5 Most Useful Tips To Boost Your B2B E-Commerce Business
If you follow these 5 tips given below, then you can for sure have a B2B Ecommerce Solution that is effective, helps make money and helps take your online business to newer levels.
1. Keep It Simple. Most of the successful ecommerce portals around the world are ones which are simple. A few examples of these would be Shopify, Magento and WooCommerce. Magento offers a community version. The extended Magento enterprise platform though, is a bit complex. In case of smaller B2B transactions, one does not even have to set up one’s store. Shopping Carts can also be integrated and so can payment processing be on the website. Then there is vertical integration, which is one of the best ways to reduce costs. Another way of simplifying things is to use ecommerce website design services. A nice design helps project a site simply.
2. Multiple Payment Options: As soon as you have the ideal platform which lives up to the budget and size that you have planned, you get access to a pre-built shopping cart which has wholesale functionalities relevant to your industry. Now that the same is in place, all you need are people who start paying. Having expanded and alternative payment solutions means that you will be able to do business with companies and vendors not only through credit cards but through alternate payments methods as well.
3. Electronic Data Interchange: Think of EDI seriously. It is the process all transaction data foes through over the course of a transaction and is basically the exchange of electronic documents when business happens between businesses. This would entail purchase orders, invoices and receipts. Gone are the days when products were bought through case. Most of the purchases these days happen through electronic payments and if entire shipments are being ordered, then there are a lot of costs involved as well. As far as ecommerce solutions for small business enterprises are concerned, the presence of EDI will be a major boost.
4. Optimized Payment Processes: In most B2B cases, transaction costs are a big factor. Reason being, transaction costs are calculated primarily on the amount of data transferred and processed by payment processors during a transaction. Data as far as this is concerned includes credit/debit card information, postal information and purchase data. Transactions big in size have more data being exchanged at once in order to keep the interchange process simple. It helps to have optimized payment processes.
5. Spot Fraud. Eliminate It. If a recent report is to be believed, for every $100 gained, around $0.057 is lost to fraud. Online stores ought to have automated scripts which gather data from previous as well as ongoing transactions to create a pattern by which to score certain transactions for possible fraud and false positive risks. Thus, every new transaction comes with a score card allowing you to weigh in risks versus rewards of a transaction with greater accuracy.
Another tip, though this must be known, is an integration with the company’s ERP system. Fijian companies can get this done by their nearest Microsoft Dynamics Partner Fiji.
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