Top 10 Features Of Magento To Grow Your B2B Business
Ecommerce between business to businesses is a complicated process. It has more stakeholders, a longer sales cycle, and a large number of sophisticated products. B2B transactions become more challenging than B2B sales when you combine research-based awareness, higher consumer expectations, and a substantial influence of buying emotions.
As a result, to survive in the competition, business owners have to make their B2B selling process easier to survive in the market in a long run. Fortunately, businesses can use different technologies that help manufacturers and retailers to communicate effectively with their corporate clients.
Magento B2B is an eCommerce platform and its features solve all the problems of business owners. With Magento eCommerce development, you get a personalized buying experience, multi-channel selling, powerful search functionality, seamless ordering, mobile responsiveness, extensive B2B functionality, and robust merchandising.
It also provides theme customization, a rich set of built-in B2B features, backend systems, and integration with ERP and CRM.
Top 10 Features of Magento To Grow Your B2B Business
Here’s a list of the top 10 features of Magento that will scale up your B2B sales.
- It Offers Shared Catalogs To Create Custom Pricing
Exclusive promotions and pricing is the core of B2B business. A shared catalog explicitly solves this purpose. Magento development allows you to create different catalogs which you can share on different systems of your organization.
It allows you to create custom-designed catalogs which will be exclusively viewable by the specific users of your company accounts and help you to publish them to the public.
Benefits are:
- You will get the option to add or remove items while building your inventory management or catalog
- Price lists for various clients can be customized such as the value of products and discounts
- Can create multiple prices for different products and work on fixed and dynamic pricing models that offer percentage discounts to businesses so that they can buy your product
- You Can Create Different Company Accounts For Managing Roles
Magneto helps to capture all the important fundamental firm information on the account registration page which includes statutory details such as licensing information, tax information, and many more.
It also facilitates capturing user information and organization structure. It also necessitates the creation of individual and corporate accounts as B2B commerce provides value to the people of the organization with distinct tasks and responsibilities.
Benefits are:
- There are no limits and you can create multiple accounts for different people in your firm
- You get the option to use the store credit
- In a small hierarchical structure, access and permission to use accounts will be based on roles and responsibilities
- The administrator manages all your accounts
- Quick Order
Unlike B2C, where the catalog is endless and you spend more time on your website to increase your income, Magento makes the ordering process as simple as possible and meets all the needs and demands of buyers of B2B eCommerce business.
Your buyers can take the advantage of this functionality and can directly import products into the Speedy Order Form. After this, they can create requisition lists, copy a previous order and completes the transaction process with minimum clicks, and have a quick checkout process.
Benefits are:
- Get improved inventory management and control
- Quickly calculate your estimates
- Saves your time in shopping for products
- Requisition Lists
It is similar to a B2B wish list as you can maintain up to 999 lists and also place orders from that list. Using a requisition list helps to save time when purchasing frequently-ordered products as things can be directly added to the shopping cart from the list. Here, it also becomes easy to place multiple-item orders.
Benefits are:
- Ability to provide discounts and access to the potential purchase
- Spend less time looking up things that are usually being purchased more often
- Provides data-driven restocking options
- Quotes
Bulk orders are common in B2B business, therefore a proper eCommerce system with a fast workflow can help customers looking for a quote. After requesting a quote from the shopping cart, an authorized buyer of a business can start the price negotiation process.
Benefits are:
- Only authorized users will have access to the page
- Provides price negotiation from a quick offer
- Accepting or rejecting quotes, calculates discounts, sets an expiry date of your quotation, upselling options, and checking overall prices
- Payment On Account
B2B transactions are usually made on credit and payments are not necessarily made online. Payment on account in Magento helps B2B businesses to issue a credit to clients along with standard payment options such as PayPal and credit cards. It allows businesses to pay offline and account it so that it can be reconciled into the transaction later.
- It Allows For Flexible Payment Options In Purchase Orders
Magneto allows businesses to order goods from merchants without paying completely using Purchase Order (PO) option. This functionality helps customers who need goods but cannot pay completely at one time.
Clients pay a certain amount of the purchase order as soon as they receive your invoice and the rest of the amount according to the deadline provided in the documentation.
Benefits are:
- Increases loyalty among clients
- Improves business-to-customer relationships
- Improves customer experience
- With Increasing The Minimum Order Amount, It Increases The Profit Margin
This function determines the minimum amount of purchasing volume of every user after the deduction of all taxes and discounts. You can also control which products are included and which are excluded from the minimum amount policy and the number of goods.
Benefits are:
- You get the opportunity to secure agreements through the reserve option
- Possibility to provide reduced or free shipping
- Increase average revenue per user
- With Business Intelligence, Get In-depth B2B Analytics
For B2B intelligence, Magento eCommerce provides data analytics which is a valuable tool for businesses who want to understand their business process deeply. Magneto offers simple tools that show various information such as Customer Lifetime Value, Average Order Value. Business Statistics and Retention Rates.
- Magento Integrates With Your Enterprise Resource Planning (ERP) Systems
Connecting your digital commerce platform with your ERP systems will provide useful business data and helps to improve customer experience. When your ERP software has all the information such as customer data and online sales, you will get the complete picture of your overall business performance.
Magento development offers pre-built ERP interfaces. Many companies provide Magento support and maintenance services that help different clients to grow their eCommerce businesses.
To Sum Up
The success of any B2B Ecommerce business is determined by the quality of its management. Business owners should use merchant platforms and result-oriented tools to take their company to the next level.
Magneto is a great platform that offers B2B eCommerce digital solutions to entrepreneurs that enable them to scale their business, manage client relationships, make data-driven decisions, oversee the ordering process and improve corporate client experience.
