Magento, an eCommerce platform, announced on Wednesday (April 5) that it will now support B2B capabilities through the launch of its Magento Digital Commerce Cloud for B2B offering.
The digital cloud for B2B companies will handle the complex B2B commerce requirements in order to empower manufacturers and distributors to grow and enhance their businesses.
According to Magento, B2B merchants can rely on the latest enhancements to help adapt their business models to meet the needs of digitally-connected customers in a simple and cost-effective manner.
“Magento Digital Commerce Cloud for B2B addresses the key challenges of branded manufacturers and distributors. It’s a rich feature set that enables merchants to quickly bring consumer-like innovation to their buying experiences while driving revenue growth, growing customer loyalty, and reducing costs,” Jason Woosley, SVP of product and technology at Magento, told PYMNTS.
Magento worked directly with B2B companies in the development of its Digital Commerce Cloud for B2B offering and incorporated their feedback throughout the process of creating the cloud-based commerce suite.
The offering also leverages the complete Magento Commerce portfolio, which allows merchants to avoid putting all their focus on building B2B functionality from scratch.
As the industry’s only mid-market solution that serves both business and consumer buyers on the same platform, Woosley said Magento is committed to catering to the specific needs of B2B merchants.
“Many B2B distributors are stuck in old systems, processes and the ‘if it isn’t broken, don’t fix it’ attitude, so it is challenging for them to make swift changes,” he explained.
While B2C companies have historically been leaders in customer experience innovation with the help of large investments in talent and technology, B2B companies are starting to understand how critical it is for them to follow suit.
However, B2B firms face unique challenges related to cataloguing, repeat order management, custom pricing and integration with complicated backends, Woosley noted.
Through its flexibility, extensibility and scalability, the Magento platform is well-suited to alleviate these challenges, he added.
The features of the Digital Commerce Cloud for B2B offering include:
“The dynamics for B2B companies are rapidly changing, due to customers who want the convenient, seamless self-service options that B2C companies have long understood,” Woosley stated in a press release. “Merchants use Magento to get to market faster and serve both their B2B and B2C customers. We’ve worked directly with B2B companies to build this new offering, incorporating their feedback along the way. The result is a comprehensive and flexible cloud-based commerce suite, leveraging the complete Magento Commerce portfolio, that allows companies to focus on their businesses rather than building vital B2B functionality from scratch.”
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