs of various businesses.

The Swiss Landscape for B2B Ecommerce

Switzerland boasts a thriving B2B ecommerce ecosystem that is bolstered by several key factors:

High Internet Penetration

According to the latest Statista data, the internet penetration rate in Switzerland is estimated to reach 96.55% in 2028. This means that nearly all Swiss citizens will have access to the internet, making it a vast and tech-savvy customer base for B2B ecommerce.

Strong Economy

Switzerland’s robust economy and reputation for precision and quality extend to its ecommerce sector. It’s a market that appreciates excellence and is willing to pay for it.

Favorable Regulatory Environment

Switzerland is known for its business-friendly environment and political stability. This provides a secure backdrop for B2B ecommerce operations, including secure online transactions.

Multilingual and Multicultural Environment

Switzerland’s linguistic diversity (with four national languages – German, French, Italian, and Romansh) and multiculturalism create unique challenges and opportunities for businesses seeking to operate in this market.

Logistics and Connectivity

Switzerland’s central location in Europe and excellent infrastructure make it a strategic hub for distribution, facilitating efficient supply chain management and timely deliveries.

High Demand for Precision and Quality

Swiss businesses prioritize precision, quality, and reliability in their operations. This extends to their supplier relationships, providing opportunities for B2B ecommerce players who can meet these standards.

Challenges in Swiss B2B Ecommerce

While Switzerland offers a plethora of opportunities for B2B ecommerce businesses, there are also notable challenges:

High Cost of Living

Switzerland is known for its high cost of living and doing business. This can result in higher operational costs, including labor and infrastructure expenses.

Competition

As more businesses recognize the potential of the Swiss B2B ecommerce market, competition is intensifying. You must stand out through innovative solutions and excellent customer service.

Data Privacy

Swiss consumers are particularly sensitive about data privacy. Adhering to strict data protection laws is crucial, and mishandling customer data can lead to reputational damage and legal consequences.

Cultural Nuances

Switzerland’s diverse culture and languages mean that understanding and respecting cultural nuances is essential for success. Missteps in this area can alienate potential customers.

Supply Chain Management

Switzerland’s geographic location means that efficient supply chain management is critical. Delays in logistics or supply chain disruptions can harm your reputation.

Leveraging Swiss-Based Strategies in B2B Ecommerce

In Swiss B2B ecommerce, it’s crucial to use different languages and focus on local marketing. Let us discuss the key strategies for success in Switzerland’s diverse market and staying within the country’s strict rules.

Multilingual Capabilities

Localized Marketing

Switzerland’s multilingual environment is a double-edged sword. It presents a challenge in terms of catering to diverse linguistic audiences, but it’s also a unique opportunity to stand out by offering content in multiple languages. Cloudfy embraces the nation’s linguistic diversity and can help your B2B ecommerce site connect with a broader customer base.

Swiss consumers, much like their counterparts worldwide, appreciate personalized experiences. Cloudfy can enable you to create tailored content, offers, and promotions for specific regions in Switzerland. Whether you’re targeting the German-speaking region of Zurich or the French-speaking area of Geneva, localization can make your B2B ecommerce site more appealing and relevant.

Customized Inventory and Product Offerings

Switzerland’s diverse business landscape means that the demand for products and services can vary significantly from one region to another. Leveraging Cloudfy’s B2B ecommerce platform, you can optimize your inventory and product offerings to align with the specific needs and preferences of each region. This ensures you’re not overstocked with items that have limited demand in certain areas.

Timely Deliveries and Efficient Logistics

Switzerland’s central location makes it a logistical paradise. Embrace location-based strategies to ensure that your distribution centers and delivery routes are optimized for quick and efficient deliveries. Swiss businesses value punctuality and reliability, and meeting these expectations can set you apart.

Compliance and Regulation

Switzerland’s regulations, especially in sectors like finance and healthcare, can be quite strict. A location-based approach is vital for ensuring that your B2B ecommerce operation complies with Swiss laws and regulations. This includes data protection, tax laws, and industry-specific regulations.

