Objective Business to business marketplace is an online venue where buyers and sellers come to communicate, collaborate and do business transactions. A B2B marketplace handles a large number of participant companies as a community. The main objective of a marketplace is to organize a business platform filled with features that allows members to conduct various business processes over the Internet and increase company productivity.
Community of Buyers and Sellers By becoming a member of a B2B marketplace companies get instant access to thousands of prospective buyers and supplier. An average B2B marketplace has over 100 thousand members. This gives an opportunity to expand business by finding new customers and suppliers from this new community. Workings closely with the members of the new community companies get every chance to increase their businesses dramatically.
Real Time Marketplace Buyers can study, compare and research a product offered on a marketplace without leaving the marketplace. This ability of a B2B marketplace to give key information necessary to make a purchasing decision helps buyers to take a faster buying decision.
eCatalog for Product Features An eCatalog is an Online product content management solution with powerful user interface which provides efficient navigation, searching and integration capabilities to organize and publish product information and enable real-time handling of business processes related to buying and selling.
B2B Selling Process The sales chain integrated to a B2B marketplace covers every stage of selling process including quotation, negotiation, billing and shipment tracking. Electronic sales process considerably reduces sale’s cycle enabling lower processing costs. Electronic sales solution also helps minimizing document errors often associated with paper based systems.
eProcurement Solution for Buyers 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. Procurement through a B2B marketplace has many undisputed advantages. Transaction costs get reduced thanks to streamlined transaction process. It saves time and stops rogue spending by employees.
Today B2B marketplace in india is one-stop business solution for many of the requirements of the companies. Usually a marketplace offers a huge range of features and functions. Participant companies can select required functionalities, use them effectively and reap all the benefits mentioned above. Source: http://ezine.rusbiz.com/