The ‘Business To Business’ platform is an essential route to exchange goods, services and legitimate information between one business unit to another over the internet. It doesn’t include the customer base, making it more divergent and formal than various e-transactions that happen online. It should be in our best interest that ‘Business To Business’ is labelled as ‘E-biz’ and has been in the practice for quite a while now.
Since it is stereotyped as a global trade market, where it is convenient to purchase value added products and services, the biggest edge of using ‘B2B’ is its unique feature of saving an ample amount of money and making immediate decisions to achieve business objectives.
It reduces the time consumption for suppliers in responding to the buyers, showing them additional catalogs and ordering the stock in an efficient manner. It minimizes the risk of erroneous transactions and the total amount of inventory is paid online as well. Furthermore, it can trace the supplier’s history along with sales alliances and various other aspects that need to be overlooked before making transactions.
There was a massive growth in opening websites that support the functionality behind ‘B2B’ and within a short span of time, the internet became a place where business to business operators are dispersed everywhere. These platforms provided people the most economical rates in terms of purchasing the stock as well as getting them delivered in the warehouses in cheapest price.
However, it increased the risk for smaller companies as they’re getting battered out from the large electronic market owners. The price for making one transaction from these platforms has already gone up, that’s due to an overwhelming competition in this field. The biggest disadvantage lies in such a fierce nature of competition where it’s not easy to remain tangled with our market share.