- Procurement procedures that are difficult to understand (23 percent )
- Integration between sales channels is lacking (20 percent )
- A shoddy webpage (15 percent ),
- All purchases must be made through a sales representative (15 percent ).
What Makes a Good Business-to-Business Relationship?Buyers in the B2B world make decisions based on logical, quantitative criteria. Reliability, product quality, product range, warranties, and support are all crucial factors. All of these elements are still necessary for long-term B2B interactions. Buyers, on the other hand, expect providers to update. In the past, most buyer-supplier interactions were handled by the supplier’s sales team. Buyers today are considerably less likely to rely on salespeople. They desire self-service solutions that provide a shopping experience similar to that of a consumer. This is supported by a McKinsey poll conducted in late 2020. Buyers prefer not to deal with sales departments in greater than 30% of cases. Even for larger purchases, 99 percent stated they were glad to use a digital self-serve channel. Suppliers must compete not only on price but also on product quality and lead times. They must also provide the purchase experience that clients desire. The quality of your digital sales channel may determine the longevity of your B2B connections. But, in 2022, what will the ultimate digital sales platform look like?
Improving Supplier RelationshipsBuyer-centered digital purchase experiences are the foundation of long-term B2B interactions. That includes eCommerce, eProcurement, and integration in 2022, with procurement automation tools, purchase order automation, and electronic invoicing like HubBroker’s Solutions.
TransparencyWhen purchasers intended to make a purchase, they would telephone the sales department of a potential supplier. They now expect to get product information in the same way that they acquire other types of information—through the internet. Transparency in information is important to buyers. Product information, pricing, discounts, policies, lead times, and other information should all be accessible over the internet. One of the advantages of B2B eCommerce is its transparency. Buyers want detail, openness, and flexibility from an eCommerce business with B2B-friendly features. A digitized, integrated B2B purchase experience is likewise built on the foundation of eCommerce.
DigitizationTo digitize and centralize procurement, B2B buyers use eProcurement solutions. Buyers can use eProcurement to cut procurement costs, eliminate rogue spending, and guarantee that personnel follows procurement standards. Many eProcurement capabilities, on the other hand, are reliant on supplier cooperation: they can only function if the buyer’s eProcurement system is linked to the supplier’s eCommerce shop. HubBroker’s Integration solutions help you with that.
IntegrationA buyer’s system and a supplier’s eCommerce shop can communicate through eProcurement integration solutions such as the ones provided by HubBroker. They can automatically transfer procurement documents and data once they’ve been incorporated. Integration reduces the need for manual data entry and the errors that come with it. It also offers a slew of automation capabilities that boost buyers’ and suppliers’ procurement productivity and efficiency.
AutomationTo improve the procurement experience, B2B automation uses eProcurement integration. Buyers are increasingly willing to abandon suppliers due to cumbersome procurement processes and unsatisfactory purchasing experiences. B2B transactions are greatly simplified by procurement automation. When a buyer’s eProcurement platform is linked to a supplier’s eCommerce shop, they can take use of automations such as:
- HubBroker’s eCatalog Solutions
- Purchase order automation