Grow your Business with Emarketplace Part III

Written by Nowshade Kabir


Increase Company Productivity

After years of hard work, finally your business started to pick up. You are selling more products then ever! You have lined up a good number of suppliers and buyers. Things have never been better than now. Except one thing! With rising sales your overhead and supply chain expenses are also sky-rocketing. Your profit margin is no longerrepparttar same as it used to be! You feel that you are in a limbo! How to increase productivity? How to cut costs without giving up sales?

Sounds familiar to you? Well, your company is not alone! According to IDC, a research firm, while interviewed, overwhelming majority ofrepparttar 108803 company executives claimed that their biggest concern is declining profit margins.

Companies, in order to stay competitive, must find solutions to increase efficiency in business operations and control costs. Is there a solution to this ubiquitous problem?

Remember Dorothy fromrepparttar 108804 children classic “Wizard ofrepparttar 108805 Oz”? She had to go through numerous obstacles in her quest to find a way to get back to Kansas, her home. Only to find out thatrepparttar 108806 silver shoes that she was wearing fromrepparttar 108807 very first day since repparttar 108808 cyclone brought her torepparttar 108809 Land of Oz could have taken her back home, all she had to do was to knockrepparttar 108810 heels together three times and commandrepparttar 108811 shoes to carry her wherever she wished to go.

Similar to this story, solutions to these corporate problems are widely available right under your nose, only you as a company executive have to overcomerepparttar 108812 fear of new technologies and adopt them to your own good.

B2B exchanges or emarketplaces are capable of solving many key problems that corporations are facing today. Emarketplaces can provide immense opportunities to automate supply chain process, increase operational efficiency, reduce overhead costs and expand market at a minimal cost.

Using emarketplace effectively Two primary factors of company productivity are Revenue Increase and Cost Cutting. Both are achievable if a company seriously decides to incorporate emarketplace features in all aspects of business operations. That means if as a company you want to reap allrepparttar 108813 benefits of emarketplaces, you have to commit yourself seriously.

Become a member Once you find an emarketplace that suits your requirement,repparttar 108814 first thing what you have to do is to register and become a member. Most emarketplaces have different membership packages. Although, to check outrepparttar 108815 emarketplace – whether it is viable for your business or not – you might start withrepparttar 108816 free membership package, but once you are satisfied with your selection, to userepparttar 108817 emarketplace to your advantage you should chooserepparttar 108818 package with most features and functions.

Integrate your products to e-catalog If you are a supplier, this is a very important step to take. Unless you have thousands of products to sell, this should not be a difficult task. All emarketplaces use either a form or wizard-based, not-so-complex and user-friendly product adding tool. Since e-catalogs that emarketplaces use are industry standard, once you aggregated you products, same information you will be able to use in other e-catalogs, emarketplaces and even in your own website.

Doing business online — Private B2B Exchanges

Written by Nowshade Kabir


Business processes arerepparttar building blocks of an enterprise. If one of these processes fails to live up to its expectation, business starts to flounder. How to minimizerepparttar 108802 risks, get a better monitoring ofrepparttar 108803 processes and, atrepparttar 108804 same time, reduce costs involved? The answer is – business process automation.

Although, automated business processes based on online technologies can create incredible value to existing business, many companies are slow to adopt technological innovations and reap benefits from them. However, lately, things have started to change! According to a recent poll conducted among mid size companies shows 52 percent of respondents plan to spend over a million dollar on business process automation. Large companies – early adopters of online business processes – have been immensely profiting fromrepparttar 108805 value created by process automation. Intel recently announced that it saved one billion dollar last year alone thanks to online business process management.

In broader sense, business process management technology delivers solutions to understand, analyze and simulate business process models. Companies adopt this technology to streamline their business operations, lower overhead expenses, reduce maverick buying, reduce paper-based – mistake prone – transactions and get better control. The ultimate goal is to makerepparttar 108806 corporation a fully process-managed enterprise, transformed through strategy, design, realization and actual operations.

Companies require streamlining their business processes to help solve various crucial but specific problems, such as:

- An electronic supplier, in order to stay competitive, requires reducing order fulfillment cost aggressively.

- A merchant needs to reduce shipping time by better monitoring his inbound shipping.

- A manufacturer needs to cut production cost by reducing manufacturing time of a key product.

- A bank needs to develop and market a financial product faster than its competitors.

- A large distributor needs to consolidate buyers and suppliers to bring efficiency to its business.

Although, business processes are wide in range; and there are many complex issues that require meticulous work, automation of some basic processes may bring notable result for virtually any company. These processes include supply chain, procurement, logistics, inventory control, etc. By adopting an online business to business exchange companies can streamline most of these business processes bringing added value to their operations.

A B2B exchange is a unified online platform, where buyers and sellers login to communicate, collaborate and make business transactions. A private B2B exchange, mostly, consolidates suppliers and buyers of a specific company, which owns and operatesrepparttar 108807 exchange.

There are two ways of integrating B2B exchange to automate business processes. A company can participate in existing B2B exchange or create its own private exchange.

While for small companies, it is more viable to participate in a major B2B exchange that has required components, larger companies should consider creating their own B2B exchange.

The profits companies can reap from joining an existing B2B exchange or creating their own private one could be enormous.

Customer Base Development

A supplier, once registers with a B2B exchange, gets immediate access to a large community of prospective buyers of his products or services.

Increase Revenue from Existing Customers

Business process automation allows companies develop products faster, buyers get faster and easier access to product information, receive quicker response to their requests, get better customer support and may buy products online. These turn into more sales.

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