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|Admins, makers, marketers, or analysts, automatically||Jan 14, 2021||Apr 1, 2021|
The global e-commerce industry has been experiencing rapid growth during the last two decades, and with growth comes change. The opportunity for business-to-business (B2B) sales has seemingly received significantly less attention, possibly due to the millions of entrepreneurs competing for business in the business-to-consumer (B2C) market.
The data reflects that the tremendous potential for B2B e-commerce can’t be ignored for long, though. B2B e-commerce transactions in the United States have grown 40 percent, from $559 billion in 2013 to $780 billion by end of 2015. In 2018 alone, B2B e-commerce sales in the United States were estimated to exceed $1 trillion with continuous forecasted growth, according to Forrester Research.
Furthermore, 74 percent of B2B buyers research online and 30 percent buy at least one-half of their work purchases online. Manufacturers, distributors, and wholesalers alike are investing heavily in next-generation enterprise B2B commerce technology to ensure they are delivering world-class online buying experiences that can scale for anticipated growth. As a result of this wave of investment, manufacturing and wholesale trade firms will spend more on commerce technology by the end of the decade than their peers in B2C retail.
As e-business teams look for solutions in the market, not only are they benchmarking their future-state online buying experience against B2B peers, but also against B2C leaders. They need solutions with a best-in-class foundation of B2C features, such as robust marketing and merchandising and experience management tools. Unique B2B capabilities such as contract pricing, quotes pricing lists, e-procurement, product configuration and customization, guided selling, bulk order entry, and account, contract, and budget management can then be layered on top.
As a part of our B2B e-commerce initial offering, the following capabilities will be enabled:
- Business partner onboarding
- Order templates
- Quantity thresholds (minimum, maximum, multiple)
- On account payment method
- Salesperson for business partner
- Account statement and invoice printing
- Payment of sales invoice
- Quick order entry
- Dynamics 365 Sales integration
Set up a B2B e-commerce site (docs)