Still in its infancy, B2B ecommerce is ramping up not only for brands that see the need to invest in it, but the largest ecommerce platforms are starting to throw their solutions into the ring as well. At this year’s Magento Imagine, Magento officially unveiled their upcoming enterprise B2B solution that will come in the form of a new specialized module. The new tool set will be Magento’s first dedicated solution for the growing B2B market.
Forrester projects that B2B ecommerce sales will account for more than 12 percent of all B2B sales by the year 2020. This will be up from 9 percent just last year, and we will see total sales breaching the $1 trillion mark during this window of time.
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“The dynamics for B2B companies are rapidly changing, due to customers who want the convenient, seamless self-service options that B2C companies have long understood,” stated Magento Senior Vice President of Product and Technology Jason Woosley. “Merchants use Magento to get to market faster and serve both their B2B and B2C customers. We’ve worked directly with B2B companies to build this new offering, incorporating their feedback along the way. The result is a comprehensive and flexible cloud-based commerce suite, leveraging the complete Magento Commerce portfolio, that allows companies to focus on their businesses rather than building vital B2B functionality from scratch.”
B2B Specific Features
Set for a Q3 launch of this year, Magento’s new B2B module will be made available as a free add-on for their existing enterprise customers. The new module will include the following:
- Quick Ordering: Merchants can upload lists of SKUs, use requisition lists, copy previous orders, or speed up recurring purchases with rapid re-orders through quick order interface
- Quotes: A built-in workflow for requesting order quotes and B2B price negotiation
- Multi-Channel Support: Manage multiple e-commerce brands in multiple geographies, including both B2B and B2C portals with custom branding (e.g. the Brentmill demo brand shown in screenshots)
- Corporate Account Management: Customizable corporate structure (including multiple levels of roles and permissions) for B2B enterprise customers plus a payment on credit option
- Back-end Integrations: Application programming interface (API) and extensions to integrate with customer relationship management (CRM), enterprise resource planning (ERP), and other back-end systems.
- Custom Catalogs and Price Lists: Merchants can build custom product catalogs and pricing lists for specific B2B customers or customer groups
Ready to Move to B2B?
If you’re interested in using Magento’s newest B2B module our team can help. Reach out to us here for more information about this solution.