Since the development of the Internet, businesses have started looking for ways to connect with each other online. As a result, virtual B2B marketplaces came to life to fill the market gap, enabling businesses to communicate, collaborate, and sign contracts online.
Usually, most experts speak about the opportunities for vendors of various sizes to benefit by selling their products or services on a B2B platform. Nonetheless, B2B marketplaces offer unique opportunities for the buyers to streamline their procurement process and make substantial cost reductions in no time.
Find New Partners Easily
The first obvious advantage a global B2B marketplace offers to buyers is the ability to connect with and find new partners globally. The very nature of B2B marketplaces enables buyers to reduce their costs for finding new business and purchasing opportunities.
Find the Best Price Offers
Once you have found a few suppliers that meet your criteria, you can easily compare their prices and delivery terms. The marketplace software also enables buyers to send inquiries to a number of selected sellers and then compare their price offers.
Some B2B platforms also offer functionality to track prices by vendors and compare them in real-time, which enables you to buy your goods or services at the best possible price, always.
Unified Purchasing Experience
Global B2B marketplaces are integrated platforms that offer a unified experience for both the buyer and the seller. What it means is that you have all the tools to initiate a supply deal, check offers and prices, and then conclude a contract in one place.
Standardization and automation of purchasing processes and procedures result in marked cost savings as well.
Find Exact Product Matches
The software behind a B2B marketplace platform enables vendors to enter various properties of any product or service they offer. Therefore, a buyer can easily search for and find exact matches of the products required for delivery.
These properties include features such as colors, sizes, and dimensions but also product availability and delivery terms, including shipping costs and any applicable fees and taxes. This, in turn, enables a buyer to find the exact match for a product in accordance with a complex set of requirements.
In case, the product is still not available on the platform, he would have the possibility to chat with vendors or create a request for proposal, on marketplace solutions, which offer this extra feature.
The first online marketplaces emerged some 25 years ago as simple forums for individuals and businesses to find each other. Today’s B2B marketplaces are full-fledged software platforms that enable a buyer to take advantage of various features, which ultimately increase the productivity of buyers.
Connect to business partners worldwide
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