Switzerland’s landscape for B2B ecommerce is as diverse as its topography. Businesses that leverage B2B ecommerce strategies to address the unique challenges and opportunities this market presents can carve out a niche and thrive. From multilingual capabilities to localized marketing and efficient logistics, a tailored approach to Swiss B2B ecommerce can unlock the door to success in this prosperous and picturesque country. Whether you’re a newcomer to the Swiss market or looking to expand your existing operations, embracing Cloudfy’s cloud-based B2B ecommerce platform is best for you. It offers features and capabilities that align well with the unique demands of the Swiss market. Its focus on scalability, localization, compliance, security, and customer support can make it a strong choice for B2B ecommerce businesses in Switzerland. However, it’s essential to assess the platform’s latest offerings, consider your specific business requirements to determine how well it aligns with your needs in the rapidly evolving field of B2B ecommerce.

Case study: Movora

Switzerland-based veterinary medical device manufacturer, Movora, faced the challenge of streamlining their complex purchase order process. They needed a user-friendly B2B ecommerce solution that allowed their veterinary clients to efficiently filter and order joint replacement parts and accessories. Cloudfy provided a multi-variant system with advanced search and related product features, automating the ordering process and enabling online tracking for the medical devices. Integration with Microsoft Dynamics Business Central ERP improved invoice management, and Cloudfy’s user-friendly interface streamlined reorders. The solution significantly enhanced efficiency for Movora’s B2B distribution business.

Does your B2B ecommerce need a more efficient purchase ordering process or a better ecommerce platform? If so, contact us now to request your free Cloudfy demo.

Frequently Asked Questions

What are the key factors driving the growth of B2B ecommerce in Switzerland?

The growth of B2B ecommerce in Switzerland is driven by factors such as increasing adoption of digital technologies, the popularity of online marketplaces, and the convenience and efficiency of ecommerce.

What are the major challenges in Swiss B2B ecommerce?

The major challenges in Swiss B2B ecommerce include the high cost of living, intense competition, data privacy concerns, cultural nuances, and the need for efficient supply chain management.

How can I stand out in the competitive Swiss B2B ecommerce market?

To stand out in the competitive Swiss B2B ecommerce market, you should consider offering multilingual content, using location-based marketing, customizing your inventory, ensuring timely deliveries, and complying with Swiss regulations.

Can you provide an example of a B2B ecommerce success story in Switzerland?

Movora, a Switzerland-based veterinary medical device manufacturer, streamlined their purchase order process using a user-friendly B2B ecommerce solution. This case study highlights how Cloudfy improved their efficiency and integration with Microsoft Dynamics Business Central ERP.

How can I request a Cloudfy demo for my B2B ecommerce needs?

You can request a free Cloudfy demo for your B2B ecommerce needs by contacting them directly. Their solution offers features and capabilities that align well with the unique demands of the Swiss market.

The post B2B Ecommerce in Switzerland: The Swiss Advantage appeared first on Cloudfy B2B Ecommerce Software.

B2B Ecommerce for FMCG: The Unseen Benefits of an EDI Managed Service

Cloudfy Expert — Thu, 02 Nov 2023 12:28:48 +0000

Electronic data interchange (EDI) digitizes and simplifies business document transfers. That’s why over seven out of 10 business to business (B2B) digital transactions use EDI to maintain supply chain visibility. This is especially relevant for complex operations in the fast moving consumer goods (FMCG) sector.

An EDI Managed Service provides all the experience, skills and infrastructure you need to deliver effective EDI. You won’t have to invest in the detailed processes, hardware, software and maintenance needed for an in-house solution. Combined with your B2B ecommerce platform you’ll streamline and simplify your business operations, save money and improve customer satisfaction.

As an FMCG supplier you must coordinate detailed requirements with busy store managers and ordering clerks. Your customers want fast and easy purchasing at convenient times.

Cloudfy’s simple ordering solution is ideal for meeting their expectations and managing the tight margins typical in your sector. Our purpose-designed B2B ecommerce software makes it easy for clients and sales teams to place and fulfill high-frequency, high-volume orders.

With Cloudfy’s integrated ordering feature you don’t need customization or a plug-in for full EDI integration. You’ll have direct AS2 ordering for your EDI-enabled customers. You can securely transfer sensitive documents in an encrypted environment with digital certificates

Where EDI comes from?

In the 1960s EDI allowed cargo tracking via radio, teletype, and telephone. Businesses quickly realized its potential to transmit critical documents securely. EDI has been replacing complex, paper-based processes like exchanging purchase orders and invoices ever since.

