Setting up a website has become increasingly simple, so it's typically the first thing small to midsize businesses (SMBs) do as they prepare to launch. While many SMB owners lack the resources of an internal sales team, eCommerce is a viable option for many small vendors.
As this blog has mentioned in the past, a number of B2B vendors are turning toward online sales as the industry continues to shift in that direction. Small business suppliers can truly benefit from an online store. Steven Kramer, a contributor with the online publication E-Commerce Times, wrote a recent article listing the benefits of a B2B eCommerce site for SMBs.
"B2B small businesses have historically struggled with labor-intensive processes that are inefficient and hinder organizational growth," Kramer wrote. "Multichannel commerce technologies help B2B small businesses save time and resources through the automation of online and offline transactions. B2B e-commerce also allows these companies to streamline warehouse, call center and other functions that have the potential to become choke points in the company's efforts to achieve targeted growth objectives."
While SMBs tend to lack the number of employees needed to effectively launch a traditional sales team, they also typically cannot afford the high processing fees imposed by credit card companies. This could be a problem for online B2B suppliers if their customers use traditional credit cards to pay for business procurements.
That's why vendors must implement payment solutions designed to process p card transactions with level 3 data. By collecting line item detail, vendors can save a tremendous amount of money on processing fees, which allows them to enjoy increased net profits. Working with a B2B payments provider can allow companies to acquire the solutions needed to process these types of payments.