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Powering B2B Innovation: The Game-Changing Role of Payment Technologies

global trade payment

Powering B2B Innovation: The Game-Changing Role of Payment Technologies

Money is undergoing a sea change with the ubiquity of online commerce and the persistent march forward of digital technologies. Thanks to the Internet, e-commerce transactions at every level have exploded, resulting in a need for straightforward transaction processes that work for both sellers and buyers. Business owners need to be aware of partners’ and customers’ needs. Speed, reliability, and security all need to be considered. 

Read also: The Silent War: Banks vs. Fraudsters in the Era of Instant Payments and Opportunities

What Does B2B Payment Processing Entail? 

We’ve come a long way from the era when businesses settled invoices with physical checks that the recipient would deposit into their bank account. Today’s transactions involve numerous components, which can vary based on the industry and the specifics of the exchange. However, every transaction shares a few fundamental elements.

  • The seller or merchant. 
  • The merchant’s bank or payment processing service.
  • The customer.
  • Payment gateways.
  • Payment processors.

Sometimes, the seller and customer may use the same payment processing solutions; at times they will be different. Either way, any payment technology has to work seamlessly to cover the entire transaction. 

Payment Gateways and Processors

Payment gateways and payment processors are the two main components of transactions. A service like PayPal may serve both functions. A payment gateway is where consumers will input their financial information. By contrast, a payment processor conveys the payment particulars to the bank or service that handles the transaction. 

Innovations in Payment Processing

E-commerce’s quick rise makes firms face both new opportunities and threats. Punctual, accurate, and secure is what are wanted more than anything. These are some of the most impressive advancements in payment processing.

Faster and More Convenient Options

Modern payment gateways serve as a safe and quick mechanism to complete transactions. Customers no longer have to type in credit card details. Services such as PayPal, Stripe, and Square allow for one-click purchases. They are also not limited to online transactions; one can use a digital wallet for in-store payments as well. Furthermore, these instruments make issuing invoices for B2B transactions very convenient. 

Mobile Wallets For B2B Transactions

Digital wallets are commonly used for consumer transactions, such as a customer using Apple Pay to buy a cup of coffee or something in a grocery store. Nonetheless, businesses are adopting this technology as well. Mobile wallets give businesses more agility when buying and selling. The convenience of paying from their phones appeals to business owners and employees, who might purchase items out of the office.  

The Use of AI Tools

Artificial intelligence is increasingly used to make payment processing more efficient and secure. AI can help in several ways.

  • Speeds up transactions.
  • Consumer analytics can predict trends. 
  • Enhances security and fraud detection.
  • Lowers operational costs. 

Real-Time Payments

We are quickly moving past the days of waiting several business days for a check to clear. Payment processing keeps getting faster, and there are now options for instant payments. RTP, or Real-Time Payments, is a network that allows instant bank transactions. While now only used by about 25 banks in the US, RTP, and similar networks are likely to grow in the future. 

Blockchain in Payment Processing

In 2024, Bitcoin and other cryptocurrencies became a lot more mainstream. Blockchain technology has many other potential uses, including the potential to transform payment processing. This technology can speed up transactions and make them more secure. Blockchain can be especially beneficial for global payments. Currently, payment processing is often slowed down when companies use different banks in different countries. With blockchain technology, transactions can be instantly verified without the need for banks.  

Top Concerns to Find the Best Payment Solution

The way you handle payments is a critical aspect of your business. You need solutions that are convenient, affordable, and secure. Here are some of the main points to consider when comparing payment processing solutions. 

Flexible Features

You want a solution that makes it convenient to process payments. Features to look for include the following. 

  • Supports a variety of uses and industries, with both online and offline payment options. For example, for brick-and-mortar businesses, look for contactless payment solutions. 
  • Works with multiple payment options. Aside from credit cards, you may want to offer online check processing, including eCheck and ACH direct deposits. 
  • Offers protection against fraud and chargebacks.
  • Lets you see analytics. Identify trends such as seasonal fluctuations and how you are doing compared to competitors. 
  • Scalable. Supports your current needs and works with you as your business grows. 

Cost

Understanding the actual cost of using a payment processing service can be tricky. They often spread charges to different areas of your bill. You need to look carefully at all extra charges and how this will affect the total cost.

User-Friendliness and Customer Service

Every service is a little different, and many offer various features. There’s often a learning curve for making the best use of payment processing services. Choosing a company that makes the features easy to use is best. You also want to be able to contact knowledgeable customer service representatives when needed. 

Security

You must make security a priority. A data breach can be catastrophic for your business, and customers need to feel confident that they can do business with you. Look closely at the security protocols used by a provider and check their track record for security as well.

Integrations

It’s convenient to use a payment processor that works seamlessly with other software you use, such as business management software. Integrations not only help you maximize productivity, but they can also provide valuable analytics. For example, your payment processing service may also track customer trends to help you increase conversions.  

Payment Technology is Quickly Evolving

Numerous innovations in payment processing are on the horizon, especially in areas like artificial intelligence and blockchain. Various industries are adopting new working conditions that require equally flexible monetary solutions. The rise of remote work has created a demand for purchases from office environments. Staying updated on all the latest developments allows one to find the most effective tools and services available.

logistics descartes global trade airlink buyers

10 Best Sites to Find International Buyers Online

To expand your business and achieve a new level of success, or to get one step ahead of existing competitors, you can expand globally with international buyers and exporters interested in trading with you. 

Read also: Top 10 Best Online B2B Marketplaces In 2025 

Finding buyers internationally may seem challenging due to the number of competitors. However, if you are guided properly, you can meet many genuine buyers and exporters who will introduce your business to their market and audiences to make it global. We have provided the top 10 global b2b marketplaces through which you can connect with genuine international buyers and exporters for your business.

10 Best B2B Platforms to Find International Buyers for Export

Here’s a list of top b2b marketplaces to find international buyers and exporters for successful business expansion:

B2B Platform Specification Rating (out of 5)
Alibaba Largest global B2B marketplace connecting various industries. 4.8
Tradewheel.com Fast-growing B2B platform with a vast global network. 4.5
Global Sources Trusted platform for electronics and consumer goods trading. 4.7
Made-in-China Focuses on Chinese suppliers and global buyer connections. 4.6
EC21 South Korea-based B2B site for machinery and electronics. 4.4
Volza Streamlined platform connecting exporters with global buyers. 4.3
ThomasNet Industrial-focused platform with a strong North American network. 4.6
IndiaMART Leading Indian B2B marketplace catering to international buyers. 4.5
EuroPages European B2B platform connecting businesses across the EU. 4.2
DHgate Chinese platform linking suppliers with buyers for consumer goods. 4.4

 

1. Alibaba.com

It is one of the biggest buyers and sellers’ directories through which you can go global. Alibaba.com is the biggest place to find buyers for your international business. The websites receive millions of buyers daily who are in need of a supplier who can provide bulk quantities of products, be responsive, and offer great affordable prices. 