EDI improves communication and processes between businesses in several ways.

Full transparency form end to end of the ordering process improves relationships and supports informed decisions.
Improved accuracy through reduced manual data entry avoids costly misunderstandings and delays.
Automated communication in real time delivers faster processes and better outcomes.

Where EDI is going?

To enable cross-border business-to-government procurement a Pan European Public Procurement Online (Peppol) standard was launched in 2019. Peppol is becoming widely used for cross-sector B2B ecommerce transactions around the world. Other standards bodies also continue to evolve B2B ecommerce data specifications such as ANSI X12, UN/EDIFACT and UBL XML.

Increasing standardization of electronic data simplifies international tax compliance. It also helps to meet increasing demands for retaining invoice data and quality assurance for data validation and integrity.

Combining EDI with application programming interface (API) capabilities supports flexible B2B ecommerce integration internally and with partners throughout the supply chain. Further into the future you might see convergence with the Internet of Things, the blockchain framework and artificial intelligence.

Benefits of an EDI Managed Service

Lacking resources to scale and effectively maintain EDI is one of the largest obstacles to sales growth for expanding FMCG businesses. Typically, each customer has their own distinct EDI requirements, from the EDI standards they use to the data formats they prefer. Responding to changing customer requirements leads to constant refinements that create bottlenecks in the EDI process.

An EDI Managed Service can streamline customer onboarding and simplify implementation. Management and maintenance of your EDI system, including trading partner management and data integration is handled for you.

You’ll minimize your investment in hardware, software and communications infrastructure. With experts monitoring your EDI activities there’s no need to worry about business disruption if an issue arises.

Because EDI connectivity is the core business of your EDI Managed Service provider you won’t have to worry about availability and can rely on industry-leading performance. With management and updates included you will know your monthly costs in advance and benefit from around the clock support. You can then refocus your teams to provide improved customer service as your business grows.

EDI in the FMCG sector

Timing is critical for FMCG businesses. Any delays in digital transactions or communications concerning perishable goods affect shelf availability and cost money. Order processing and communication must be fast and reliable. Failure to deliver agreed service levels can lead to lost contracts. Robust EDI helps manufacturers, distributors and wholesalers meet customer deadlines.

To maintain control of storage and fulfillment, SKUs, packaging, containers and pallets an efficient warehouse management system (WMS) is key.

EDI and WMS integration provides seamless communication between your warehouse and external suppliers, carriers, and customers. You can automate and streamline the flow of information and goods, reduce errors, and improve efficiency throughout your supply chain. Data exchange between your warehouse operations and logistics providers is streamlined and you’ll also reduce costs and improve customer satisfaction.

EDI and ERP integration

As your business wins new contracts, it’s essential to scale your operation seamlessly. Manually transferring order data between business systems leads to errors and delays.

EDI integration with your enterprise (ERP) systems allows you to manage customer relationships seamlessly. Integrations with leading ERP platforms like SAP Business One, NetSuite and Microsoft Dynamics are all available out-of-the-box with Cloudfy.

The order to invoice cycle is faster and cashflow improves when you consolidate your business operations in a single solution. You’ll achieve multiple benefits through the additional monitoring and control of key operational activities.

Connection errors. Occasionally internet connections and email systems can fail so automatic error alerts minimize problems.
New orders. Your accounts team won’t have to remain logged into the EDI system to receive notifications for new orders. The right person can immediately respond to ensure fast processing and invoicing.
Message monitoring. Monitoring EDI messages is easy so your orders are handled promptly and accurately.
Collaboration. Multiple departments can work together using your ERP system’s information and management tools.

FMCG operations made simple

Combining WMS and ERP integration with EDI provides end-to-end automation and improved visibility both internally and externally. Cloudfy supports real-time synchronization between your key business systems and EDI processes. You’ll have accurate and up-to-date information about all your digital transactions.

Book a free Cloudfy demonstration to find out how to improve your FMCG operations with an EDI Managed Service.

Frequently Asked Questions

What is EDI, and how does it benefit the FMCG sector?

Electronic Data Interchange (EDI) digitizes and simplifies business document transfers. Over 70% of B2B digital transactions in the FMCG sector use EDI to enhance supply chain visibility, improve accuracy, and streamline communication.

How has EDI evolved over the years?

