Explore the Importance of Adapting to Digital Commerce in B2B

17 Mar
2022

 
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Digital commerce, also referred as e-commerce, is essential for almost all organizations to grow their business worldwide. Today, B2B organizations are thoroughly recognizing the value of employing digital channels to provide customers a personalized and responsive experience. More than thousands of businesses and organizations have shifted to B2B digital commerce to sustain and enhance their business. Digital commerce in B2B is needed for everything regarding product pricing, promotion, analytics, content development, customer acquisition & retention, and many more. It is a process that uses information and communication technology (ICT) to support end to end value chain from producers to suppliers to customers. It offers customers an Omni channel, streamlined buying experience.

Choosing a suitable digital commerce platform for your business can help in providing exponential future growth in the long run. Few popular platforms such as Shopify, Salesforce commerce cloud, SAP Hybris, Big commerce, Magento commerce, and Sitecore experience commerce can enable to make a uniform shopping experience across all point of interactions.

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Moreover, in order to run business processes efficiently and to provide end to end visibility, it is necessary to integrate the digital commerce platform with enterprise resource planning systems (ERP), customer relationship management systems (CRM), and product information management (PIM) systems. Also, to gain more advantages like flexibility, agility, lower cost, better performance, stronger security, and so on, business should move to cloud computing. With an aim to improve customer retention, develop the type of products that your customer demands, enhance the existing product lines, and gain an edge over your competition, enterprises must use data analytics in digital commerce.

Furthermore, in the modern times where people are spending more time on their phones or tablets, mobile commerce has become an integral part of business. In addition to having a B2b site, one must have a mobile B2B presence in order to remain competitive in the market. Through B2B e-commerce mobile apps business owners are able to engage more with their audience and control their business processes flexibly. Also, these apps help in obtaining new customers, provide services to potential ones and expanding the business based on customer behavior.

According to a report published by Allied Market Research, the global digital commerce market size is registered to reach $17.53 trillion with a considerable CAGR from 2021 to 2030. Certain factors like surge in penetration of the internet & smart phones, growth in usage of social media & social commerce, and advancement of multiple payment modes have supplemented the growth of the global digital commerce market.

In addition, the emergence of the COVID-19 pandemic has boosted the growth of the market to a great extent. The pandemic caused disruptions in the supply chain, which in turn, triggered the demand for digital commerce across the world. With this drift on board, Dialogue, a leading e-commerce enterprise, launched an AI-based digital commerce solution on the Shopify platform, which is likely to help companies recover from the impact of the pandemic. Here, it is worth saying that the future of digital commerce in B2B looks bright.

 
Alex Hillsberg

Alex Hillsberg

Chief editor of review team at FinancesOnline

Chief editor of review team at FinancesOnline Alex Hillsberg is an expert in the area of B2B and SaaS related products. He has worked for several B2B startups in the past and gathered a lot of first hand knowledge about the industry during that time.

 
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