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In the modern world where everything progressively hyper-connected, B2B buyers do not just compare e-commerce businesses to their rivals; now they are drawing comparisons of them with each online interaction they experience on daily basis. If this sounds for you a little unfair, think about this: they also have sky-high expectations about this. In this article, we are going to explain this change in expectations and offer a great solution that fully suitable for the weirdest demands of B2B e-commerce.
Just like many of us these days, B2B buyers are long used to actively using online services that are offered by Netflix, Amazon, Uber, and other big brands. Many agree that one of the reasons for their smooth success is that the create a natural e-commerce experience for its clients.
But then, as a B2B client, the seller does not wish to have to come in grips with any kind of paperwork or to have a long and boring validation process to decide if you can buy or not. All of them just want to have a strong and active cash flow that is no way dependent from the risk of losing profit to speculators or having to support financially the commerce by themselves (specifically, they will not have to wait for fiat money until the customer pays fully for his or her invoice).
Is it possible to have similar expectations when you work with B2B e-commerce?
Of course. You just need to face the position where you will have to use financial services that help your business processes and that offer a good combined customer experience. There is a company, AFS, that specializes in providing a complex these services. In the article, we are going to concentrate, how one of its partners in Finland, Enterpay, is supporting e-commerce businesses that can turn into an unpredicted way.
Streamlining B2B e-commerce
These days, whether we are doing business online as just consumers or B2B buyers, we want to have simple, seamless, and highly customized experiences at any time we work with a business. Put it another way, we do not want to bear with putting up with clunky and manual processes. It annoys a lot and many statistics show that we are ready to take our businesses in other places when we face certain hassle online.
If this is just a new philosophy, what should we expect from it in the nearest future?
We wait for innovation to pick up its speed in the B2B e-commerce market, while all studies show that B2B will consolidate itself as the biggest e-commerce field. While nowadays technologies and variable consumer expectations are raising the standards for B2B e-commerce, offering the best customer experience will turn into basic for many B2B merchants, and payments will become a crucial factor in this kind of race. Soon enough, Amazon will be localized in the Nordics, and it is possible they may target the B2B market someday. Taking this into consideration, it is a crucial time to be prepared for the period in e-commerce.
Making B2B e-commerce more simple
Enterpay was created to make B2B payments much easier for merchants and business buyers and, as a result, push B2B e-commerce. AFS and Enterpay together provide their services to finance companies, banks, and PSPs. Their services are fully equipped to cope with constantly adjusting expectations of B2B customers by offering users a possibility to make invoice payments in B2B transactions quite quickly, safely, and easily. By the end-to-end process of invoicing and automation of the buyer authentication, which is usually quite a risky, time-consuming, and boring task, the companies offering a great value for each member of B2B e-commerce value chain.
Enterpay has a certain payment scheme that consists of a strong platform where different parties support automated B2B trade and work in collaborations more smoothly. Consequently, B2B merchants can enhance the number of not only small but big customers. All in all, both the seller and the buyer experience simple onboarding at new merchants they work with and a more smooth check-out flow. With the help of e-commerce models of B2C and B2B that are greatly different, there are a lot more ways you can implement the B2C experience into your B2B buying cycle. Meaning, the more customers you will successfully close and the more likely you will connect with them for a longer period. All in all, it is just about the huge consumerization of B2B e-commerce and the big opportunities for B2B companies that will see it.
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CFOs need to make sure that all their organizations are fully prepared to enhance their conversions by identifying their buyer quite quickly, making online purchases painless and easy, erasing possible risks that are associated with online payment, and lessen manual work where it is possible. Besides that, any payment and order should be as simple as in any B2C online shop. In a few words, comfort is the main factor in successful online shopping. However, let’s not forget about time. If you want to have successful B2B e-commerce try to keep in mind all of these factors, otherwise there is still going to be some risk left.
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