Creating a high-quality, user-friendly platform has never been easier with the rise of B2B e-commerce in India. You can have a bilingual website with a powerful search engine, detailed product descriptions, interactive help, how-to videos, and a variety of payment options. It will save both time and money for your company while also improving sales.
Businesses that want to provide a modern purchasing process that is mobile, transparent, cost-effective, intelligent, and simple to use for both buyers and suppliers should use a B2B portal for import export.
STACK OF B2B MARKETPLACES IN INDIA
The four functions that make up a B2B marketplace stack are as follows:
CURATING THE SUPPLIERS
Credentialing is critical in B2B transactions, because buyers may be taking a substantial economic risk by trying out a new supplier and need assurance that all B2B marketplaces for buyers and suppliers are capable of delivering the best quality.
It\'s all about making it as simple as possible for a buyer to find what they are searching for on a B2B portal in India in a few clicks.
When a B2B marketplace for buyers and sellers reaches a certain size, it can use its market power to get better prices for its customers. This is especially true for B2B marketplaces in India, which can combine multiple small orders from various buyers into a single huge order.
FACILITATING THE TRANSACTION
Every B2B marketplace in India is built on the concept of linking demand and supply and supporting them in transacting at the lowest possible cost. The demand and supply sides can be matched in three ways, depending on the marketplace characteristics: double commit, buyer-pick, and marketplace-picks.
Allowing payments on your B2B marketplaces in India is one of the most effective ways to reduce the risk of leakage. Due to significant transaction volumes, credit card payments are frequently unavailable online. As a result, many B2B portals in India must let their customers pay through invoice while simultaneously managing the often-complex collection process. They typically need to find ways to manage credit risk and liquidity stress for suppliers that are not paid on time due to lengthy payment terms.
Any activities that must be completed after an order has been placed, such as checking the availability of products in stock, providing the buyer with an invoice, and organising the final compliance checks, are referred to as Transaction Admin.
SUPPORTING THE FULFILMENT
The services include warehousing, packing, customs handling, inspection services, shipping, and returns processing. It\'s a feature that some Indian B2B marketplaces have incorporated into their platforms.
It refers to all of the services provided by a B2B marketplace in India after a product or service has been purchased.
Conflicts are unavoidable when B2B marketplaces for buyers and providers reach a certain size. It could be as a result of a buyer becoming bankrupt and being unable to pay, products being damaged, or an operational error. In other cases, dishonest players may be to blame, such as buyers who say their products haven\'t arrived or who never planned to pay for them.
PROVIDING VALUE-ADDED SERVICES
As B2B marketplaces in India grow, they accumulate vast amounts of data, which may be repackaged to promote openness among marketplace participants or sold for profit.
The majority of B2B marketplaces for buyers and sellers today have embedded software that goes beyond simple demand and supplier matching. They can be utilized as a software as a service (SaaS) solution.
