Replatforming Archives - Cloudfy B2B Ecommerce Software https://www.cloudfy.com/tag/replatforming/ B2B Solution to Simplify, Save & Scale Thu, 05 Sep 2024 10:01:21 +0000 en-US hourly 1 https://www.cloudfy.com/app/uploads/favicon.jpg Replatforming Archives - Cloudfy B2B Ecommerce Software https://www.cloudfy.com/tag/replatforming/ 32 32 The Biggest Challenges for B2B Ecommerce Businesses  https://www.cloudfy.com/the-biggest-challenges-for-b2b-ecommerce-businesses/ Thu, 13 Apr 2023 05:14:28 +0000 https://www.cloudfy.com/?p=43510 Business to business (B2B) buying habits are changing and headless B2B ecommerce will help you keep pace. There are so many new ways to access … Read More

The post The Biggest Challenges for B2B Ecommerce Businesses  appeared first on Cloudfy B2B Ecommerce Software.

]]>

Having a business is Easy—never said anybody. But, B2B business owners typically deal with difficulties that aren’t as common for other shops. To that end, B2B ecommerce is rapidly expanding. Also, the rivalry is increasing as more B2B business owners discover their online specialty. 

It’s a good idea to be aware of some of the difficulties you can encounter if you’re ready to dive into B2B ecommerce so you can better understand how to overcome them. So, we’re outlining some potential problems and offering advice on how to dominate the competition. 

Cloudfy is an ecommerce platform designed specifically for B2B businesses, which can help overcome these challenges. Cloudfy offers a range of features that make it easy for B2B ecommerce businesses to manage their online store, including a mobile-responsive design, advanced search and filtering options, easy integration with ERP systems, and flexible pricing and promotions. 

Challenges Faced by B2B Ecommerce

Several challenges come across while setting up a B2B ecommerce or switching from a physical to an online store. A befitting platform must be able to combat these challenges while adding worth to business as whole along with streamlining operations and processes. Some of the key challenges are:

 Reducing costs 

Reducing Cost

Reducing costs is a significant challenge in B2B ecommerce because B2B businesses typically operate on thin profit margins due to the competitive nature of the industry. Additionally, B2B ecommerce businesses often have to deal with high transaction volumes and a large number of SKUs, which can make it difficult to manage costs efficiently. 

There are several areas where B2B ecommerce businesses can focus on to reduce costs, including: 

  • Supply chain optimization – By investing in advanced inventory management systems or warehouse automation technologies 
  • Streamlining order processing – By integrating their ecommerce platform with other systems such as ERP or CRM systems to automate processes and reduce manual labor. 
  • Reducing product returns– By investing in customer service and support to reduce product returns, which can be costly and time-consuming. 

Retaining Clients

Retaining clients is a challenge in B2B ecommerce because customer loyalty can be more challenging to achieve in a B2B environment than in a B2C environment. Unlike B2C customers, B2B customers are often more focused on finding the best price and value for their business, which can make it difficult to build long-term relationships. 

Retaining Clients

In addition, B2B ecommerce businesses may face competition from other companies offering similar products or services, which can make it challenging to retain clients. Furthermore, B2B customers often have complex buying processes, with multiple decision-makers involved in the purchasing process, which can make it challenging to build relationships and establish trust. 

To overcome these challenges, B2B ecommerce businesses need to focus on  

  • Providing excellent customer service,  
  • Personalized experiences, and  
  • Value-added services that go beyond the product or                                                                          service itself.  

They need to understand their customers’ needs and pain points and provide solutions that meet those needs. 

Growing sales 

With increasing competition, B2B ecommerce businesses must find ways to differentiate themselves and grow their sales. Due to a number of issues, increasing sales is one of the hardest problems for B2B ecommerce businesses such as long sales cycle, extremely competitive market, restricted marketing channels.  

Growing Sales

B2B ecommerce companies need to  

  • Have plans in place for nurturing leads and establishing long-term connections.  
  • Spend in educating their sales staff and giving them the resources, they need. 
  • Must set themselves out from the competition by providing distinctive value propositions and providing top-notch customer experiences. 