If you are taking the initial steps to enter the international market online, you must create an account in this b2b market giant and become a part of the growing community. Get a chance to sell your items to international buyers and exporters on your terms and conditions and secure a verified tag from the website owners for being credible and honest.

2. Tradewheel.com

Tradewheel.com can help you find export businesses to find international buyers. This platform makes it buying and selling quick and simple for companies. Sellers can list their products and set up their virtual shop on Tradewheel.com with ease.

It is due to the simple user interface that is designed specifically for your ease. You can get genuine international buyers’ leads every day, even during high competition and saturation. You can visit the RFQ pages, understand the buyer’s point of view, and eventually update your product listing. 

3. Global Sources

Global Sources is another globally recognized b2b marketplace for finding buyers for export businesses. It originated in Hong Kong, China, but it has a network of globally renowned business wholesalers from all over the world looking for market buyers. It is a multi-channel platform with a very innovative user module that gets updated after some time to maximize customer satisfaction. 

Users can explore the platform and sign in with a business account to create a virtual shop and list their products. Global buyers from China will start approaching you as soon as you list your products. You can increase the chances of getting orders from international buyers by giving them the perks and benefits of easy product delivery.

4. Made-in-China

Made-In-China will increase your business circle and help you find the best distributors in China who will buy from you and sell it for some commission. Made-In-China is a wholesale trading platform based on Chinese suppliers and distributors. They have been working to boost their economy by engaging in regional trade. However, anyone can buy from the platform. You can place your queries regarding finding the exporters in a high filter search bar, and web smart filters will do the rest for you. 

You can also select exporters for your business by checking their ratings and experiences and reading about them before making a connection. This way, you will know that you are investing your time and money in the right place. 

5. Volza

Volza is a powerful B2B platform designed for finding international buyers and exporters across a wide range of industries. Here, you can get detailed insights into global trade data, allowing users to search for suppliers, buyers, and their shipment histories. You can maximize the results by utilizing advanced filters and narrow down results based on specific products, countries, and trade volumes. 

Volza’s user-friendly interface makes it easy to identify potential export partners and analyze market trends. With access to a vast database of verified businesses, Volza is an incredible tool for companies looking to expand their international trade opportunities effectively.

6. ThomasNet

Planning to expand your business in the USA? You can find exporters in the USA through ThomasNet. It is an online wholesale b2b directory where you can buy and sell products to exporters. The USA is a massive consumer and industrial goods market and probably one of the best places to begin your global business journey. 

Apart from that, through ThomasNet, you can get into the ever-growing US market, which is highly innovative and is taking a lot of opportunities for growth and expansion for your business. The market has yet to be saturated, and there is still much potential for newcomers. 

7. IndiaMART

IndiaMART is an online b2b platform from India where you can find international buyers in India. It is the world’s growing economy that has a high scope for market entry. You can join the platform to find exporters of your business. 

The platform has been serving for 28 years of excellence, providing easy sourcing opportunities to wholesalers around the world. You can connect with Indian wholesalers who have a high potential to take your business to the next level of success. 

8. EuroPages

EuroPages is a B2B platform that connects European exporters with international buyers across various industries. To find exporters or buyers, simply search for specific products or suppliers and filter results by country, industry, or business activity. EuroPages offers detailed company profiles, allowing you to assess suppliers’ credibility, certifications, and export capabilities. 

As a Europe-focused platform, it’s particularly useful for industries like manufacturing, machinery, and food products. You can register your business for free and browse the directory. You will also have a chance to connect directly to exporters or buyers to initiate deals.

9. DHgate

DHgate is a China-based B2B platform that connects small and medium-sized businesses with international buyers, focusing mainly on consumer goods like electronics, apparel, and home products. To find exporters, simply enter your product category into the search bar, then refine your results using filters such as minimum order quantities, price, and shipping options.

Apart from a comprehensive product directory, DHgate offers secure payment methods and buyer protection programs, ensuring a safe transaction experience. For exporters, DHgate provides access to a global market and tools to promote their products to international buyers.

10. EC21

EC21, based in South Korea, is a B2B marketplace primarily catering to industrial, electronic, and machinery sectors. You can browse by product category or use the search function to filter and find international buyers or exporters. EC21 offers various membership levels, providing verified exporter status for reliable transactions. 

The platform’s focus on high-demand industries, such as electronics, chemicals, and machinery, makes it an ideal space to connect with qualified buyers and sellers from around the world.

The Major Advantages of Entering the Export Market

Business expansion and growth has several advantages. Here are some of the top advantages that you will achieve after starting to expand your business internationally:

1. Economies of Scale

Introducing your business to international buyers will allow you to manufacture more product inventory that will reduce the per-unit cost of production. The more the number of buyers increases the more production will increase. 

2. Learning and Innovation

Growing globally will help in learning about the global demand. You will learn various patterns of consumer behaviors and their purchasing and money-spending habits and dynamics on certain products. Each region will help you to innovate your products and services which is highly beneficial in terms of business. 

3. Government Incentives

When you start exporting your products to the international market, you are actually contributing to the economy of the country you are living in. Higher exports will benefit the economy and the government often provides great incentives and concessions to companies who increase their exports. It is a great chance to avail government services and incentives altogether. 

4. Enhanced Brand Visibility

More people will know about your business. It is a great way to enhance brand visibility with a wider audience and allow them to know your business better. It will eventually increase your goodwill and brand recognition. 

5. High Profit Margin

Eventually, when thinking about finding buyers internationally, it will increase the chances of expenses and revenue. It will be costly initially but will provide a high-profit margin once you successfully enter the market.   

Summary

In the end, we can conclude that aiming for going global and finding international buyers requires a lot of strategies, planning and correct execution. However, the easiest and most convenient way of finding global buyers is to go through the above-mentioned top 10 b2b websites, where millions of wholesalers and retailers are giving their services to businesses that aim to expand. It is an excellent opportunity to find global buyers that, as compared to other ways, is cost-effective, easy, and provides immediate results. 

