What consumer doesn’t have “unique” or “personalized” requirements? In this instance, omnichannel client alternatives include small-footprint specialty stores selling color/size apparel, a catalog, and an internet store. For instance, a smaller company may not offer a wide range of colors and sizes, or there aren’t many things in stock.
We have written this blog post on B2B eCommerce RFP to help you understand how to enhance the selection and deployment of new systems.
Learn more about B2B e-commerce RFP
An integrated inventory system is required to accurately portray floor inventory across all locations (stores and distribution facilities), whether accessed online through the store’s sales, customer support center, or online shop. It is also critical to access and alter data from the stores to fulfill orders placed directly by consumers.
It would be practically hard to understand the differences between new technologies without an RFP and on-site demonstrations.
Why are RFPs significant?
RFPs are required in the selection process for order management, warehouse management, online platform, content management system, and warehouse automation system.
Consider the ramifications of not doing on-site demonstrations
If you want to see all of a product’s features, you’ll have to look at it in person. We propose that you spend at least a few days investigating every aspect of the system and schedule your different department managers into system activities that directly affect their duties.
As a result, the owners have a legitimate reason to be concerned about every facet of the final choice. Aside from that, they often would like to know how much they’ll have to spend for everything from software licensing to hardware updates to annual support and maintenance. On-site vendor visits are vital for you to understand how the system is created, whether it will function for your organization, or if any alterations are required.
Before a vendor can offer a price, they must inspect your contact center and fulfillment processes. A picture is considered to be worth a thousand words. In addition to providing helpful insight into the benefits their system will bring to your company, seasoned providers can advise you on the changes required to get the most out of their system.
Requirement selection Is more essential than ever in B2B e-commerce
E-commerce affects every business, and no industry is immune. According to a McKinsey survey performed in February 2021, 41% of the interviewed CEOs considered the internet the most efficient sales channel. The B2B e-commerce business is expected to be valued at $2.19 trillion by the end of 2020.
Indicators suggest an increase in B2B e-commerce. A shift in client purchase behavior is one of the most revealing signals. Amazon has aided in the consumerization of the B2B purchasing experience, and the COVID-19 outbreak has increased the importance of a seamless digital customer experience by a factor of 100. According to Gartner, customer experience will account for 89 percent of an organization’s future competitiveness.
Producers and distributors compete based on customer satisfaction in today’s competitive industry. Those that haven’t worked out how to stand out in the B2B e-commerce sector should do so quickly.
What is happening with B2B e-commerce?
Monolithic e-commerce platforms, such as Magento, were immediately adopted by B2C fashion enterprises and gained significant popularity in the market. Unsustainable changes were made to B2B e-commerce platforms that were initially developed for B2C e-commerce. As part of their digital transitions, manufacturers and distributors were both digitizing their distribution ties. As the e-commerce sector evolved, monolithic e-commerce platforms like SAP Hybris could no longer grow and match the complexity of modern business models through modification.
Technology advancements have made it simpler for B2B businesses to customize the experiences of their customers. API economies and streamlined tech stacks have a bright future.
Manufacturers and distributors must respond swiftly and carefully to remain relevant with their clients’ consumers. Consider the following:
- RFPs are critical for ERP system search and selection.
- Include you in the process of identifying your requirements.
- It is an internal exercise and discipline for your business to develop your information systems requirements and demands for a new system in great detail throughout the RFP writing process. It’s also the best way to get everyone on the same page and obtain buy-in from all departments in your firm.
In the review of vendor responses to the RFP, it is possible to compare one system to another in terms of functionality, detail investment, implementation method, etc. The RFP process for Value Added Reseller (VAR) ERPs should include comparing VARs’ vital services and experience to verify that they are a good fit for your company. It is not unusual for VARs to work in a range of industries. How, specifically, may their omnichannel experience help our omnichannel client?
Create orderly product demonstrations
In an ideal world, we would like our clients to be more active in the demonstrations than they are. When left to their own devices, vendors laud the benefits of their goods and display their most recent and most remarkable features. However, which characteristics are essential if you’re in the market for a new system? What if the small list of vendors does not appear to meet all of your requirements?
Setting Goals for B2B e-commerce Setting goals for a B2B e-commerce re-platforming venture, which is a significant financial investment, necessitates careful thinking. KPIs must be precisely defined to achieve both short-term and long-term strategic success. Further, both short-term and long-term objectives can be employed. B2B e-commerce strategies have a few common goals:
- Increasing earnings by bringing in new customers.
- expanding the number of customers who utilize your goods or service
- Providing better service to customers
- Assisting with cost-cutting measures
- Reorganization of resources with additional value
- Making the ordering process more efficient
It is vital to persuade senior management that B2B e-commerce requires time to accomplish sales objectives since, as the phrase goes, “Rome was not built in a day.” This methodology for long-term revenue growth was launched by providing leading indicators of client adoption rates, customer happiness ratings, and other KPIs that demonstrate the immediate outcomes of a B2B e-commerce strategy.
To summarize
If you use an RFP and this selection approach to make the most significant application decision possible, your company’s success will be boosted. No system can deliver all of the functionality required by a complex company. An RFP and following research are needed to assess whether a firm is a good fit.