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Why should the enterprise embrace B2B e-Commerce?

24/11/2015

E commerce design

The B2B e-Commerce market will reach $1 Trillion by 2020. By then it will be twice the size of B2C e-Commerce. Yes, twice the size of  Amazon, Apple, Wal-Mart, Ali Baba and all other B2C e-Commerce players combined. It is also predicted that this transformation will see B2B e-Commerce laggards see revenue decline as sales increasingly shift online1.

Stats aside, what is it that’s driving this huge shift in B2B global trading? High on today’s enterprise agenda is ensuring Chief Procurement Officers (CPO) are building more efficient, compliance driven, effective methods of supply chain management. In deed the move from paper to paperless has in large part also been due to the risks associated with lack of commercial governance, uncontrolled contract variations, poor procurement standards, Maverick buying within organizations, and exposure to commercial, legal & financial risks.

The B2B e-Commerce transformation of the modern enterprise has also meant that in the context of procurement activities, fax, email, and even telephone is now passé. High on the CPO tool box are e-Procurement systems and Work Flow Collaboration solutions. Cutting edge e-Procurement solutions offer easy and efficient electronic Purchase Order (e-PO), invoicing (e-Invoicing), and shipment tracking tools. Work Flow Collaboration solutions range from simple request and response to complex asset management tools.

Some of the trending topics among the B2B e-Commerce fraternity are listed below for discussion.

  • Catalogue Integration is a major focus for best in class companies. The main forms of integration are PunchOut catalogues and CIF (static) files. PunchOut Catalogues are classified as level 1 and 2.
  • e-Signature and e-Contracts are high on the deployment list.
  • Companies are looking towards customized buying portals.
  • The top 5 priorities for the CPO in the next 3 years areSavings, Processes, Compliance, Innovation, People2 .

1. Forrester Research – Forecast view, May 2015.

2. Ardent Partners CPO Rising research.

 

 

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