 

From Execution to Insight: How Fintech is Shaping the Future of Accounts Payable churn global trade market

Why Strategic Churn Is Good for Your Bottom Line 

If you have a subscription-based business, a concept that may seem counterintuitive at first glance is strategic churn. Losing hard-won customers is something that we try to avoid at all costs. Yet, for many savvy subscription leaders, strategic churn, or the intentional loss of poor-fit subscribers who drag down overall customer satisfaction, gross margins, and product development velocity, has become a crucial strategy for increasing the bottom line and ensuring long-term viability in a market that’s undergone a whiplash-level pivot from growth at all costs to growing efficiently.

Read also: Revolutionizing Fintech: The Integration of AI in ERP Systems

According to recent data from Chargebee’s 2024 State of Subscriptions and Revenue Growth report, a staggering 73% of subscription businesses are raising prices in 2024—a significant uptick from the previous year’s 62%. What’s more intriguing is the willingness of these businesses to accept substantial churn rates of 20% or more of their customer base in pursuit of greater profitability and sustainability. But done right, this strategy of increasing prices, ideally in conjunction with releasing product and service enhancements that appeal to the core loyalists who are willing to pay more for a more valuable service, helps separate the wheat from the chaff. 

Higher paying customers drive higher annual recurring revenue (ARR) per customer, higher customer lifetime value (CLV), and are stickier with more predictable retention rates. Alternatively, price-sensitive customers who are less willing to pay are often those who submit a disproportionately high number of support cases, request expensive returns or process chargebacks, are more prone to posting negative reviews online, and have a higher propensity to voluntarily cancel (“strategic churn”).

In my recent discussions with B2B and B2C subscription growth leaders, we’ve discussed the rationale behind embracing strategic churn at length. Across industries, from SaaS platforms to content streaming services, the consensus is clear: sacrificing short-term numbers for long-term gains is a strategic opportunity.

Let’s look at why strategic churn is emerging as a powerful tactic for subscription companies to optimize customer lifetime value (CLTV), drive net revenue retention (NRR), and achieve positive cash flow, all while fostering deeper relationships with their most valuable customers.

Prioritizing value over volume

One of the fundamental principles driving strategic churn is the recognition that not all customers are created equal. While acquiring new customers is essential for growth, retaining those who value your product or service is equally—if not more—important. By focusing on quality over quantity, subscription companies can tailor their offerings to cater to the needs of their most loyal and high-value customers.

Some butter is better than no butter

Butternut Box, a leading UK-based fresh dog food subscription box, recently experienced strategic churn when it decided to make a calculated bet on raising prices in three step-up phases between 2022 and 2023. The decision to raise prices was motivated by a variety of factors ranging from a 30-40% increase in the cost of lamb and beef to supply chain challenges due to new factory construction and the need to become profitable as a company. It used the pricing changes to shift into a value-based pricing model from its previous cost-plus model and worked with third-party pricing consultants to run surveys to develop psychological price barriers. The company then rolled out its pricing increases in phases, beginning with new customers and continuing with existing customers. 

Butternut Box carefully monitored its churn during this time. It implemented targeted campaigns aimed at customers who were dissatisfied with the new prices, offering personalized win-back messages and adjusting plans to retain them. This included tools to review and adjust their subscriptions, such as removing additional products or switching to surcharge recipes. Additionally, Butternut Box improved the pause/cancel experience by allowing customers to modify their plans online instead of calling. The philosophy that “some butter is better than no butter” guided them to offer flexible options to retain customers who were considering downgrading rather than canceling entirely. Incredibly, neither acquisition rates nor CPAs suffered through the change.

The results? Butternut Box significantly increased Customer Lifetime Value (CLTV) while maintaining stable gross retention and exponentially improved its CAC: LTV ratio. Butternut Box proves that even in customer-obsessed businesses like itself, strategic churn results in a more sustainable business, which is better for customers.

Switching to usage-based pricing was a win for Livestorm

 

Another interesting example is Livestorm, a B2B SaaS vendor. Livestorm was among the first in the video conferencing industry to switch pricing from license-based to usage-based. Livestorm managed to transition most of its customers from 70% paying fixed monthly fees to 80% paying for usage in less than a year. What’s extraordinary is that it doubled its average revenue per account and tripled its lifetime value. Along the way, a meaningful proportion of the legacy customers opted against shifting to usage pricing (strategic churn) – freeing up Livestorm to accelerate development and better serve its more valuable customers – while overall revenue increased.

Embracing the strategic churn journey

Embracing strategic churn requires a shift in mindset—from focusing solely on short-term sales acquisition rates to prioritizing long-term sustainability and customer lifetime value. It’s about understanding that not every customer is meant to stay forever and letting go of those who no longer align with your strategic objectives. 80% of consumers are more likely to purchase a new subscription that allows them to cancel online (2021 State of Retention Industry). Remember, by making it easy for customers to cancel and offering a positive experience, you increase the likelihood of them returning. This could happen if they realize the value of your product or service, if you introduce new features they desire, or if their circumstances change.

By proactively managing churn and nurturing relationships with high-value customers, you can unlock new opportunities for growth, innovation, and market leadership. In an era of relentless disruption and fierce competition, embracing strategic churn and subscriptions can be a powerful revenue growth tactic. 

Conclusion

Strategic churn represents an opportunity for growth you may not have considered until now. By raising prices and/or adjusting your model, you can improve your product appeal more quickly to your most committed customers. By prioritizing value over volume, embracing customer-centricity, and learning from real-life success stories, you can harness the power of strategic churn to drive sustainable growth, increase profitability, and chart a course toward long-term success.

About the author:

Guy Marion, Chargebee’s Chief Marketing Officer, leverages over 15 years of strategic marketing and leadership to drive SaaS growth. Before joining Chargebee, Marion was CEO and Founder of Brightback, now Chargebee Retention. At Chargebee, he spearheads the go-to-market strategy, increases brand awareness, and drives customer acquisition. In his free time, he enjoys spending time with his family, boating on the San Francisco Bay, and contributing to the startup ecosystem.

Chargebee is the leading Revenue Growth Management (RGM) platform for subscription businesses. 

 

B2B

B2B Customer Behavior is Changing. What Should Marketers Do?

If there’s anything the last decade has taught us—and that the COVID-19 pandemic punctuated in grand fashion—it’s that businesses must get digital, or they may become invisible. Branding—once an exercise that involved plastic signs, billboards, and newspaper print ads—has now firmly taken up residence in the world of bits, bites, smartphones, wearables, and, occasionally, a desktop computer.

The digital transformation—already fully ensconced when we dropped the ball in 2020—picked up considerable steam in the last year or so. Today, forward momentum in the digital strata is not just required—but mandatory—to assure business growth, especially in the B2B arena.

