B2B ecommerce market benefits for Organisations raping
B2B ecommerce market is set generate $6.7 trillion in revenue by 2020. To get in on the revenue stream, suppliers across the globe are investing more and more into developing their digital B2B ecommerce market capabilities. So far, the initial investments have generated benefits for 99% of organisations studied, research shows. The top priority moving forward is getting further IT systems to meet customer demand, through investment in cloud-based services, ecommerce platforms and mobile applications, among others.
A report from Frost & Sullivan puts the B2B (business to business) ecommerce network on track to generate $6.7 trillion in revenue by 2020. Given the value of capturing even a small piece of the projected $6.7 trillion pie, competition has been heating up, as many B2B ecommerce market decision makers are recognising that the race to be number one has well and truly started.
To understand the impact of digital B2B commerce and how players are tapping into the market, Vanson Bourne conducted a study into key trends and developments. The study was commissioned by Intershop, and involved 400 e-commerce decision makers across the UK, US, France, Germany, Scandinavia and the Benelux.
Digital B2B ecommerce market payoff
The study shows that almost every organisation (99%) taking part in the study is currently seeing their digital B2B channel delivering at least one benefit. The highest cited benefit (by 54% of respondents) is that digitalisation allows their organisations to reach customers that would not buy from their organisation before. For 46% of those surveyed, B2B digitalisation allows the organisation to generate more total sales and more sales per rep, while for 41% of organisations the payoff comes from providing fast access to relevant information.
Top priorities going forward (B2B ecommerce market)
The survey highlights that, in terms of investment priorities, surveyed companies have already (in the past 12 months) invested in cloud based services (62%), e-commerce platforms (48%) and mobile applications (47%). These three categories are also the areas in which more of the surveyed organisations plan to invest in the near future.[Read more…]