Magento has been favourite for big and small ecommerce sellers, It is Open Source, PHP based eCommerce platform and it is the most powerful CMS and more than 2,50,000 active sites.
Mid 2018 Adobe took over ownership of Magento to leverage the platform’s strengths and make it bigger. Earlier it was for B2C ecommerce sellers but new magento 2 platform came up with features and functionality for B2B business.
Here, In this blog, We will check some of the reasons why Magento is the right choice for B2B ecommerce businesses.
When you are building an eCommerce store, It is required to have a user-friendly platform. There are many features that will make your website attractive and intuitive. Magento can be easily integrated with ERP systems or CMS to make product acquisition simple and smooth. It also offers smooth checkouts which is a bigger advantage for B2B customers.
Bulk Ordering Support
B2B customers purchase the products in bulk compared to B2C customers so eCommerce websites must have bulk order processing features. Using Magento, Navigation of products are easy, advance filters to search products, Search by SKUs and in addition to that it allows customers to copy products from previous orders to make faster checkouts.
Access to Business Financials In Real-Time
Magento is giving real-time information about your trading account i.e Stock, Inventory, Available Credit Limit etc. You can use this real time data to make your business decision by keeping watch on assets and liabilities.
Efficiently Segment Customers
In B2C each customer is different but in B2B it requires to define a segment of each B2B customer. By getting Magento Development Services from a trusted company, You can easily define groups of customers into different segments i.e Order history, Ordering quantity, Credit Limit, Frequency of Order etc.
Which helps a customized buying experience to buyer and it easy to track buying behaviour of buyer from their purchase history so you can provide them attractive offers and discounts to convince them for next orders which will give boos on overall sales of your business.
Inbuilt Powerful Reports
There are in-built reports available in Magento to keep track of performance of your organization.i.e Purchase Report, Sales Report, Procurement Report, Product Information Report to streamline your business process.
It is easy to track individual purchases as well as generate sales reports for week, month or quarter which can help you streamline your product inventory management.
Sales analytics gives a clear picture of your sales to maintain proper cash flow of business as well as product inventory workflow which will help to avoid bad debts or poor inventory decisions.
Custom Quotes for Each Customer
B2B sales contains many steps for completing the deal. It’s not the same as B2C where a customer comes at your website, adds products to cart and Check out but in B2B sales is with bulk purchasing so it involves long negotiation between buyer and seller so custom quotation plays a big role for breaking the deal.
Magento has inbuilt modules to generate customized quotations based on customer’s specific requirements which helps to increase sales revenue. Negotiation is a crucial part in B2B business so Magento understands this part and provides a smooth process for custom quotes and price negotiations.
Customer Service Modules To Increase Sales
Magento offers some services like cross selling, up-selling, customized selling etc to help business owners to increase the sales. Customer service modules will help to keep track of customers and convert them into regular buyers.
Create Custom Catalogs
You can take help from Magento Ecommerce Development Company to customize product catalogs and product price list as per customer segments. I.e You can give better price and discount to regular buyers compared to first time buyers.
Inventory Management In Magento
For B2B sellers inventory management or supply chain is very important in business so magento is providing automated business rules for order fulfillment. I.e You can set reordering rule, in which once stock quantity of products will reach to below certain level then it will automatically triggers email to supplier to send products for an inventory which will save time as well as right stocks of all products at right time so magento improves your day to day operations and streamline inventory management.
Magento B2B eCommerce – The Best Choice For Sellers
Magento eCommerce platform provides efficient and seamless buying experience to both B2B and B2C customers. If you are going to start your online eCommerce store then you can get benefits of the Magento platform to streamline your business or If you have already established magento eCommerce store, You can go with Magento 2 Migration and enjoy features and functionality of latest version.