Customer behavior is changing

About 15 years ago, the one-two punch of social media and email campaigns entered the picture – and established a new method of showcasing your expertise as a means of getting people to look in your direction. Post Covid-19, a McKinsey study on B2B buyer preference showed how much of each phase of the buyer’s journey is being done online in a self-service way. The punch line: there has been a dramatic change in consumer behavior over the past 3 years.

In the research/education phase, there has been an 85% increase in the preference for B2B buyers to conduct their research online. In the evaluation stage, the results are even more dramatic: a whopping 238% increase in buyer preference for self-serve looking for information on the companies’ website.

The implications for a B2B marketer are huge. Now they must literally compete online, providing the information for which buyers are looking, and they need a comprehensive content strategy to win.

Learn how customers want to interact online

What the past decade taught us—and what COVID reiterated in the past couple years—is that the conversation around digital goes far beyond just plain awareness. In fact, the businesses that are the best at digital branding have constructed a lead generation machine around these capabilities. They’ve taken the knowledge of clients’ needs and wants and translated it into an incubation device that effectively appeals to this group.

So, what are some of the ways that you can change the thinking within your business to improve the success of your digital branding efforts? Here are four critical elements every marketer should master:

#1 Know The Decision Makers

In B2B in particular, you’ll often find multiple decision-makers involved in the buying process. That’s OK. This simply means  we have to appeal to each of their “decision journeys.” We have to understand their challenges and obstacles, whether they are a CFO or an engineer, etc. Invariably, they will have different selection criteria, success metrics, and the like.

#2 The “Amazon” Effect

With so much buying activity across the digital space during COVID, a remarkable thing has happened. Now, even B2B buyers want the same type of information and transparency in their professional lives as they get when they make personal purchases from Amazon. These buyers give a thumbs-up to live chat and clear, concise information; and a thumbs-down to having to dig for information, deal with technical issues, and to overly complex websites.

#3 Big M, Little m

It’s time to draw a solid, unbroken, line in the sand. Marketing today—with a capital M—relates to what we’ve mentioned here: real insights and strategies that will drive new business and grow your company. No longer is it satisfactory to lean on “little m” tactics, like pretty pictures that look gorgeous but say nothing.

#4 Marketers: The Business Development Rep’s Best Friend

No longer should marketers consider themselves an ancillary resource to more sales-oriented folk; they should take hands-on responsibility to ensure that their activities drive as many qualified leads to business development as possible. As important is to be in close coordination with business development so the leads that come in get the attention they deserve! Research shows that up to half of sales go to the partner or vendor that responds first. In the past, we’ve done a great job, as marketers, of saying we are experts, but then throwing the ball over the fence to business development. That’s an old way of doing things; now, we should be aligned and attached at the hip as we jointly journey further and further into the funnel. This includes being aligned on the funnel metrics that are used to measure efficacy and success.

Bottom Line

Time is of the absolute essence in today’s marketplace, and you must find that extra gear to operate your digital branding machine.  When you decide to turn on your digital machine, you need to know exactly what you’re looking for and to be ready to respond.

So, how is your company’s digital brand presence? Are you relevant or invisible? If you want to know, a digital audit—to see how your company stacks versus the competition—is a great place to start, and we are ready to help you.

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Adriana Lynch is a Partner and CMO with Chief Outsiders, the nation’s fastest-growing executive-as-a-service company.

manufacturing companies

Three Surprising Ways Marketing Can Solve Manufacturers’ 2022 Challenges

Manufacturing businesses small and large have had their hands full with the fall-out of the pandemic, and while it seems the worst of the crisis is now behind us, companies will continue to grapple with how to keep both customers and employees on board despite supply chain issues, intense competition, and labor shortages.

What’s sometimes overlooked is that the marketing function can help solve three of manufacturers’ biggest challenges in 2022—if the C-suite doesn’t limit marketing’s role to lead generation.

Here are three ways marketers can help manufacturing businesses navigate the many disruptions they will continue to face next year, in ways that extend far beyond product promotion.

Supply Chain Related Communications

Up until this year, the markets were very rarely rocked by supply chain disruptions. The Wall Street Journal did not even have a logistics beat in the last few decades. In 2021, everything changed when COVID-19 caused labor shortages, disrupting the supply chain of a vast amount of finished products and base materials—just when demand for manufactured goods surged.

So how should companies communicate about delayed or canceled deliveries to their customers? One way is for marketers to segment the client database and then decide how the different tiers need to be serviced. When demand outweighs supply, choices need to be made on who will receive what, when. One useful approach is to distinguish between client segments based on profitability and potential. For each segment, decide how various customers and customer types will be prioritized. Include a comprehensive plan on how client communication will look across all channels.

Another way marketers can help companies navigate through supply chain issues is by deciding to not manage supply, but rather to manage demand. This can be done through turning down the promotional activities for a series of products that are running short or use targeted price increases to affect demand.

Customers can and will understand more than some managers may expect, but they need sensible and consistent information. For information to make sense, it needs to be based on a coherent and methodical approach to client service in a disrupted market. Customers time and again have expressed appreciation for timely communication even with “bad news” as it helps them with plans and projections.

Value Proposition

Manufacturing companies pride themselves on their legacy and track record. Claims regarding longevity and past success have a place in marketing communications. But having served your customers for many decades with products that work, is table stakes, and not something companies can use as meaningful differentiators or the basis for building customer preference.

Many businesses can still make a lot of progress in differentiating themselves successfully through a better understanding of what it is that their customers value. Insights gained through a customer survey or set of interviews (AKA Voice of Customer or VoC), as well as through consultations with sales and customer service about how purchase decisions are made, who makes and who influences those decisions and what features are important, are vital inputs for messaging that will resonate with the prospect. These insights are invaluable to company messaging and differentiation. Marketers are trained to facilitate these conversations, collect and analyze the data, and then develop and communicate a value proposition that credibly differentiates a company from its competitors.

Another category of differentiators pertains to purpose where marketers can help tell the unique origin story of the company and convey a message on purpose that extends far beyond specific product features.

Purposeful Employee Engagement

Branding is not just an external exercise. A company’s internal brand is at least as important. Defining the value proposition for employees is often overlooked and undervalued. This leads to turnover and poor retention, and hinders employee recruiting. Studies consistently show the high costs associated with onboarding and training new employees.

