Business to Business(B2B) model facilitates online sales transactions between the two businesses. There are two concept which defines the B2B structure-
- Purchase Reason – The customers make decisions on price and profit potential and as per their business requirement.
- Purchase Price – The price may vary customer to customer because the customers who place large orders or negotiate for special services pay different prices.
B2B generally has repeated customers with big orders. This makes the purchasing process more complex. But you can easily equip the B2B site with advanced features which will streamline your B2B business workflow-
Quote System – Negotiate Product Prices
The Quote System functionality makes your customers feel as if they are shopping in a real store and have the ability to ask for a quote for required products/items available. This feature is useful for customers who want to order products in bulk.
The buyers can ask for a quote and the seller can agree and respond back with a compromising quotation proposal. This helps in making a direct interaction between the seller and the customers for price negotiation and product query related communication.
Request For Quote (RFQ) – Add Standard Biding Process
Request For Quote is a standard business process where the buyer invites multiple suppliers into a bidding process to bid on specific products or services. After receiving the RFQs, each seller sends its own quote for the product to the buyer. After approving the quote, the buyer can then purchase the product at a competitive price.
RFQ works quite similar to Quote System. But RFQ has one major advantage which lets customers ask a quote for a product which is even not listed on the B2B Store.
Quick Order – Reduce Number of Clicks For Placing Order
Quick Order allows the B2B buyers to quickly purchase different products in bulk quantity without visiting every product page or catalog page. The wholesale buyers and the normal customers both can effectively use the Quick Order feature if they want to make a bulk purchase.
Quick Order functionality will reduce the number of clicks and reduces the purchase time for the buyers. From a simple quick order form, a buyer can search and add a product using its SKU or product name.
Sales Representatives – Create Sales Professionals For Your B2B
Sales Reps can manage the quotation request in a more effective and orderly manner. The sales reps are best suited for a market where there is more B2B approach. Because in B2B, buyers make bulk purchases for which they negotiate on price through quotation requests.
So, on the behalf of admin, these sales reps will manage the quotation requests of the customers.
Purchase Order – Easy Order Management
Purchase Order refers to sourcing of goods & services from different suppliers. PO is a legal document sent from a purchaser to a vendor that authorizes a purchase.
The PO allows you to manage suppliers, quotations, purchase orders, and incoming shipments. You can add suppliers to a product, specifying each supplier’s price & order quantity. A draft purchase order is created when any product goes out of stock. After receiving the incoming shipments and the inventories becomes updated.
PO helps in order managing the orders and enable purchasers to clarify their needs to vendors.
Wholesale – Effective Sourcing Of Goods & Services
If you are an E-commerce store owner then the most important part is to manage the inventory. For effective management of inventory, the seller needs to quote for the wholesaler products at a negotiable price.
The wholesaler can register themselves on the wholesale marketplace and can add their products with quote option. And the seller can quote the wholesaler products along with a message intended for the wholesaler.
B2B Customer Approval – Restricted Access To B2B Account
Sometimes un-necessary customer registration leads to fraud account creation. To control this, the admin should have a feature to control and manage the customer registration and log in.
The B2B Customer Approval feature restricts the customer to register and create an account on the store. This will –
- Put a check on fraud account creation.
- Deny log in access of any customer.
- Suspend any customer account whenever required.
B2B Private Shop – Segment Customer Groups & Restrict Product Visibility
B2B generally deals in bulk orders vary from buyer to buyer for which the admin needs to segment customers into various groups.
B2B Private Shop feature let the admin group the B2B customers and enable them view products that are only available to assigned customer groups. This way the admin can create a customer-specific product catalog.
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