Best B2B Marketplace Platform Software
The rise of B2C marketplaces has created a change in the behaviour of a B2B customer who now wants the same experience with the choice of choosing the products of his need, getting a competitive pricing and a promise of quality.
B2B Marketplace Design solutions for Brands, Manufacturers & Retailers
A business selling to another company is the most crucial part of an economy. Most of the businesses survive and thrive on this model, offering products and services to another business. A B2B model of e-commerce is much more complicated than a B2C model with a need to manage taxation, order quantity restrictions, credit allotments, and many more.
This is the first step of starting a B2B marketplace i.e., getting sellers onboarded so that the marketplace has products that it can sell online. Seller onboarding requires business authentication and verification. It is necessary for a seller to list his business proofs and other supporting documents that authenticate this business's validity during the registration process. Admin can review and validate this information before the activation of the seller account in the system.
Product upload with MOQ's
As a seller account is activated, the system allows them to upload product inventory. They can update the available products adding them one by one or through a bulk upload system available in the admin section. The seller can define a minimum order quantity of product if he wishes to sell them above a certain quantity. He can even set discounts on differential quantity to pass on the benefit of bulk buying to the purchaser.
As the products are uploaded, they are sent to Admin for approvals wherein; the Admin can review the product information before approving them for sale on the platform. Admin can edit, delete, reject, or approve a product as per his requirement. All the products created are connected to categories in the system, which determines the commissions or mark up to be charged on the product as it is sold. As the B2B transaction generates a tax invoice, it is needed by the seller to upload the correct tax percentage according to product classification.
Unlike a B2C business, a B2B marketplace relies on its Buyer's authenticity and needs to ensure buyer validity before starting its transactions. This happens due to high ticket sales to a buyer, tax liability, and credit allocation in some cases. A B2B marketplace software solution provided by Retaxis enables a buyer to register and upload the necessary documents required as proof of his business. Once his registration is submitted, it is onto Admin to review this information and approve the Buyer's account.
Buyer Team structuring & Reporting
As the primary buyer account is approved, the system enables him to create sub-buyers and define their limit and the rights to make a purchase. As the primary Buyer, your customers will be able to create rules to manage a team of sub-buyers with buying powers, indenting rights & a finance manager account to approve indents or view reports.
Credit allocation & Tracking
If you as a Marketplace, Admin wants to allot credit limit for purchases to a buyer and his team. You can do so from the admin panel by providing them wallet Amounts. This amount is assigned to the primary Buyer, who can further distribute it amongst sub-buyers. As the credit amount is allocated, the Admin also defines the period of a credit expiry. Let's say the credit expiry period is 30 days, then any purchases done by the Buyer using the credit wallet will become due for payments in 30 days.
As the buyer account setup is complete, buyers can proceed ahead to the catalog to make purchases. They can view the catalog items placed according to categories, search them according to a keyword or reach them through a link on banners mentioned on the pages. As they view a product of choice to them, they can add them to the cart and proceed to checkout. The items' prices depend on quantities ordered and even follow a minimum order quantity factor for specific products. On checkout, depending on the Buyer permissions, he can either create an indent, make a purchase using his wallet credit or make a purchase using an online mode of payment. The Buyer can see his wallet utilization history at any time in his panel.
As an order is received, it gets automatically broken into sub-orders for each seller who receives an intimation of the same via email or SMS. The sellers can then review the items ordered, confirm it, and ship it to the Buyer. Depending upon the product procurement model, the seller is paid the product price wherein the marketplace earns mark-up or is charged a commission on the successful sale of items by the marketplace.
Product delivery depends on the model of procurement of the product. In case a product is listed on the commissioning model then, a direct invoice is created between the Buyer and seller, wherein the marketplace acts majorly as a facilitator of goods and payments. In case the products are listed on the procurement model, the items are first shipped to the Marketplace warehouse from where they are sent to the Buyer's place of delivery.
