B2b Marketplace - A Business Platform Beneficial To All!

By Author: Kirthy Shetty
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Buyers and sellers get in touch and come to a common place online for further business deals, this point of contact is known as business to business marketplace. Carry out your business transactions at ease and collaborate with out any hassles. Provided online is a platform wherein lot of participants, buyers or consumers and sellers or business service providers come together as a community. Carry out various business transactions of posting a particular product, placing an order for it, comparing products and services, writing a product review and the actual selling itself.

How does a buyer get benefited from a business to business market place?
Helps access new suppliers - Eliminates any kind of geographical barriers and offers access to new suppliers to participate in the b2b marker place.

Cuts down on time factor: it's an online mode of communication and business transaction, it is carried out in a lesser time with quicker approvals and helps order your products and delivers it in time, further enabling easier online tracking.

Reduces the transaction cost as well : your transaction process being ...
... streamlined, it cuts down on transaction cost

How does it help a supplier:

Reach out to potential buyers/purchasers and a new market/niche one

Business to Business market place offers a new sales platform for suppliers to meet prospective buyers and suppliers.

Reduced order processing costs: The cost of processing a purchase order online can be reduced significantly

Inventory cost brought down drastically: It offers a grater forecasting ability and a clearer visibility thus reducing the inventory keeping costs.

Cuts down on overhead costs: with supply chain also streamlined, the overhead costs will be reduced.

Enhanced sales: A supplier can now access a wider market and hence increase his revenue.

Lower sales and support costs: with an automated sales and customer support process, one can easily reduce the sale and support cost.

Electronic procurement is the method of conducting transactions between buyers and suppliers over the Internet. An eProcurement system is an integral part of a B2B marketplace. Tap a wide market of potential buyers and such b2b market place participant companies can build their web store using the same eCatalog which offers a good opportunity to target a totally different market segment. This by itself, is a unique opportunity as recent studies showed that an increased number of small companies with less than 20 employees are making more than 25 percent of their sales online.

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Guide from: Business to Business directory