B2B portal: A Business Platform to Ultimate Productivity Improvement

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B2B portal:A Business Platform to Ultimate Productivity Improvement

If somebody tells you that your present corporate website can be converted to a B2B portal which will help you significantly improve your company's productivity in both of the two primary factors: Revenue Growth and Cost Saving, and that the portal can be launched in a matter of months with a very reasonable investment, what will be your reaction' Read on to learn how corporations all over the world are missing an opportunity, which can revolutionize the way they manage their businesses.

What is a B2B portal'

A portal is defined as an access point to World Wide Web. A portal is a combination of web pages, features and services which become a primary destination for users. The word was first used to describe the sites of popular Internet access providers or search engines such as AOL, MSN and Yahoo! At a later stage, the word "portal" evolved into something bigger covering business websites, where a corporate portal or enterprise information portal acts as a base for employees, customers, suppliers and other associates of a company to access corporate information and web services. A B2B portal is a distinct kind of website with features to conduct electronic business and manage significant parts of corporate business processes.

Benefits of having a B2B portal

Today, B2B portals are not just a fancy idea! They are an absolute necessity for all enterprises of any type and size. The advantages of having a quality B2B portal are massive. Implementation of a true high quality B2B portal could have immediate impact on company productivity.

Revenue Growth

Revenue Increase from Existing ClientsExisting clients get faster and easier access to product information, quicker response to their requests, get better customer support and are able to buy products online. Revenue Increase from Value Added ServicesOnce a B2B portal is set as the primary sales channel, spared resources can be used to create more value added services for clients. Some of the services that the portal may offer also could be utilized to generate more value.

Cost Savings

Order Processing CostIf the B2B portal integrates supply chain management solution, it will reduce the cost of processing orders drastically. Studies show that similar solution can reduce cost of processing a purchase order from US$ 70 down in average to US$ 6 only. Sales and support costsAutomated sales and customer support features integrated in the solution is capable of reducing overhead costs up to 30 percent.

Inventory keeping costs

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Clearer visibility and forecasting ability thanks to various features of the B2B portal may help companies considerably reduce inventory keeping costs.

Other key benefits include:Low customer acquisition costEffective portal branding on the Internet will help to attract customers from new sources. The cost of acquiring customers through online channels is always cheaper than other traditional methods.

Improve customer serviceAbility to have constant interaction with customers through the B2B portal helps companies serve customers better. The B2B portal solution allows tracking the whole ordering process from payment to delivery and brings greater efficiency in customer service.or directly buy products using the shopping cartReduce sourcing time cycleThe customers can select products from the integrated marketplace of the B2B portal and either sends purchase orders or directly buy products using the shopping cart. Buyers handle all their procurement related correspondence from a consolidated working page, which helps them react instantly and reduce time in document processing.

Community participationCompany buyers and sellers can create communities surrounding the B2B portal's discussion board. This helps getting valuable feedbacks on time, building new partnerships using the networking ability of a community, and disseminating important information to members easily.

Real time access to current product informationCurrent information of a product is vital for an accurate buying decision. Updating product content and other information using customized forms as it is necessary, the company can help buyers and other associates to take critical decision promptly.

Control rogue spendingConsolidated and automated procurement and approval method stops maverick buying in a company.

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Main components of a B2B portal

Supply Chain ManagementSupply chain management solutions can deliver great ......