In many manufacturing companies, the HR function may not be well equipped to manage the complexities of employee engagement that businesses currently face. There is a part of the workforce (the white-collar one) that will work remotely, so that needs to be managed in terms of making sure people stay productive but also engaged with the brand. Marketing can especially help with the latter. With remote working more prevalent than ever, it is important for employees to understand the company’s brand promise and each employee’s role in helping to fulfill that promise.

With a labor shortage in the manufacturing sector, employees can demand more from their employers than they have in the last few decades. For some, the pecuniary aspect will be important, others will prioritize flexibility. Accommodating this is either costly (the first) or impossible to achieve for blue-collar workers (the latter). There is, however, something else to which many employees attach great value, and that can be achieved at no cost—a sense of purpose. Just as with a VoC program, a Voice of Employee (VoE) program can help employers better understand what will motivate and incentivize their associates.

Employees want to know and feel they are contributing in a meaningful way to producing a product or service that helps customers solve important problems. Marketing can help develop and implement purposeful employee communication which will help not only retain employees, but also attract new talent.

Bottom Line

Manufacturing companies will continue to have their hands full managing the fall-out of an unprecedented health crisis. They will have to successfully manage supply chain disruptions and seize opportunities to differentiate themselves. They can use their efficient approach to the current crisis, and their purpose to communicate a credible and purposeful brand that will bolster their hiring and retention of talent. Marketing can play a critical role in each of these areas when allowed to go beyond lead gen and product promotions.

_____________________________________________________________________

Bob Sherlock and Dennis Bailen are Partners and CMOs with Chief Outsiders, the nation’s fastest growing executive-as-a-service company.

EDI

EDI’s Role and Evolution through Technological Advances

Designed to automate the processing of information in a “zero paper” perspective, electronic data interchange (EDI) has not stopped moving forward since its inception. Thanks to the numerous advantages it offers in terms of business collaboration, it has become a seemingly indispensable tool within companies. But on a concrete level, what is EDI? How has the technology evolved over the years? Let’s look together at the uses of EDI over time. 

 

How EDI works: definition and regulatory context

 

What is EDI? 

In principle, electronic data interchange (EDI) can be likened to a dialogue between two computers and pursues a very simple goal: to exchange electronic documents between trading partners. By replacing paper document exchanges, electronic transactions have made it possible to significantly reduce human intervention. From this point of view, EDI, therefore, offers companies numerous advantages:

-Greater speed and reliability in processing information

-Reduction of operational costs

-Reduced errors and improved relationships between trading partners

For the exchange of data to be structured, it is essential to adopt a common standard recognized by the parties.

The format matters

Inevitably, along with electronic data processing comes the need to use a standard format that enables the system to read and understand the documents received. This format defines the type and form of the expected information, for example: integer, decimal, dd/mm/yy, etc. In this way, it is possible to share a common language used by the sender’s computer system and that of its recipient.

EDI standards 

There are numerous EDI standards, including ANSI X12, UN-EDIFACT (and its many variants EANCOM, GALIA…), VDA, TRADACOM, etc., and each of them has defined its own syntax and data dictionary. New standards based on the XML metalanguage have since been added to these historically popular standards, just as has been the case with HL7 industry standards used in healthcare or generic frameworks such as UBL, eb-XML, and UN-CEFACT. In addition, each standard includes numerous variants such as ODETTE or EANCOM for EDIFACT, resulting in ANSI version 5010 or EDIFACT version D12, Release A.

Before companies can exchange their electronic documents, they must therefore choose a common standard and version. Most of the time, they then use an EDI translator to automatically convert data from internal software or an application service provider.

Internet and XML metalanguage put EDI to the test

In the last decade, the overwhelming spread of the Internet and XML metalanguage have had a considerable impact on EDI. EDI/B2B software houses have taken advantage of these technological advances by aiming to facilitate the use of this tool within companies. In addition, all recent developments in EDI interoperability standards are based on XML syntax and use API-type exchange protocols.

EDI emerges as an online service 

The first commercial offerings of outsourced EDI type became popular in the early 2000s. These platforms had the advantage of outsourcing all EDI exchanges to external companies, regardless of the partners, systems and file formats involved. SaaS (Software as a Service) therefore made it possible to eliminate the many obstacles that held back EDI implementation.

EDI in Saas greatly simplifies the uses of this new technology. It can be used without major investment, to the great benefit of cost optimization. You can send or receive messages directly in the format of your ERP without the need for resources or an in-house EDI expert.

B2B integration: what’s the future for EDI? 

By automating the inter-company core business, B2B integration allows different stakeholders (customers, suppliers, business partners) to work more streamlined and efficiently.

Also known as B2B gateways, these integration solutions differ from the first generations of EDI platforms in that they bring a general, rather than a technical, view of the core business. By ensuring that different formats are taken care of, and multi-protocol transmission is possible, these B2B gateways allow you to model your core business processes and provide tailored monitoring. All of a company’s complex processes are thus integrated into a single platform. In addition, these B2B integration solutions can be offered on-premise for on-premises use, or in the cloud and thus be accessible from anywhere, such as Generix EDI Services.

Although process management or data processing engines are generally open to all use cases and formats, some EDI service providers have chosen to verticalize their solution for certain core businesses – this is what is happening in banking, healthcare, and supply chain. This allows them to speak the same language as the users and focus on each industry’s practices regarding data format, process type or security challenges.

Undeniably, the uses of EDI have evolved greatly since its inception, particularly due to the technological advances made since 2000. Thanks to APIs and blockchain, there is no shortage of prospects for further evolution, making EDI more than ever a solution of the future that can improve the efficiency of multi-company collaboration.

Generix Group North America provides a series of solutions within our Supply Chain Hub product suite to create efficiencies across an entire supply chain. From Warehouse Management Systems (WMS) and Transportation Management Systems (TMS) to Manufacturing Execution Systems (MES) and more, software platforms can deliver a wide range of benefits that ultimately flow to the warehouse operator’s bottom line. Our solutions are in use around the world and our experience is second-to-none. We invite you to contact us to learn more.

This article originally appeared here. Republished with permission.

customers

Did Your Customers Disappear? How To Get Them Back In 2022.

Perhaps orders are down, in-store traffic has hardly rebounded, revenues are frustratingly slow to return and employee spirits are in the tank as well.

When customers go away and don’t come back, business owners and CEOs are left to scratch their heads as they try to figure out why. A probable culprit is that the business failed to maintain authentic customer and employee connections while implementing the latest communication technologies that have pushed relational interactions outside of the reality of their consumer’s experience, says Phil Kelley Jr. (www.philkelleyjr.com), author of Presence and Profitability: Understanding the Value of Authentic Communications in the Age of Hyper-Connectivity.

