A B2B (business-to-business) portal is a type of digital commerce that allows for an exchange of information, products, or services between businesses.
It is also carried out between two businesses, for example, wholesalers and online retailers.
Therefore, with improved technology, stiff competition, and modernization, a B2B portal is a must need for both current and emerging manufacturers.
Based on research, B2B transactions are forecast to reach $21 billion by 2027.
Moreover, B2B is carried out through various categories of websites like company websites, procurement, product supply trades, information websites, and brokering portals.
Here are some features manufacturers need to consider for B2B portals.
B2B portal for manufacturers enables organizational efficiency if it empowers clients to carry out business activities via self-service.
Henceforth, it should involve placing orders online and facilitating tracking within the portable. Manufacturers should ensure that customers (retailers) can access order history, tracking numbers, and actual status.
To facilitate this, manufacturers ought to link SAP ERP with the B2B portal for customers to track orders and reduce the inquiry burden.
With the emergence of digital currency, it would be important for manufacturers to integrate online payment on their B2B portal such as Virto Commerce.
Doing so eliminates the need for customers to make paper-based payments since they can view invoices and make instant online payments.
Personalized Product Catalog
For individual customers to see and order different products, manufacturers can design personalized product catalogs and then link them to their B2B portal.
This can be done by leveraging their SAP ERP business rules. The pick list or product permissions defined in SAP should be implemented in the B2B portal for manufacturers.
Price and Inventory Check
Manufacturers’ B2B portal should allow clients to check the price of different products without having to add them to the cart.
This enables customers to get the accurate price of products and actual inventory information within the portal.
Other than that, some common B2B portals that can help your business grow to include:
Based in Hangzhou, China, Alibaba is a B2B portable that enables manufacturers to sell their products online to retailers or direct to consumers. Furthermore, it provides online payment, price comparison search engines, and cloud data storage services. It is among the oldest B2B portals serving over 36 million users.
As of 2014, it had recorded over $8 billion in revenue and it is listed on the Hong Kong Stock Exchange.
Global Sources is a B2B portal known for having reliable suppliers from various industries.
It was developed in Singapore in 2000 and hosts verified suppliers. Furthermore, it enables international trade to emphasize bringing traders from different continents together. 95 percent of well-known manufacturers and retailers link through this portal.
Marketing almost 35 million products in 230 countries around the world, DHgate is a B2B portal for manufacturers enabling importers to purchase sizable volumes of Chinese products from manufacturers.
According to the latest information, this B2B portal has over six million clients worldwide with at least two million Chinese sellers and is among the most visited pages on the internet.
However, having been accused of scamming, it is recommended that you only transact with verified suppliers and manufacturers.