The e-commerce industry is flourishing like never before and so B2B transactions are also moving to online platforms. Therefore, B2B eCommerce websites need a strong and secure platform to support their business. In this article, we want to introduce the Magento B2B platform for businesses.
Overview of B2B and Magento B2B
B2B is business to business. This is a form of business-to-business transactions, such as those between manufacturers and wholesalers or wholesalers and retailers. A key feature of the B2B market is that the number of buyers is small but the volume of orders is higher than that of the B2C market, another type of commerce in the same industry.
Magento B2B is a great choice for companies in the e-commerce sector when they want to build a secure and responsive website that meets requirements such as eCommerce integration or an automated wholesale portal.
What are the Magento B2B features?
Account management and catalog permission
If the buyers are collectives or large groups, the account management will be quite complicated for businesses. So Magento has created a specific company account feature for B2B users. This feature allows users who are representatives of any organization to access and they will be called admins when they have an account. Then each business can create its own sub-account with flexible permissions. This is very suitable for businesses to manage their business activities.
Security is the most important factor in establishing the reputation of B2B companies, and in particular, Magento’s security is a significant factor because Magento has a secure PCI compliance check process that helps businesses authorize, distribute, and process B2B payments seamlessly.
Besides, with its cloud-based architecture, Magento also provides a highly secure environment through other security-related factors such as consumer’s browser; content delivery network and DDoS protection; penetration testing; encoding; read-only file system.
B2B sellers are more focused on keeping customer loyalty and especially, customers in the B2B market are mainly other businesses, which often leads to greater revenue but this customer is often more difficult to find. Therefore, website performance is an important factor constituting the success of B2B vendors.
As for website performance, Magento for B2B offers a wide range of plugins to compress images while uploading to the website making loading faster, saving business time. In addition, this B2B provider also helps optimize to reduce page size and improve response time.
Negotiating in B2B transactions is quite harsh but Magento B2B, allows businesses to hide prices, set up quote requests, and negotiate prices with customers. This policy will be flexible and create a connection between the seller and the buyer.
Moreover, with transactions in B2B, with high-value orders, or with partners with long-term relationships, the payment will be delayed frequently. But with Magento, your business can allow companies to complete payments with deferred payments and track customer credit data to assign limits to each account.
Quick order & requisition lists
The ordering process is very important in increasing B2B commerce sales. For Magento, customers in the B2B market can place orders quickly using the desired product catalog. Customers simply upload a list of SKUs in a CSV file and add products to their cart with one click. Magento will then automatically confirm the SKU, check the inventory, and notify the customer if those products are in stock or not.
Furthermore, sellers can create product categories such as bestsellers or the latest collections to make it easy for customers to find and purchase.
There is no denying that Magento B2B has specialized features that help specifically support B2B eCommerce websites. If you are looking for a tool to help manage your Magento store, feel free to contact us.