Ecommerce (short version of the term Electronic Commerce) is usually associated with buying and selling over the Internet. Examples of e-commerce are electronic funds transfer, supply chain management, Internet marketing, online transaction processing, electronic data interchange (EDI), inventory management systems, and automated data collection systems. The definition of e-commerce in the modern times implies that it typically uses the World Wide Web (WWW) at least at any point in the transaction’s lifecycle. It’s changed the definition to large extent by creating, transforming, and redefining relationships for value creation between or among organizations, and between organizations and individuals.
B2B relationships are fundamentally more complex, with potentially many people from each company needing to interact with each other. Sometimes it may be appropriate for this interaction to take place in public. This leads some people to conclude that B2B is simply not “social”. But that would be confusing “social” with “public” – just because a conversation takes place in private, visible to a specified group of people, it doesn’t mean it’s not social. In a pre-Facebook, pre-Twitter world, one of the most common uses of “social” in the UK was to describe working men’s clubs, which were private, membership-only institutions.
As B2B is more relationship-driven as both (buyers and sellers) are typically looking for longer-term relationships than in the consumer world because of the higher cost of both purchase and sale. But sales cycle is typically much longer as there are usually many people from the buyer side involved, each with their own requirements, and this means there are usually many different people from the seller side involved. And of course, a B2B sale is just the beginning of the relationship, the communication continues way beyond the initial sale.
Penetration and spread of the internet has fuelled e-commerce in a bigger way. Online retailers are sometimes referred as e-tailers. E-commerce that is conducted between businesses is referred as Business-to-Business (B2B) environment. The advent of e-commerce helped in linking all B2B stakeholders in a globalized way. Environmental protection has taken place with the accelerated pace of the e-commerce marketplace. The first aspect of e-commerce is the potential rapid and integrated information-sharing within the supply chain. The second aspect is the potential decrease in resource utilization as e-commerce reduces the need for more traditional infrastructure and operation needs of commercial activities.
Many factors are affecting e-commerce growth, as critical business information to be stored, transmitted and retrieved instantly in a digital form electronically. It connects businesses (small, medium or large) to trading partners sourcing out supplies, buying and selling goods and services online in real time. An ‘all in one’ device strategy with cost effective approach can have a greater reach across the population without compromising security threats will benefit in terms of usage, reach, cost of installation, efforts and money for maintenance, upgradeability and sustainability.
BeConnections is a global B2B community and interactive directory for companies, businesses and government authorities to search, find and connect for new opportunities at domestically or internationally.
BeConnections is a “one stop shop” for business news, events and networking, centralizing business activity under one platform. With BeConnections, SME’s can target and message new partners, suppliers or customers all under one network. Their upcoming events features allow companies to connect before and after events such as trade fairs or conferences. Closed groups allow business organizations and industry groups the ability to connect and create B2B communities within a convenient larger network.
BeConnections is already present in 35 countries and 25 industry sectors worldwide.
Team eXi wishes them success in their journey.
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