Benefits of using B2B online marketplaces
These marketplaces can offer lower cost spend that can be spread across multiple suppliers, especially when that spend isn’t managed by a procurement organization.
According to the Hackett Group survey:
- 59% percent of respondents saw an average of 5% reduction in prices due to price comparison
- 69% reported savings from reduced or free shipping
- 65% were able to consolidate their supply base, and 63% were able to save money on technology enablement because they weren’t on-boarding low-cost suppliers
Most notably, 89% of respondents also saw an increase in internal customer satisfaction. Since most people are familiar with the B2C versions of e-commerce, there is a certain level of intuitiveness that already exists when using B2B e-commerce, which helps to reduce the time to buy online, rather than shopping at a brick-and-mortar store.
According to the report, other “soft” benefits include reduced wait times and increased visibility into spend. The ability to shop efficiently allows organizations to focus on their business. Traditional procurement processes can be complex, causing wait times for products that can often last months. B2B marketplaces can streamline this process, allowing users to get their products in as little as two to three business days. Seventy six percent of survey respondents noted greater visibility into spend, due to the advanced reporting and data that’s available with an online marketplace.
To learn more about the value of using a B2B online marketplace like Amazon Business, download the 2019 Hackett Group report here. Independent research sponsored by Amazon.