“Technology is rapidly changing the way people exchange information and ideas leading to tremendous efficiency opportunities, but no matter how much technology changes things, people have the same psychological need for positive human interactions,” says Kelley, who is president and CEO of Salem One, a company that specializes in direct marketing, packaging, printing and logistics.

If customers feel that they are not getting that interaction, he says, they are going to move to another business in search of it.

As businesses move into 2022, Kelley has advice for how they can bring back customers they have lost because of both external and internal communication misfires:

Customers want to talk with people, not machines. Kelley is wary of technology that cuts costs but fails to take the customer experience into account. ​​”Anyone at my company will tell you that I have a passion for answering phones as quickly as possible,” he says. “I absolutely refuse to use an automated call-response application. I know that if a client is calling us, they need something and want to talk to a person, not a machine.”

Relationships are built on true relational moments. Racking up “likes” on Facebook or Twitter, or sending and receiving canned sales pitches on LinkedIn, are not examples of really connecting with others, Kelley says. “Relationships don’t get built automatically, and leadership does not get conveyed by the number of keystrokes you make,” he says. “Success is based on the value you bring to the table, and comes only after investments of time and effort. A connection in and of itself is not a relationship, and for most people connections are missed opportunities.”

Brand communication should meet customers on their terms. Businesses often fail to get the most out of their advertising because the connection to the customer is off in some way, Kelley says. He gives as an example how online advertisements often work. If someone searches for a product, they soon see advertisements for that product on nearly every website they visit, even if the website isn’t appropriate for the brand. That can become annoying. “You need to know where your brand is showing up, and what kind of customers and potential customers your brand is in front of at all times,” Kelley says. “You also need to know who those customers are, what their tastes and preferences are, and how they do and don’t like to experience things.”

Connect in a way that turns customers into repeat customers. Long-term success depends on repeat customers, but too many businesses treat their relationship with customers as simply transactional, Kelley says. That doesn’t make for a satisfying relationship. “The highest-value communications are person-to-person, but that certainly doesn’t mean that your company can’t make a connection without those face-to-face communications,” he says. “Amazon is masterful at forging relationships with its customers just via their website. They do it by making it easy to find, order, and have delivered things that people really need or want. They make it easy to find more information on the products and make it easy to return something the customer isn’t satisfied with.”

Know that a great corporate culture results in satisfied customers. It’s well-established that an organizational culture where people feel engaged, connected and purposeful helps achieve financial success, Kelley says. “This is because the attitudes of the people in an organization ultimately reach and affect customers,” he says. “To put it simply, satisfied employees tend to foster satisfied customers. So, the time and energy you devote to creating a positive corporate culture is not an add-on to getting the job done. It’s an essential part of getting the job done – or at least, getting it done well.”

“Relationships are so important to people,” Kelley says, “that any company that makes a real connection with a customer can win that customer’s loyalty for life.”

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Phil Kelley Jr. (www.philkelleyjr.com) is the author of Presence and Profitability: Understanding the Value of Authentic Communications in the Age of Hyper-Connectivity. He also is president and CEO of Salem One, which specializes in direct marketing, packaging, printing and logistics. Kelley holds bachelor’s and master’s degrees in industrial and systems engineering from Georgia Tech as well as an MBA from Clemson University. He has served on the boards of directors of multiple nonprofit and for-profit organizations. Kelley has been an active voice in the print industry, refocusing industry success definitions within the rapidly developing world of corporate communications. 

enterprise marketplaces

10 Reasons to Embrace Enterprise Marketplaces

Sellers must think strategically to unlock the power of these powerful new ecommerce technologies.

The pandemic sparked a surge in online selling — and not just by DTC brands serving customers while they were hunkered down at home. The B2B digital commerce space has also seen massive growth over the past two years, a trend that has only been accelerated by the rise of enterprise marketplaces.

What is an enterprise marketplace? Well, we’re all familiar with online marketplaces such as Amazon, Etsy, or eBay that focus solely on connecting buyers and sellers. An enterprise marketplace does much the same, but it’s typically run by an organization that wants to sell its own products and services to customers, and creates a marketplace to offer complimentary products, strengthen its partner networks, or create a better experience for its customers.

The world of enterprise marketplaces is remarkably diverse, including multi-vendor marketplaces, procurement-focused marketplaces, and branded marketplaces. In all cases, though, the enterprise marketplace approach is a powerful paradigm that’s changing the way that organizations sell online. Let’s take a closer look at some of the key benefits that well-run enterprise marketplaces deliver for their operators, vendors, and customers:

1. New revenue streams. Subscriptions, transaction fees, and value-add services or support charges enable marketplace operators to collect revenues without managing their own inventory or building out warehouses. Frankfurt Airport, for instance, invested in an online marketplace, and now collects membership fees from airport retailers who list products and offer promotions to passengers.

2. Customer experiences. Marketplaces are a great way to expand from B2B into B2B2C, or D2C models while still delivering engaging experiences. Andikem, the chemical fulfillment marketplace, achieves this by providing supply-chain transparency and fulfillment efficiency, keeping prices low for buyers.

3. Elimination of pain points. Marketplaces can offer solutions to customer headaches in areas such as supply chain and fulfillment. DOZR set up its WebStores marketplace to address an unmet need by helping construction contractors to rent equipment more easily, and now connects 15,000 suppliers with hundreds of thousands of customers.

4. Smarter procurement. Marketplaces are a perfect solution for complex procurement scenarios, helping buyers such as large companies or government agencies to coordinate across multiple divisions, subsidiaries, or business units while maintaining strict ordering processes. SupplyCore, the logistics solutions company, achieves this with a digital platform that manages complex orders without manual input, enabling customers to track order status from quote to delivery.

5. Streamlined purchasing. Marketplaces can support complex B2B purchasing arrangements, improving efficiency and lowering costs for everyone. Tundra Restaurant Supply, for instance, has built a flexible marketplace that allows it to offer customized experiences, discounts, and free shipping even for big buyers such as Chipotle.

6. Better franchise relationships. Franchise businesses can use an enterprise marketplace model to create a collaborative environment, maintain visibility into franchisor-franchisee relationships, and improve outcomes for customers. French retail franchise V and B does this well: their cloud-first marketplace centralizes inventory and streamlines operations for HQ, franchises, and suppliers.

7. Expanded product offerings. With competition growing, mass-market retailers are increasingly creating marketplaces to grow their product offerings. Walmart Marketplace, Amazon’s biggest US challenger, now uses its 5,000 brick-and-mortar stores as a value-add: vendors get a chance to sell in-store, and shoppers get access to a far wider array of products.

