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Business

What is A B2B portal and why does your company need it?

The constant advance of new technologies has meant that new forms of business appear almost daily. In fact, the consumer does not buy in the same way as before, so companies have to change the way they sell.

Certainly, whenever there is a customer who needs to buy something, there will be a company that offers to sell. It’s the law of supply and demand. However, when one business needs something from another, a B2B portal comes into play.

What is a B2B portal?

A B2B portal or extranet is an online network focused on the exchange of information and sale of products or services between companies, never with the end user (B2C). This type of portal, in addition to selling, helps businesses to:

Interact with customers, suppliers, distributors or intermediaries
Improve communication
Share documents
Manage transactions more effectively
Improve competitiveness
expand markets

How is a B2B extranet different from an ecommerce?

Although its operation is similar to that of any online store, its differences are notable.

Target market: a user who makes an online purchase does not act in the same way as if he did it for your company. A B2B buyer uses his work time, spends company money, and acts more responsibly.
Conversion rate: since the user arrives at a B2B extranet with a specific purchase intention, a higher conversion rate is achieved than in an ecommerce.
Sales process: in B2B the sales process is short and agile, unlike in B2C which are usually more extensive and complex.
Purchase decision: in a B2C, impulse and emotions often prevail, while in a B2B several people can even intervene to make a more rational decision.
Security: all B2B stands out for being a closed and secure platform that only customers can access. In a B2C anyone can enter as it is an open platform.

7 advantages of B2B portals for customers and the company

There are several benefits of using a B2B portal for both customers and the company.

1. They improve customer service

B2B extranets are available at all times, being able to access them from any place and device. Therefore, the customer can check the stock of the products, place the order in a few steps or consult business information to close a deal.

2. They automate logistics

B2B portals speed up the organization of orders and shorten delivery times.

3. They facilitate access to more products or services

A B2B extranet brings customers closer to partner proposals and offers more transparently.

4. They streamline processes and workflows

Many steps are saved and numerous errors that occur in traditional order management are avoided.

5. They reduce costs

The number of commercial visits necessary to close deals is considerably minimized, as well as the time spent on the phone, sending catalogs and new offers, email responses to questions about stocks and rates, etc.

Likewise, the integration of B2B solutions with ERP platforms (Enterprise Resource Planning) allows for more detailed control of financial movements.

6. They help to enter new markets

With a B2B solution, you do not depend on local office hours, since internationalization brings opportunities never seen before. And it is that with B2B portals you can explore other markets without having to carry out costly expansions or displacement of sales teams.

7. They help identify and take advantage of import opportunities

The costs of acquiring resources or raw materials for production can be optimized.

Why use a B2B portal?

There are different reasons to bet on a B2B extranet.

1. The business will be open permanently
Customers can conveniently place orders and inquiries from any device and location at any time.

2. Current and future stock is sold
Customers can know in real time the availability of items and when they are available in case they are out of stock.

3. You save time and money
Customers can make orders and queries about the status of accounts, deliveries, invoices, purchase status, product availability, delivery times, etc. at any time.

Likewise, by offering this information on the B2B extranet, customers are encouraged to connect and check the news or active promotions. This can increase the volume of orders they make.

Conclusion

If you buy and sell to other companies, one of the best ways to digitize a business and increase sales is through a B2B portal. Although it is not an easy job and will take time, staff and resources at first, it will certainly put the business ahead of the competition. At Intelequia we offer the DNN Platform so that companies can work with a top-level B2B extranet.

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