As the B2B industry continues to evolve, digital transformation has transitioned from being a “nice to have” to a “must-have”. In fact, the last few years have intensified the need for B2B businesses to shift their focus to going digital.
A recent research shows that digital transformation has increased in 2020 with 69% of B2B marketers reporting having accelerated digital plans or launched new digital initiatives.
The challenges when it comes to B2B ordering are undoubtedly a pain for many B2B businesses. The lengthy and somewhat complicated process has caused many long-term implications in terms of business revenue and escalating operation costs.
If you are still using traditional ordering methods to run your B2B business today, the below pain points may resonate well with you:
1. Lengthy Ordering Process
An average B2B sales cycle takes about 1-6 months, starting from confirmation on the availability of goods, inquiry, ordering, payment, delivery and sometimes returns. A long ordering process also means a higher operating cost incurred, not to mention the high probability of errors which results in an even higher cost that a business has to bear.
2. High Dependency on Sales Reps
In the traditional B2B sales process, businesses are often highly dependent on sales reps to maintain relationships with customers. Business owners have to risk a high turnover rate for sales reps, which makes it difficult for them to ensure customer loyalty and retention.
On the other hand, B2B buyers are also heavily relying on sales reps to execute certain sales activities such as ordering, paying and goods return.
3. Manual Work Execution
The huge amount of paperwork which needs to be manually processed by B2B businesses can potentially be very time-consuming, and it is also easy to lose or misplace certain documents. With a large number of bulk orders coming in every day, long processing times, order errors and duplication may lead to high operation costs for businesses.
4. Confusing Pricing Structure
B2B pricing can be especially tricky because buyers are often categorized into different customer tiers with different pricing tiers based on their respective trade agreements. This may cause confusion especially for the sales reps. Some B2B businesses even have complex promotion structures involving multiple products in multiple durations, making it hard for both customers and sales reps to keep track.
Find Out How We Can Help Solve Your Problems
If you are currently facing the above and would like to explore the possibility of automating and streamlining your B2B sales processes, Boostorder may be the right solution for you.
Boostorder exists to help B2B businesses automate their sales and cashflow processes. We aspire to simplify and streamline trade processes through digitalization, enabling B2B businesses to elevate and enhance their performance and revenues. Through our plethora of solutions, we aim to help businesses eliminate complexity and provide clarity in every stage of the B2B trade flow. Click to know more about our products and solutions.