EDI has come a long way since its inception in the 1960s when it was used for cargo tracking. Today, it's replacing complex paper-based processes and evolving to meet international tax compliance and data quality assurance demands.

What is the role of EDI in FMCG order processing and communication?

FMCG businesses rely on fast and reliable order processing and communication. Robust EDI helps manufacturers, distributors, and wholesalers meet customer deadlines, ensuring shelf availability and cost savings.

How does EDI integration with WMS improve supply chain efficiency?

Integration of EDI with a Warehouse Management System (WMS) streamlines communication between warehouses, suppliers, carriers, and customers. This automation reduces errors, improves efficiency, and enhances customer satisfaction.

What benefits does EDI and ERP integration offer for FMCG operations?

Integrating EDI with Enterprise Resource Planning (ERP) systems allows seamless management of customer relationships. It offers benefits like automatic error alerts, faster order processing, and improved collaboration between departments.

The post B2B Ecommerce for FMCG: The Unseen Benefits of an EDI Managed Service appeared first on Cloudfy B2B Ecommerce Software.

Cloudfy and Brandwidth: A Dynamic Partnership

Cloudfy Expert — Fri, 27 Oct 2023 12:06:42 +0000

We’re thrilled to announce that Cloudfy is now a part of Brandwidth, a dynamic member of the Next15 group. With a global presence and a rich history of digital projects for major brands, Brandwidth is an organization known for its network of specialized teams, each focusing on specific domains of expertise. This collective entrepreneurial spirit emphasizes data, collaboration, and methodology, making it a perfect fit for Cloudfy. Cloudfy’s mission is to empower B2B ecommerce with Best-in-class solutions.

Jason Jones, Brandwidth Group founder and CEO, said, “We saw an instant fit with Rob and the WCL and Cloudfy teams, and we’re fortunate to be welcoming their remarkable talents to our group as we broaden and deepen our commerce offering.”

Rob Williams, WCL and Cloudfy CEO, said, “We’re incredibly excited to join the Brandwidth Group. Their goals and ethos are perfectly aligned with ours and the Brandwidth Group model enables us to retain the independent focus that’s helped us create the award-winning commerce experiences that we’re known for.”

The group has also acquired the companies Williams Commerce and Un.titled as part of this exciting collaboration. This collaboration promises to supercharge martech and create incredible digital experiences that deliver growth and enduring competitive advantage for brands.

The post Cloudfy and Brandwidth: A Dynamic Partnership appeared first on Cloudfy B2B Ecommerce Software.

Quote-to-Cash vs. CPQ: Streamlining Sales Processes

Cloudfy Inc — Fri, 20 Oct 2023 15:45:43 +0000

In the world of sales and revenue generation, efficiency and accuracy are crucial. Two key concepts that play a pivotal role in achieving these goals are Quote-to-Cash (QTC) and Configure, Price, Quote (CPQ) systems. These systems are designed to streamline various stages of the sales process, from creating quotes to finalizing cash transactions. In this blog, we’ll explore the differences between Quote-to-Cash and CPQ, their distinct functionalities, and the advantages they offer to businesses. Additionally, we’ll provide a comparison table to help you make an informed decision about which system suits your organization’s needs.

What is Quote-to-Cash (QTC)?

Quote-to-Cash is a holistic approach to managing the entire sales cycle within an organization. It encompasses several key processes, including quoting, contracting, order fulfillment, billing, and revenue recognition. Essentially, QTC connects the dots from the initial customer inquiry to the moment cash is received, ensuring a seamless flow of information and actions.

Key Components of Quote-to-Cash

Quoting

The first step in the QTC process involves creating accurate and customized quotes for customers. This stage often integrates with CPQ solutions to provide real-time pricing and product configuration.

Contracting

After a customer accepts a quote, the contracting phase begins. This involves generating legally binding contracts and ensuring compliance with regulations and policies.

Order Fulfillment

Once a contract is in place, the order fulfillment process commences. This includes managing inventory, shipping, and delivering products or services to customers.

Billing

The billing stage involves generating invoices based on the terms and conditions specified in the contract. This ensures that customers are charged correctly and on time.

Revenue Recognition

Proper revenue recognition is crucial for financial reporting and compliance. QTC systems automate this process, reducing the risk of errors.

What is Configure, Price, Quote (CPQ)?

