The growth of the online payments movement has given wholesalers in the B2B space an opportunity to venture into new markets and provide their customers with a higher level of service, but many have not yet capitalized. That's according to Steven Kramer, EVP Sales Americas at hybris.
Kramer expressed the same sentiment shared by his organization—that wholesalers are not fully prepared to successfully manage an eCommerce platform, even though businesses have been clamoring for their vendors to implement an online shopping environment. One area where this demand has been particularly prevalent is retail.
"Omni-channel commerce is having a trickle down effect on wholesaling, as savvy retailers expect their suppliers to provide functionality and features that are similar to those found in the B2C marketplace," Kramer wrote in a guest piece for Independent Retailer. "Even though retailers are expressing preferences for B2C type buying experiences, many wholesalers are not prepared to do business in the eCommerce space, and it is an oversight that may have [impacted] their ability to attract and retain retail customers."
Kramer offered a number of ways wholesalers can improve their online presence and provide a more efficient shopping experience for their customers. One of the more advantageous methods is improving the transactional process. Kramer pointed out that retailers are no different than any other business or consumer and that they want a fast and secure checkout system that won't slow down their processes or compromise the security of their information.
While hybris can offer wholesalers' tools to build eCommerce platforms and manage them in a way that better suits their customers' needs, it's important to obtain the payment solutions needed to process Level 3 data and qualify for the lowest possible interchange rate. Vantage B2B is a partner with hybris and by working with both organizations, wholesalers can overcome the obstacles Kramer mentioned.
Wholesalers that partner with hybris and Vantage B2B can help both themselves and their customers. They can provide buyers with a place to easily identify, buy and pay for products and services. They can also protect themselves and their customers by using a payment tokenization system that stores information offsite and keeps it protected from targeted attacks. Finally, the ability to process Level 3 line item data and qualify for the lowest possible interchange rate can help companies maximize the value of each transaction.