8. Better use of existing assets. Organizations with a large distribution footprint can maximize their assets with a marketplace. Target, for instance, leverages its distribution and store network to power its invite-only Target Plus marketplace, and promotes hand-picked brands across its Target.com and mobile ecosystem.

9. Better product information. Enterprise marketplaces can elevate product presentation — a valuable proposition for B2Bs with large SKUs and complex offerings. PartsBase, the world’s largest aircraft parts marketplace, delivers value by maintaining detailed product information for 15 billion parts spanning 100,000,000 inventory lines.

10.  A stronger ecosystem. Businesses with large partner networks can use marketplaces to centralize and enable collaboration. Toyota Material Handling achieved this by gathering over 200 certified dealers on its platform, delivering a more engaging partner experience and ensuring a better product selection for end-users.

Think strategically

Unlocking these benefits doesn’t happen all by itself. Organizations need to think strategically about their enterprise marketplaces in order to get the most bang for their buck.

That starts with building out the operational infrastructure you need to succeed, including clear purchasing processes, fulfillment workflows, and payment systems. You’ll also need to communicate clearly with all stakeholders, including your outside partners and your own employees, in order to make sure that everyone understands the strategic goal of the marketplace and is committed to pulling in the same direction.

Operators also need to go into the process of building a marketplace with clear eyes, and an understanding that creating a successful marketplace requires committing serious resources. From building out digital infrastructure to retraining employees and engaging with partners, you’ll need to invest if you’re going to build a successful marketplace — and the amounts needed can be a dealbreaker for brands that aren’t sufficiently mature or ambitious.

Finally, you’ll need to develop the right toolkit. Fortunately, that doesn’t mean building everything yourself: these days, there are a wide range of marketplace management platforms to choose from. Many marketplace tools are designed to support conventional marketplace operators, though, and don’t include the features needed for enterprise operations. Be sure you do your due diligence, and select a marketplace solution that’s designed to support the specific needs of B2B and enterprise operators.

Plan for success

The bottom line is that enterprise marketplaces are changing the way that businesses of all kinds buy and sell online. That’s potentially a lucrative opportunity for operators — including manufacturers, distributors, retailers, franchisors, and even government actors.

The more crowded the enterprise marketplace grows, though, the more competitive the space will become. That means new and existing operators will need a careful and measured strategic approach in order to gain a foothold and build a successful marketplace.

When you’re thinking about the potential benefits of running an enterprise marketplace, then, it’s important to plan ahead. Focus in on exactly what you’re hoping to achieve — and develop the strategy, partnerships, and toolkit you need to achieve your own specific goals.

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Yoav Kutner is the CEO and co-founder of Oro, Inc, which has created OroCommerce, the No.1 open-source eCommerce platform built for distributors, wholesalers, brands, and manufacturers. Yoav previously co-founded and served as the CTO of Magento.

B2B

What B2B Marketing Trends Can We Expect to See in 2022?

Major shifts in the global market are impacting how B2B companies approach marketing. After 18 chaotic months, innovation is accelerating at a rapid pace. The digital transformation of the economy and the rise of e-commerce are likely to spark significant change in 2022.

Current data suggests these trends are likely to define B2B marketing in the coming year, so businesses would be wise to embrace them.

1. Spending Shifts to Mobile-First Strategy

In 2022, mobile and digital advertising will continue to become central to B2B marketing efforts. At the same time, marketers are also adjusting to a work-from-home reality. Around 70% of B2B buyers and decision-makers prefer remote or digital interactions with vendors.

Gartner predicts this number will tick up by an additional 10 percentage points by 2025. These buyers will likely respond better to more digital marketing strategies, as well.

Many marketers will likely shift to a digital-first marketing approach that prioritizes mobile advertising and content over offline and more traditional strategies. This will probably come with growing ad spend — though growth is on track to be slower next year than it has been in the past, partly due to the lingering effects of COVID-19.

As the amount of millennials in decision-making roles has grown, so has the number of buyers who want a seller-free experience. Less personal and direct approaches to marketing may become more popular among B2B marketers as a result.

2. Changing Lead Generation Channels

Generating quality leads remains a top goal of B2B marketers. How they are developed is likely to change significantly in 2022 and through the rest of the decade.

COVID-19 impacted how events are hosted. While some businesses pivoted to online events and others chose to delay or cancel, all marketers had to adapt quickly to the reality that in-person events were no longer always available to generate leads.

Jurgen Desmedt, head of marketing at Europe-based CDP vendor NGDATA, told CMSWire that social media is emerging as a major lead-generation channel.

B2B marketers are more often taking to social advertisements to generate leads that previously came from events. Uncertainty in B2B marketing may also be driving the pivot to social media. Marketers unwilling to commit fully to in-person interactions may instead look toward other methods requiring less commitment.

The most popular style of social media marketing is also changing. Many marketers are now more interested in highly targeted and personalized strategies. Many platforms offer targeting tools with extremely fine levels of detail so they can deliver niche content to specific audiences.

Scheduling apps may help smaller businesses and solo entrepreneurs manage an increasingly complex strategy that delivers niche content to various audiences.

3. Growing Focus on Customer Psychology

The “neuromarketing” strategy allows B2B marketers to spend more time than ever focused on the individual psychology of key buyers and decision-makers. In practice, this may look like a shift from topic-driven to persona-driven marketing in B2B. Marketers will focus on honing in on their target audience’s particular needs, desires, and interests to generate more effective ads, content, and events.

Client personas will become a more important marketing consideration as a result. There’s also likely to be a greater focus on matching searcher intent and developing deeper content calendars.

4. Innovation to Engage B2B Customers

Cutting-edge technology will help marketers create campaigns that more effectively engage potential buyers in 2022. Optimizing for new types of search — like image and audio — may be essential to capture traffic. AI and marketing chatbots could help marketers reach more customers and reduce the amount of time potential buyers spend waiting.

In some cases, new technology and the focus on psychology may also mean the growing use of high-tech advertisements that generate interest and secure potential buyers’ attention.

Interactivity in emails can increase conversions and improve ROI — helping businesses get more out of their email campaigns. AMP emails, which enable marketers to provide app-like functionality inside a message, are one common method for delivering this interactivity.

Similar uses of personalization and interactivity in other forms of marketing may also provide results like these.

5. Original Research and Top-Quality Content

Online resource centers, blogs, content hubs and more have become a valuable tool for B2B marketers. In 2022, original research is likely to become even more important for marketing efforts.

