The Basic Concepts of B2B

Every business has trading partners. That’s for sure. But when it comes to getting involved with their customers and suppliers utilizing B2B processes, one might have several questions and wonder whether it is indeed feasible for their business. However, nothing can be further from the truth as B2B is actually very simple to understand, and once you do you’ll see the immediate benefits as well.

Before we get into what B2B actually is, let’s understand that all companies exchange common documents with their trading partners in the form of Purchase Orders, Invoices, Delivery Dockets and so on and so forth, which have to manually keyed in that not only costs money to do but can result in unnecessary errors that can cost your company even more.

And this is where B2B solutions become an answer to a company’s problems not only saving them money but also improving their relationships with their trading partners by the use of electronic applications which deliver information in a timely, effective and error-free manner.

So, here are three ways by which one can use B2B solutions for their business:

1. Develop a website and have your trading partner use it as well. The only problem with this is that websites might be good for presenting information but not at all suitable for B2B.
2. Use an outsourced bureau, message exchange service and so on and so forth. This method worked well when B2B was complex and expensive to set up but with recent technological developments, using these third parties is gradually becoming a thing of the past.
3. Direct contact, point-to-point B2B to your trading partners, which is the most favored method in today’s world since the complexity is taken care of by technology while the user has an easy interface to the system. And what’s more it’s affordable as well.