B2B ecommerce companies must have a firm grasp of their target market, invest in cultivating connections with clients, deliver excellent customer experiences, and constantly innovate to stay one step ahead of the competition if they are to overcome these obstacles and increase revenues.  

Eliminating errors 

For B2B ecommerce organisations, eliminating mistakes is one of the hardest hurdles because of several reasons including complicated order fulfilment procedure, high order volume, customized goods and inaccurate data.  

B2B ecommerce companies must : 

Eliminating Errors

  • Develop automated methods and procedures that lessen the possibility of human mistake in order to overcome these obstacles and eradicate errors.  
  • The employment of technology like barcode scanning, order management software, and warehouse management systems is one example of this.  
  • Businesses engaged in B2B e-commerce should also put quality control procedures in place to make sure that goods are made and delivered in accordance with specifications.  

B2B ecommerce companies also need to routinely verify their data to make sure it is correct and current. Lastly, B2B ecommerce companies should assist and train their workers to ensure that they have the skills and resources necessary to efficiently manage orders and reduce mistakes. 

Simplifying I.T. 

B2B ecommerce companies must maintain a complicated technological infrastructure, which can cause problems with data administration, order processing, and inventory management. For B2B ecommerce companies, streamlining IT is one of the major issues because of several reasons such as Integration Complexity, Customization, compliance and safety, updation and maintenance of IT systems. 

Simplifying I.T. 

B2B ecommerce companies: 

  • Need to install IT solutions that are simple to integrate, configure, and manage in order to streamline IT and overcome these difficulties.  
  • Making investments in cloud-based solutions that can be quickly adapted to match the particular demands of the company while also being built to function together.  
  • Use IT security best practices, such as multi-factor authentication and encryption.  

In order to avoid disruptions to company operations, B2B ecommerce companies should also work closely with their IT providers to make sure that their systems are routinely maintained and improved. In order to guarantee that their team has the skills and resources they need, B2B ecommerce companies should train and assist them. 

 Scaling Fast 

In order to accommodate growth and satisfy client demands, B2B ecommerce companies must be able to scale quickly. Due to a number of causes, scaling quickly is one of the major problems for B2B ecommerce businesses that includes Operational complexity, Restricted Resources, competition and customer anticipation regarding incaresed levels of service.  

Scaling Fast

B2B ecommerce companies: 

  • Must have a defined growth plan in place in order to overcome these obstacles and swiftly scale up.  
  • Must make investments in scalable technological solutions, such as cloud-based platforms and automation tools.  
  • Employing and educating people should be a top priority for B2B e-commerce companies in order to efficiently manage expanding operations.  

In order to sustain customer loyalty and encourage repeat business, B2B ecommerce enterprises should concentrate on developing solid connections with their clients and providing excellent customer experiences. Lastly, B2B ecommerce companies should continuously assess their operations to pinpoint opportunities for development and enhance procedures to raise productivity and save expenses. 

Automating 

By automating time-consuming operations like order processing, invoicing, and inventory management, automation may help B2B ecommerce organizations save time and money. For certain B2B ecommerce companies, especially those that continue to rely on manual procedures, adding automation might be difficult. Businesses may encounter many difficulties while using automation, such as investment in technological solutions and personnel training, Integration Difficulty, Change management and customization. 

Automating

B2B ecommerce companies: 

  • Must have a clear plan in place to overcome these obstacles and successfully adopt automation.  
  • Choose the appropriate technological solutions, doing a comprehensive study of current processes to spot areas that may be automated. 
  • Making sure that people are taught and supported throughout the deployment process.  

Also, companies should routinely review and assess existing automation systems to find areas for enhancement and make sure they remain compatible with the company’s changing demands. 

Inventory sharing

To enhance order fulfilment and inventory management, B2B ecommerce companies may need to exchange inventory data with suppliers or clients. For B2B e-commerce companies, transferring inventory can be difficult, especially if they are a part of intricate supply chains with many stakeholders. When it comes to pooling inventory, firms may encounter a number of difficulties, including visibility, Data sharing, Integration, and Coordination. 

