The Secret To Comparing International Trade Platforms

It is a well-established fact that B2B marketplaces connect businesses, enabling them to indulge in significantly profitable transactions as resourcefully as possible. I would even go as far as saying that B2B portals are the ultimate problem-solver for traders worldwide.

Selecting one for collaboration is a challenging endeavor indeed. People assess a B2B international trade platform on the basis of user experience and characteristics. They also consider going over the reviews left behind by others who have had some experience of working with the B2B marketplace being considered.

However, this is not the entire picture, as you will find later that every B2B portal seems to have somewhat similar features, making their comparison even harder. I'll let you in on a secret, i.e., weighing different B2B platforms based on ERP integration. Now that you are all caught up let's begin our discussion.

What Is ERP Integration?

ERP stands for 'Enterprise Resource Planning.' It is a modernized system that helps businesses transform in order to thrive in a technologically advanced world. What began as a way of automating complex administrative functions soon got adopted by enterprises to improve customer experience, boost sales, and execute marketing campaigns effectively.

ERP integration synchronizes the software with various business activities like eCommerce, EDI (Electronic Data Interchange), CRM (Customer Relation Management), etc. It collects data from several areas and presents it in one place to make it easier for everyone to interpret and understand. This boosts efficiency by harmonizing all the important aspects of a business, such as sales, marketing, supply chain, product range, and others.

Companies that aim to expand within the international markets need ERP integration to avoid delays in tasks fulfillment. ERP integration is quite valuable for manufacturers, exporters, wholesalers, and even retailers. It assists in transferring useful information to the prospective buyers, saving a great amount of their precious time.

Here's A Helpful Tip…

There's no doubt that a certain ERP configuration can be used for a temporary period since the requirements of a business change as a result of growth and development. There are B2B international trade platforms that employ an arbitrator company to perform ERP integration. This is not favorable as it can be challenging to make all the required changes to the software in the future. Hence, make sure to avoid selecting such portals.

You need to confirm the competency of a B2B platform's ERP integration through research. Why? In the event it fails to deliver as promised, your clientele may suffer. Any problems with ERP integration puts your business at a higher risk of losing customers to the competition.

A lot of CEOs and executives who wish to become a part of B2B eCommerce are still unaware of the significance of ERP integration in attaining their goals and objectives.

What Are The Features Of Top B2B eCommerce Platforms?

While some people may already know the unique characteristics possessed by renowned B2B portals, many could still be in the dark. Let's discuss the attributes of some of the globally recognized B2B firms operating as pivotal parts of the eCommerce sector;

• International trade platforms, including Alibaba.com and TradeWheel.com, work through an online website as well as a smartphone application. You can register as a seller or buyer via any of these options from anywhere in the world.

• What makes working with a leading B2B platform like GlobalSources highly resourceful is that all dealings are concluded over the World Wide Web. Neither the sellers nor the buyers need to travel overseas to finalize fruitful agreements.

• Experts and professionals associated with such eCommerce trade platforms are capable of giving your business a digital makeover. This includes creating an exclusive website for effective interaction with potential customers, utilizing social media marketing, and boosting your company's web presence by implementing various strategies.

• Speaking of strategies, the marketing campaigns to promote businesses carried out by B2B platforms are pretty impressive. They work according to specific buyer personas created after studying the prospects thoroughly. It makes the entire process efficient as the leads that come in are from prospective buyers who are expected to place sizeable orders after making a few necessary inquiries.

• In case your business lacks a fully qualified sales team, B2B associates can step in to close deals effectively. They can negotiate the terms of an agreement on your behalf while mediating any meetings if you prefer. Taking assistance from a team trained to secure leads permanently will undoubtedly prove beneficial in the short and long run.

• B2B platforms offer you an opportunity to connect with suppliers and buyers globally. This means you can come across a procurer or seller who does not understand your language. In such cases, you do not need to worry as B2B portals have teams of individuals capable of communicating in multiple languages. This ultimately contributes to removing any misunderstanding between traders.

• B2B eCommerce operates without restrictions on borders and time zones. It is a digitalized platform that remains functional 24/7, allowing businesses to enjoy increased short and long-term returns. In addition to this, such an international trading platform caters to the need of every industry, making zero exceptions.

It goes without saying that every quality of B2B portals discussed above proves highly convenient in cutting down costs and maximizing revenues. Although, you will find that nearly every platform has these features. You can easily get confused while debating about the supremacy of one B2B space over another. This is why taking a platform's ERP integration architecture into account is needed. Otherwise, it would be like shooting an arrow in the dark, not knowing whether it will hit the bullseye.

Why Does Your Business Require ERP Integration?

The level of ERP integration embedded within a company's day-to-day activities ultimately determines the satisfaction of its customers. Similarly, some companies require extensive ERP integration, while others work fine with a basic one.

What does your business need? This can be concluded by seeing if your business intends to utilize any of the factors mentioned below;

• Variable pricing specific to customers
• History and current status of the customers' orders
• Instant online payment options
• Availability of inventory specific to customers' orders
• Error messaging to let customers place detailed orders in a relevant manner
• Credit status of the customers
• Quick order posting to the ERP to ensure successful and prioritized fulfillment of every client's request
• Credit status of the customers
• There is also an option called credit block which basically keeps others from accessing credit reports of customers. It prevents fraudulent activities as scammers often post orders on behalf of credit customers whose information is available.

If you wish to provide these features to your target market to enhance customer experience, evaluate a B2B eCommerce the platform's ERP integration architecture accordingly. Choosing a well-managed B2B portal that has a real-time ERP integration system is advisable if you plan to expand your operations in multiple parts of the world eventually. Such mechanisms cover all aspects of B2B eCommerce a business needs to thrive within the international markets efficiently.

Let's Discuss The Benefits Of ERP Integration

It is time to talk about the advantages of working with a B2B international trade platform that gives you access to an ideally built ERP integration system. Here's what you need to realize;

• ERP eliminates the need for manual data entry that can take up a lot of time.
• It gathers information from various departments and presents it in one place, increasing accessibility to a great extent.
• ERP systems integrated with business applications like CRM, sales, etc., keeps updated data at all times.
• Individuals, regardless of their department, can access the omnichannel to view information and complete their duties accordingly. For example, the inventory management team can keep an accurate record of products enlisted on an eCommerce website and take adequate actions before there is a shortage.
• Employees can refer to the information available in the ERP software if there are any discrepancies.
• Needless to say, automation contributes to reducing human error, which inevitably boosts the accuracy of operations.
• ·These perks enable your prospective customers to have a seamless experience. They can learn all the necessary information about your products and make purchasing decisions without any delays.
• A smooth experience means more website visitors are placing orders and becoming a part of your diverse clientele.

Everything a business does is to satisfy its clients in order to retain them while enjoying profits. Hence, choose an eCommerce international trade platform that gives you access to a perfect ERP integration system. It is safe to say that turning leads into sales is the actual game changer for a business enlisted on a B2B platform instead of just attracting prospective buyers.

Final Words

The next time you talk to a B2B platform's representatives, try to figure out the competency of its ERP integration system by asking the right questions. It is better to ask for a clearly laid out plan before becoming a paid member of a digital B2B space. Keep the features a secondary priority and compare B2B firms on the basis of ERP integration systems.

Research suggests that up to 67% of businesses succeed due to correct ERP implementation, which is certainly incredible. Working with a B2B platform that follows such methods exposes your business to minimized uncertainties while guaranteeing commendable outcomes.