Advantages of B2B
Ø Its is cost reduction technique for the company so as to overcome mediator
Ø With advancement in technology B2B can be done with the help of Electronic commerce.
Ø With the help of online auction the buyer of industrial goods can get the product at a cheap deal, as there are many competitors in an online auction.
Ø With E-Com electronic funds transfer-using EDI can be done between to organizations.
Ø B2B helps in lowering the cost for selling and marketing.
Ø It also shortens the selling cycle.
Ø The most important advantage of B2B is to have JIT just in time delivery, the company can have the track of good as to which place it has reached with the help of electronic commerce.
Transactions conducted through the internet between one business to another is called Business 2 Business. This type of business is carried out only through the internet. This business covers all types of organizations, right from auctioneers to business solution providers. This also includes business-business shopping and sales as well as provision of various services. With the advancement of technology with each and everyday, business transactions are carried out more easily and effectively as well as in a faster and efficient way.
Paper has been replaced by technology which makes the process easier and faster. In the United States of America alone, business to business has generated revenue of more than 7 trillion. Speed and Efficiency is very important in today’s competitive world, no matter what kind of businesses organizations conduct, and business to business has proven to be a big success because of the speed and efficiency. Businesses act with more speed and efficiency satisfying their customers which has proved to be an integral part of today’s B2B business. Moreover the growing resources of online services are helping business grow faster in every possible business area.
Some of the popular digital services offered are the news services, direct mail marketing, HR development and training. Due to the variations in the markets and business it is hard to estimate an accurate market size figure, but there’s absolutely no doubt that B2B is growing very rapidly and is the future trend of conducting business. In every possible way e-business should mask the value of the products sold to its customers. The biggest advantage which this kind of business over the other conventional businesses is the Just In Time delivery. The delivery of the products can be traced very easily and effectively thus satisfying both the Client and the Vendor. Prompt delivery satisfies not only the business but also ensures instant profits, thus making the transaction a successful one.
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