Inventory Sharing

B2B ecommerce companies can: 

  • Use inventory management solutions created to promote inventory sharing throughout the supply chain to get around these difficulties.  
  • To guarantee that all parties involved have access to correct and current information, this entails making investments in technological solutions that enable real-time inventory tracking and sharing.  
  • B2B ecommerce companies should also collaborate closely with their supply chain partners to make sure that the mechanisms for sharing inventory are well-coordinated and effective, and that any potential problems are quickly detected and resolved. 

Last but not least, B2B ecommerce companies should periodically assess their inventory sharing procedures to find room for improvement and make sure they are still meeting the changing demands of the company and its stakeholders. 

Replatforming

 To increase functionality, scalability, and security, B2B ecommerce companies may need to switch to a new ecommerce platform. For B2B ecommerce companies, replatforming may be a big problem, especially for those wanting to switch from outdated systems to contemporary cloud-based ecommerce platforms. Businesses may encounter several difficulties when replatforming, such as Complexity, disruption, Cost, customization and time.  

Replatforming

B2B ecommerce companies should: 

  • Treat replatforming as a strategic endeavour and create a detailed migration strategy that takes into account all of the major risks and challenges in order to overcome these obstacles.  
  • Pick the best ecommerce platform and technological solutions, as well as identifying the important players and resources required to carry out the transfer effectively.  
  • Throughout the replatforming process, B2B ecommerce companies should place a high priority on staff training and change management to make sure that employees are capable of using the new platform efficiently and adjusting to any new procedures or workflows.  

Lastly, to identify areas for improvement and make sure they can fully reap the benefits of the new platform, B2B ecommerce companies should routinely monitor and analyse their replatforming initiatives. 

REQUEST A DEMO ►

FAQs

By providing an easy-to-use, install, and manage cloud-based platform, Cloudfy streamlines IT for B2B ecommerce firms.  

Cloudfy's platform complies fully with the most stringent security and privacy regulations now in effect, including GDPR and PCI DSS, guaranteeing that the data of B2B e-commerce companies is always properly safeguarded.   

By regularly monitoring the market and taking part in pertinent events and conferences. Moreover, Cloudfy keeps regular contact with top industry analysts and experts. 

The post The Biggest Challenges for B2B Ecommerce Businesses  appeared first on Cloudfy B2B Ecommerce Software.

]]> The Changing Face of B2B Ecommerce: Insights on Market Trends, Size, and Share https://www.cloudfy.com/the-changing-face-of-b2b-ecommerce-insights-on-market-trends-size-and-share/ Wed, 05 Apr 2023 14:56:40 +0000 https://www.cloudfy.com/?p=43425 Business to business (B2B) buying habits are changing and headless B2B ecommerce will help you keep pace. There are so many new ways to access … Read More

The post The Changing Face of B2B Ecommerce: Insights on Market Trends, Size, and Share appeared first on Cloudfy B2B Ecommerce Software.

]]>

Table of Contents

Business to business (B2B) ecommerce is changing. Nearly two-thirds of B2B companies can already handle online transactions. Many say they’re now more likely to use ecommerce channels to attract new customers than in-person selling. In fact, as a revenue stream, ecommerce is already on a par with in-person sales.

In 2021, manufacturer ecommerce sales on websites, apps and B2B marketplaces increased by over 18% – more than any other channel.

You can improve B2B sales performance and customer experiences by replatforming to a software-as-a-service (SaaS) ecommerce solution like Cloudfy. You’ll have powerful B2B ecommerce functionality, a wide range of purpose-designed features, better performance and reduced maintenance requirements.

Cloudfy provides hosting, enterprise (ERP) integration and regular upgrades. Your IT and administration resources can be used more effectively to support your wider business operations.

B2B Ecommerce Trends

Faster fulfilment

Customers expect fast deliveries and one option to streamline the process is outsourcing to a third-party logistics (3PL) company. B2B companies benefit from their fulfilment expertise and can distribute inventory more widely without increasing costs.

Integrating 3PL data with your ecommerce platform can improve customer experience, speed up fulfilment and reduce administration costs. With improved order management, routing to the best location with available inventory can be automated to streamline wholesale order processing.

Online marketplaces

B2B buyers often start their purchasing research on marketplaces where sales have increased five-fold in just two years. In 2022, B2B marketplaces accounted for almost 7% of all B2B ecommerce sales.