CPQ, on the other hand, is a subset of Quote-to-Cash focused specifically on the creation of quotes. It empowers sales teams to configure products or services, determine accurate pricing, and generate professional quotes for customers. CPQ solutions are designed to expedite the quoting process, reduce errors, and enhance sales effectiveness.

Key Components of CPQ

Configuration

CPQ tools allow sales representatives to configure products or services according to customer specifications. This ensures that the proposed solution aligns perfectly with the customer’s needs

Pricing

Pricing can be complex, especially in industries with multiple product options and pricing tiers. CPQ systems help sales teams calculate pricing accurately, taking into account discounts, promotions, and other variables.

Quoting

Once products are configured and prices are determined, CPQ software generates professional quotes quickly and efficiently. These quotes are typically customizable to reflect the brand and style of the company.

Approval Workflow

CPQ solutions often include approval workflows, ensuring that quotes are reviewed and authorized by the appropriate individuals within the organization.

Quote-to-Cash vs. CPQ

To better understand the differences between Quote-to-Cash and CPQ, let’s break down their key distinctions in a comparison table

	Quote-to-Cash (QTC)	Configure, Price, Quote (CPQ)
Scope	Encompasses the entire sales cycle, including quoting, contracting, order fulfillment, billing, and revenue recognition.	Focuses solely on the quoting process, from product configuration to generating quotes.
Key Functions	Quoting, Contracting, Order Fulfillment, Billing, Revenue Recognition	Configuration, Pricing, Quoting, Approval Workflow
Complexity	Addresses complex end-to-end processes, suitable for businesses with a wide range of products/services and diverse customer contracts.	Concentrates on simplifying the quoting process, making it ideal for businesses with complex product configurations and pricing structures.
Integration	Integrates with various other systems and tools, such as CRM, ERP, and financial systems, to ensure seamless information flow throughout the organization.	Typically integrates with CRM systems to access customer data and align quotes with customer profiles.
Industry Suitability	Versatile and adaptable for various industries, especially those with complex sales processes.	Particularly beneficial for industries with customizable products/services, where quoting accuracy is critical.
Compliance and Control	Ensures compliance with legal and financial regulations throughout the entire sales cycle. Offers strong control over contracts and billing.	Focuses on ensuring pricing accuracy and adherence to pricing policies, often with configurable approval workflows.
Reporting and Analytics	Provides comprehensive insights into the entire sales process, including revenue, profitability, and contract compliance.	Primarily offers analytics related to quoting efficiency, pricing optimization, and sales performance.
Benefits	Improves efficiency and accuracy across the entire sales cycle, enhances revenue recognition, and ensures compliance.	Speeds up the quoting process, reduces errors, boosts sales effectiveness, and maintains pricing consistency.

Making the Right Choice

Choosing between Quote-to-Cash and CPQ depends on your organization’s specific needs and objectives. Here are some key considerations to help you make the right decision:

Scope of Operations

If your business involves complex sales cycles that extend beyond quoting, such as order fulfillment, contract management, and billing, Quote-to-Cash is the more comprehensive choice.

Product/Service Complexity

For businesses offering highly customizable products or services with intricate pricing structures, CPQ can significantly streamline the quoting process.

Integration Requirements

Evaluate your existing systems and the need for integration. Quote-to-Cash systems often require integration with a wide range of enterprise applications, whereas CPQ is more closely aligned with CRM systems.

Compliance and Control

Consider the level of compliance and control required in your industry. Quote-to-Cash provides end-to-end compliance management, while CPQ focuses on pricing consistency and approval workflows.

Reporting and Analytics

Think about your reporting and analytics needs. Quote-to-Cash offers insights into the entire sales cycle, while CPQ primarily focuses on quoting efficiency and sales performance.

Thus, both Quote-to-Cash and CPQ systems serve critical roles in enhancing sales processes. Quote-to-Cash offers a holistic approach to managing the entire sales cycle, while CPQ specializes in optimizing the quoting process. Your choice should align with your organization’s specific requirements and goals, as well as the complexity of your products or services. By understanding the differences outlined in this blog and assessing your business needs, you can make an informed decision to streamline your sales operations effectively.