According to data from the 2020 Demand Gen Report, B2B buyers increasingly look to a business’s original content when making purchasing decisions. This has become a significant trust marker, signaling to buyers that the company puts stock in its organizational knowledge and experience. Research also provides some early value to a potential buyer,

Because content has become a trust marker, simply writing posts to generate traffic and leads will no longer be enough. Information needs to be top-quality to encourage buyers to investigate the brand further or get in touch with the business’s sales team.

Various content strategies will likely be necessary to deliver high-quality information relevant to B2B buyers’ interests.

Customer psychology will likely be important to content teams. Effective use and reuse of posts will allow marketers to take full advantage of what they develop. Breaking things up to enable the tracking of micro-conversions could provide marketers with additional insights into reader behavior and interests.

Certain content types will also probably be more valuable than others. A business’s niche, original research, white papers and other forms of highly valuable and in-depth content may provide the most value to readers — building trust and generating interest.

Video content remains one of the top content types, overtaking blog posts and infographics in popularity. However, the high cost of producing video content may be a barrier to its use by some businesses.

How B2B Marketing Is Likely to Change in 2022

Uncertainty and digital transformation will likely have a significant impact on B2B marketing next year. Marketers are beginning to leverage mobile-first approaches, invest more in social media and adopt cutting-edge technology, like chatbots and interactive emails. This will be vital to effectively reach people and boost sales moving forward.

These new strategies and tools may help companies adapt to a market where buyers are more interested in digital channels and personalized content. Marketers must be prepared to embrace the upcoming changes to effectively reach their target audiences in 2022.

rebate management

Why Enterprise Resource Planning Systems Fall Short with Rebate Management

Enterprise resource planning (ERP) systems allow companies to integrate many disparate elements of their business on a single centralized platform – from human resources to supply chain logistics to financial data. While this level of centralization can create operational efficiencies, the breadth of functionality offered by ERP systems also make them less effective when it comes to handling more specialized aspects of your business.

For example, when companies need to design, track, and execute rebate agreements, ERP systems come up short. This is because rebates can be highly complex and dynamic – to manage them productively, companies need purpose-built software that will help them maintain transparency internally and with trading partners, identify where rebate programs can be improved, and react to changes in markets and distribution dynamics. ERP systems allow companies to record the rebates they’re owed, but not much else.

Although many companies get by with the rudimentary rebate management tools offered by ERP systems, supported in parallel by spreadsheets and other off-system tracking, the usefulness of these tools breaks down with complex incentive-based rebate programs and an ever-increasing drive for rebates to stimulate the business growth they were implemented for in the first place. Dedicated rebate management systems, on the other hand, are designed around the needs of complex and dynamic rebate programs, helping companies build more sustainable relationships with one another by giving them a wider range of options and the resources they need to communicate and collaborate in real-time.

How to manage complexity

Global supply chains have never been more complex than they are today – they’re more interconnected, they serve larger and increasingly diverse markets, and they often require vast logistical infrastructure to function. A 2020 survey found that 91 percent of businesses say they “can’t stay ahead of their supply chain complexities.” As if this task wasn’t already difficult enough, COVID-19 threw the global economy into chaos overnight, snapping crucial links in supply chains, straining relationships between manufacturers and distributors, and forcing consumers to deal with delays and unpredictable cost fluctuations.

One of the reasons rebates exist is to account for uncertainty – from economic shocks to shifting consumer demands. They retroactively bring volume, pricing and payments into line with projections, incentivizing trading partners to continue investing in one another. The more contingencies rebates can account for, the easier it will be for companies to predict future conditions and adapt when they change. This is why there are hundreds of different types of rebate agreements – they can be based on seasonality, sales targets, marketing commitments, the performance of specific product lines, and a range of other variables.

Many rebate agreements also change annually (or more frequently) to spur growth and react to market changes as they arise. These are all reasons why these agreements can be surprisingly intricate, which makes ERP systems blunt instruments for managing them.

Increasing efficiency and agility

ERP systems are all about efficiency – by bringing a wide range of business processes (from workflow solutions to communication tools) together on a single platform, these systems are designed to consolidate information, facilitate cooperation, and streamline a company’s processes across the board. This sounds particularly attractive to company leaders in the supply chain sector, who are hyper-cognizant of any opportunity to increase efficiency. An EY survey found that 55 percent of companies expect digitization to improve operational supply chain efficiency (the second-most-cited option) over the next three years.

But can ERP systems really increase the efficiency and effectiveness of B2B rebate programs? By failing to account for a wide enough range of variables and providing little in the way of real-time flexibility, these systems aren’t the drivers of business growth that companies need. According to Gartner, 89 percent of supply chain professionals want to invest in agility. This is what specialized rebate management solutions provide by giving companies the chance to get creative with the negotiation and implementation of deals, adjust those deals as circumstances change, and track every stage of the process on a platform that was built specifically for handling rebates.

When companies rely on ERP systems that can’t accommodate their rebate needs, they’re forced to use other forms of documentation and manual logistics management, such as spreadsheets. This can lead to costly errors and wasted time – hardly the efficiency companies are after.

Building stronger relationships between supply chain partners

Rebates help companies forge stronger relationships by allowing them to negotiate deals that satisfy both parties and giving them the freedom to alter the provisions of those deals as circumstances dictate. Dedicated rebate management platforms provide mechanisms to ensure transparency and accountability, more robust contract management, and the ability to manage hundreds of different types of rebates.

According to a recent Enable survey, more than one-third of companies say they still use spreadsheets to document, share, and sign off on deals. This doesn’t just lead to mistakes, backtracking, delays, and a series of other logistical problems – it can also be detrimental to relationships, as it requires partners to dig through scattered documents and search records that haven’t been properly systematized whenever a dispute or any other issue arises. ERP systems are typically transaction-centric, while rebate management systems make the process of creating, approving, and tracking deals an ongoing collaborative process with dedicated workflow and communication tools.

ERP systems have a clear role to play in helping companies become more productive, which is why rebate management solutions can be directly integrated with them. But rebate management is a highly specialized field – it requires digital tools that are specifically designed to manage complexity, improve supply chain flexibility, and build healthy and sustainable relationships between partners.

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AUTHOR BIO:

Andy James is the Director of Product Strategy at Enablea cloud-based SaaS solution for B2B rebate management. The software is used by procurement and finance professionals in distribution, wholesale and manufacturing across over 50 industries so that they can have an easy, seamless solution to execute and track their full range of trading programs.