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By 2025, Gartner predicts that 80% of B2B sales interactions will happen via digital channels. Suppliers that can offer the most efficient, seamless eCommerce experience in this environment stand to gain significant competitive advantage. Those who don’t adapt will be left behind.
The undeniable truth is that customers not only want but now expect an integrated digital purchasing experience. Meeting these expectations is no longer optional—it’s essential for success in the evolving B2B marketplace.
B2B Connected Commerce is a key enabler to delivering this experience, and businesses that have invested in it are already reaping benefits such as:
- Increased revenue via eCommerce
- A smoother, more streamlined transaction process
- Stronger relationships with trading partners
- Reduced manual input and errors
Implementing B2B Connected Commerce in your organization is a journey. To begin, it’s essential to assess your current eCommerce capabilities and determine where you stand.
This blog explores how Connected Commerce can transform your B2B digital commerce strategy and offers a checklist to assess your readiness for that next stage.
What is B2B Connected Commerce?
B2B Connected Commerce connects supplier eCommerce systems with buyer eProcurement or ERP systems, automating their interactions throughout the solutions such as PunchOut Catalogs, Purchase Order Automation, Invoice Automation, and other solutions.
It offers a single, unified, strategic integration layer, replacing manual processes and one-to-one system connections with automated solutions that facilitate the seamless flow of purchasing data throughout every step of the buying process.
The value derived from B2B Connected Commerce is influenced by the maturity of a company’s overall eCommerce presence. As eCommerce becomes a primary B2B sales channel and buyers increasingly seek an integrated purchasing experience, Connected Commerce will increase value to more businesses. It is essential for companies to assess their maturity level as they begin their Connected Commerce journey.
A Checklist for Assessing Your B2B Connected Commerce Readiness
Determining your organization’s B2B eCommerce maturity level can be challenging, especially if you’re transitioning from traditional sales to a more digital-led strategy. This checklist offers a starting point for assessing your readiness for Connected Commerce, helping you understand where your business stands and where it needs to grow.
Consider these questions to evaluate your current eCommerce maturity and readiness for the next steps:
- Have you been offering B2B eCommerce for 5+ years?
- Experience with B2B eCommerce is crucial, as it helps you refine processes and understand buyer behaviors over time.
- Do you have a strategic eCommerce platform or solution in place?
- The foundation of your eCommerce efforts should be built on a robust platform designed to scale with your business needs.
- Do you have a solid understanding of the amount of eCommerce revenue you’re generating?
- Insight into your eCommerce performance is key to measuring success and identifying areas for improvement.
- Do you have a dedicated eCommerce team?
- Having a specialized team ensures that your digital strategy is continuously optimized and managed effectively.
- Is B2B eCommerce an initiative with high visibility and support from your executive team?
- Executive buy-in is essential for driving forward long-term eCommerce initiatives and securing the necessary resources.
- Do you know what PunchOut is?
- Understanding PunchOut capabilities is vital for providing a seamless purchasing experience for your buyers.
- Do you have any customers or prospects asking for PunchOut capabilities?
- If so, this indicates a demand for enhanced integration and automation—key factors in Connected Commerce.
Assess Your eCommerce Maturity Today
Understanding your organization’s B2B eCommerce maturity is the first step in planning your journey toward Connected Commerce. While considering key questions about your current capabilities can provide some insight, a more comprehensive analysis is crucial to establish a benchmark and create a clear path for growth.
That’s why TradeCentric has developed an Interactive eCommerce Maturity Benchmark tool. This assessment is designed to help you evaluate your eCommerce maturity level—whether you’re just starting out or already well along the path to digital transformation.
After completing the assessment, you’ll receive a customized maturity level, ranging from “Novice” to “Expert,” along with tailored recommendations for advancing your B2B eCommerce capabilities. These insights will guide you in optimizing your processes, improving integration, and enhancing the overall buyer experience.
From there, TradeCentric is ready to partner with you, offering the solutions and expert guidance you need to maximize the return on your eCommerce investment and take full advantage of Connected Commerce.
