The use of the internet to make B2B sales is growing more popular every day. According to a new study, that could become a universal trend.
A recent study from the Stanford Global Supply Chain Management Forum found that 96 percent of respondents are planning to increase their B2B eCommerce programs by the end of the year. This would include adding to the number of customers, suppliers and business processes that are run through an eCommerce platform.
The numbers went a little deeper. More than 60 percent of respondents said that to accomplish this increased adoption, there will need to be a corresponding increase in B2B Integration budgets. Companies that have already rolled out an eCommerce solution are reporting an average cost savings of 40 percent as well as a 40 percent decrease in order processing costs.
A Digital Supply Chain article examined the study. It featured an interview with Steve Keifer, the vice president of marketing at a B2B payment solution provider.
"The increasing investment and adoption in B2B integration underscores its importance for companies. As the demands of managing global supply continue to grow, the complexities of connecting and collaborating electronically with global business partners grows increasingly vital," Keifer said. "The survey findings reinforce the importance of integrating B2B eCommerce operations for today's companies to effectively operate their supply chains."
A proper B2B eCommerce solution involves more than just setting up a website. Companies need to provide features like Level 3 data and line item detail to become a more in-demand system.