Third-party B2B marketplaces can attract new buyers and offer opportunities to test products or access additional markets. They also provide a good overview of competitors’ activities without the need to explore their individual websites. B2B companies can also improve their product curation procedures by monitoring sales on marketplaces.

The Changing Face of B2B Ecommerce

Social commerce

Social commerce is no longer only a business-to-consumer (B2C) strategy. The global B2B social commerce market is expected to be worth over US$ 3 trillion3 2030. Almost half of B2B buyers are already looking for products and learning about available options on social media.

The key to success is finding the most relevant social media platforms for your audience. They are ideal for sharing content such as product videos and customer testimonials, for example. You can also add links to your product catalogs so customers can see and buy what you have to offer.

Sustainable credentials

Increasing environmental awareness and business corporate social responsibility (CSR) commitments are raising the profile of sustainability.

There’s evidence that customers are likely to be more loyal to eco-friendly businesses and conversion rates increase too. Whether it’s packaging, product materials, or reducing energy consumption in manufacturing, environmentally friendly credentials are becoming more important.

Personalization

Customers have valued personalized experiences for many years but there’s great potential for B2B ecommerce companies to do more. B2B buyers want their suppliers to provide more channels and more convenience. They are frustrated with inconsistent messaging and irrelevant marketing. Prioritizing collection and analysis of customer data to improve customer journeys is key.

Customer data can inform everything from your ecommerce site’s ease of use to targeting multi-channel communications. Using first-party customer data can include product recommendations according to pages viewed, effective retargeting and campaigns based on abandoned carts.

Mobile First - The Changing face of B2B Ecommerce

Mobile-first

Your site’s performance on mobile devices will affect your search engine rankings and conversion rates, so it can’t be ignored. M-commerce is expected to almost double its share of retail sales between 2020 and 2025, and it’s reasonable to follow this trend for B2B sales as well.

One feature to consider is one-click checkouts. Customers only need to provide their payment information once and can then use the one-click option for easy mobile purchases. Mobile wallets like ApplePay can also improve mobile customer experiences.

Self-service preferences

B2B buyers are increasingly happy to make their purchases online without any interaction with sales or customer service staff. Self-service means seamless transitions from online research to purchasing will become more important.

While more complex sales will still need some human interactions, the more automation you can provide the better. An effective self-service online portal will simplify and streamline the procurement process and reduce administration costs and data entry errors.

Headless commerce

Headless commerce is for businesses that want to focus on customer experience while still using the best business systems for their operational needs.

By separating your B2B ecommerce site’s presentation from your back-end processes you can rapidly innovate and deploy new customer experiences. Headless platforms provide more tools to reach your audience and make customization easier with less technical support.

Supply chain disruption

The pandemic, international conflicts, and inflation are all affecting supply chains. Recognizing these risks and introducing effective supply chain management solutions is critical.

Planning for supply chain resilience is an important trend which includes working with more local distributors and multiple supply partners. You can also encourage customers to place their orders sooner with discounts, free shipping, or special offers.

Inventory Visiblity - The Changing Face of B2B Ecommerce

Inventory visibility

Meeting customer expectations for accurate stock information requires integration of physical and digital channels. Seamless ‘phygital’ experiences require digital supply chain data like radio frequency identification (RFID).

Near real time stock level information will improve restocking efficiency allow you to make better use of warehouse space. It will also improve onward shipping processes.

Omnichannel sales

B2B customers browse and buy across multiple channels. Understanding your customers’ journeys is essential to provide the right information in the right place.

B2B buyers now regularly use 10 or more channels to interact with their suppliers, so the picture is complex. Allowing buyers to move easily between channels and to make their purchases where they prefer increases customer satisfaction and loyalty.

Replatforming

Many B2B companies only began their ecommerce journeys during the pandemic. Most have now recognised that digital transformation is essential for future success. It will soon be time to consider replatforming to reach the next level of ecommerce performance.

Only upgrading an existing system when it’s no longer fit for purpose is a strategic mistake. Having a roadmap for ecommerce growth will become a requirement to remain competitive in the B2B market. 

REQUEST A DEMO ►

The post The Changing Face of B2B Ecommerce: Insights on Market Trends, Size, and Share appeared first on Cloudfy B2B Ecommerce Software.

]]>