The Retaxis B2B solution offers an inbuilt payment tracking mechanism for buyer payments as well as for seller pay-outs. The system supports credit period allocation for both buyer and seller payments. (in case of procurement listings). As the marketplace admin, you can see the wallet summary, purchase history, overdue invoices, or expiring credits for a buyer. The system also enables marketplace admin to fetch the history of orders, payments, and outstanding balances for a seller.
This is an add-on module for your marketplace, allowing you to deploy sales agents in respective geographies for your business. An agent is allotted a list of buyer accounts to service in the region and can be incentivized to execute each successful order from his account. Admin can manage such incentives from his Admin panel itself.
Foot on the street
Foot on the street is an agent of the business with a primary target of acquiring buyer or seller accounts. With the help of a mobile application, they can visit the physical location of a company to generate intent of enrolling in the system as a buyer or as a seller. Enrolled users are shared with the backend team for activation & approvals.
Request for Quotes
A B2B marketplace solution by us can be configured to manage RFQ requests. A buyer can create RFQ's for existing items in the case; they plan to buy quantities in bulk and expect better pricing. Buyers can also create RFQ requests for things that are non-existing on the platform. It can be an RFQ for a requirement he has, which is shared with sellers for estimates leading to an order.
Specific B2B marketplaces work on an auction model, where they list out items, they want to auction on the platform. These auction items are shared with the buyers who can then create bids on the same. These time-based auctions are awarded to the highest bidder upon expiry or upon meeting the target price set by the Admin or seller in the system.
Commission or Mark-ups
Retaxis powered B2B marketplace solution offers you the flexibility of listing items on commissions or mark-ups. As marketplace admin, you can charge commissions when a seller wants to sell items on a just-in-time model. It can also sell items on mark-up if they're going to follow a procurement route hiding all the seller information with the Buyer.
Why start a B2B Marketplace?
Since long when the business came in existence we have been buying and selling goods. The trade has its limitations and boundaries beyond which it becomes difficult to manage and growth becomes stagnant. It is not impossible today to do business beyond boundaries but managing that business efficiently and scaling it needs technology that can support operations and prevents exceptions.
Retaxis powered B2B Marketplace Website Software Solution comes handy by providing you a platform to aggregate vendors, buyers at the same place and managing the selling process effectively.
B2B Ecommerce Software Solution
In this new era of e-commerce evolution the old rules still hold good. Don’t you think that any B2B customer will buy from a B2B marketplace if he gets a huge product selection to choose from, available at competitive prices and an excellent customer service turning himz to be a repeat buyer.
This is where a B2B Ecommerce Software Solution for creating Marketplaces offered by us as an integrated platform comes to help the business owners from various facets of industry to collaborate and do business regardless of geographical boundaries.
The platform acts as a medium between vendors, sellers and buyers to work together over a B2B or a C2C business requirement.
Our Bespoke B2B Marketplace Software Solution offers following feature to you
Easy seller registration, approvals & on-boarding process
Manage teams & departments for smooth b2b operations
Manage B2B sales with taxes automated in the system
Procure items before you sell them on your marketplace
Coupons & Promotions
What all you can do promote your B2B marketplace
To be able to buy you need to be an approved buyer on the Marketplace
Order Quantity Limitations
Order quantity capping for min & max against a product
Order Processing & Split
Manage orders & split them according to multiple vendors that you have in the system
Accounts & Ledgers
Reconcile account & tax ledgers created automatically for sellers & buyers
Reports & Performance
Track performance of your transaction, buyers & sellers
Native mobile apps
Be omnipresent on desktop, laptop, tablets & mobile
B2B Ecommerce Marketplace Business Models
These are models where there is an actual sales or purchase of items with actual financial / trade tractions happening on the platform.
- B2B Product sales with Minimum Order Quantity limitation.
- B2B based procurement & sales channel automation.
- B2B Bidding or Auctioning Systems.
- B2B Listing Solutions with Sales Commissions
Retaxis offers you with solutions for B2B Ecommerce Marketplace Models which can be operated by web as well as mobile users efficiently.
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