Cloud-based CPQ and QTC solutions like Cloudfy offer numerous advantages for businesses seeking to streamline their sales processes. Cloudfy stands out as an excellent choice due to its flexibility, scalability, and accessibility. With Cloudfy, you can easily adapt your CPQ and QTC systems to your unique business needs, whether you operate in a single industry or across various sectors. It allows for seamless integration with other cloud-based applications, ensuring smooth information flow throughout your organization. Moreover, Cloudfy’s user-friendly interface empowers your sales teams to configure, price, and quote products or services efficiently, ultimately enhancing sales effectiveness. By choosing Cloudfy for CPQ and QTC, you can harness the power of the cloud to optimize your sales processes and drive revenue growth.

Frequently Asked Questions

What is Quote-to-Cash (QTC) in sales?

Quote-to-Cash is a comprehensive approach that manages the entire sales cycle, including quoting, contracting, order fulfillment, billing, and revenue recognition, ensuring a seamless flow of information and actions.

What are the key components of Quote-to-Cash (QTC)?

The key components of Quote-to-Cash include quoting, contracting, order fulfillment, billing, and revenue recognition. These processes cover everything from generating quotes to receiving cash.

What is Configure, Price, Quote (CPQ)?

Configure, Price, Quote (CPQ) is a subset of Quote-to-Cash focused specifically on the quoting process. It helps sales teams configure products, determine accurate pricing, and generate professional quotes quickly and efficiently.

What are the primary functions of CPQ?

The primary functions of CPQ include product configuration, pricing calculation, quote generation, and approval workflow to streamline the quoting process and enhance sales effectiveness.

How do I choose between Quote-to-Cash (QTC) and CPQ for my business?

The choice between QTC and CPQ depends on your organization's needs. Consider factors like the scope of operations, product/service complexity, integration requirements, compliance, and reporting needs to make an informed decision. Our blog provides a detailed comparison to help you choose wisely.

The post Quote-to-Cash vs. CPQ: Streamlining Sales Processes appeared first on Cloudfy B2B Ecommerce Software.

B2B Ecommerce Platform Archives - Cloudfy B2B Ecommerce Software

Managing B2B ecommerce security risks at peak times

Defending against security breaches

Security risks

Ransomware – a major B2B ecommerce threat

Security risks in B2B ecommerce

Other risks

Remote desktops

Brute force attacks

Email engineering

Software updates

System sharing

Why Food & Beverage Companies Need a Purpose Designed B2B Ecommerce Platform

Table of Contents

B2B ecommerce features purpose designed for the F&B sector

SEO

Easy user interface

Back office support

Product information

Bespoke promotions

Real time reporting

Inventory visibility

Delivery options

EDI and PunchOut

D2C sales

Enhance Customer Experience: The Benefits of a Modern and User-Friendly B2B Ecommerce Platform to Attract and Retain Customers

Table of Contents

Understand customer needs

Be customer-centric

Provide dynamic desktops and marvellous mobile experiences

Streamline self-service

Make purchasing easy

Automate processes

Educate and advise your customers

Meet after sales needs

Respond quickly

Be proactive

Take accessibility seriously

Listen to your customers

Proactive Measures for Managing a B2B Ecommerce Platform During Peak Times

Table of Contents

Deliver high quality customer experiences

Prioritize logistics and shipping

Ensure security

Implement business system integration

Simplify product returns

Unlocking the Power of Global Expansion: A 7-Step Guide for B2B Ecommerce Companies

Table of Contents

Your global expansion strategy

Understanding complex international markets

Seven Steps to Global Expansion

Step One: Embrace localization

Step Two: Refine your sales and marketing

Step Three: Understand local pricing

Step Four: Provide localized payment options

Step Five. Commit to transparency

Step Six: Control compliance

Step Seven: Streamline fulfillment

Global brand success

Frequently Asked Questions

Generational Shifts in Business Procurement: Navigating the Impact of Millennial and GenZ Buying Habits

A new generation of business buyers

Buyer expectations

Third party product data

Critical evaluation

Time management

Sustainability

The future of business procurement

A future proofed B2B ecommerce solution

Frequently Asked Questions

B2B Ecommerce in Switzerland: The Swiss Advantage

Table of Contents

The Swiss Landscape for B2B Ecommerce

High Internet Penetration

Strong Economy

Favorable Regulatory Environment

Multilingual and Multicultural Environment

Logistics and Connectivity

High Demand for Precision and Quality

Challenges in Swiss B2B Ecommerce