How B2B Buying Negatively Impacts Business

B2B buying
Businesses of all sizes, across all industries, often struggle with growing their business while waiting for payment on products and/or services they have delivered. Payment terms of 30, 60 days or more are convenient for buyers, but delays the benefit of the payment to the seller. Some transactions can be processed by credit cards, though most high-value transactions end up in the accounts receivable column of a company’s balance sheet. Buyers immediately benefit from what they buy, whether it is a capital equipment purchase or professional services. The seller needs to wait to pay their staff, pay their taxes or […]

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5 Ways to Get Your Customers to Use Your B2B eCommerce Site

On board your B2B customers
Let me guess: Your B2B customers are hesitant to use your new online platform, aren’t they? By now, you’ve probably heard all sorts of excuses from them on why they won’t purchase through your new platform. Others will tell you that it’s too expensive — even when it’s not. Others will tell you that the learning curve will take far too long — even when it won’t. Lastly, others will even tell you to your face that they don’t need your online platform — even if they obviously do. With how the B2B customers are often such a tough nut […]

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Problems Collecting Payments? Here Are 5 Proven Ways to Reduce Your DSO

Credit Management Software can reduce your DSO
B2B companies experience longer days sales outstanding (DSO) on average. In the U.S. alone, 42.5% of B2B invoices were paid late, while 5.6% are still unpaid by the 90-day mark, according to the Atradius Payment Practices Barometer results for September 2014. DSO is the average number of days a company takes to collect revenue for sales made on credit. It indicates how quickly customers pay and how much cash the company converts from credit sales. When sales either go uncollected or take too long to get collected, it hurts the company’s cash flow and debilitates day-to-day operations. The shorter the […]

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The Speed of B2B

Faster B2B Sales
The realities of a faster, more agile B2B sales channel It isn’t news to anyone that today’s consumer wants, rather, demands that their goods arrive within two days. This behavior sets a precedent for Manufacturers and Distributors in B2B as well. Just because you’re selling to a business, doesn’t mean there isn’t a buyer at that business that shops at Amazon from the comfort of their home. Contractors, commercial purchasers, and professionals are used to interacting with large big-box retailers and e-tailers outside of their jobs. E-Commerce, in particular, has changed the scope of the buying conversation and the B2B […]

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6 Questions to Consider When Choosing a B2B eCommerce Platform

6 Steps to choose a B2B e-commerce platform
Farmer Fiona Needs a B2B E-commerce Platform The 6 Questions Fiona Should Ask When Choosing her B2B eCommerce Platform Farmer Fiona is an imaginary and simultaneously enterprising urban farmer who grows sustainable, organic produce with extraordinary care and yields the snappiest snow peas, the pinkest radishes and the tastiest leeks in her town. With the number of restaurants clamouring for her products continually growing, it is time that Fiona decides which e-commerce platform that will see her business into its next phase. Here are 6 questions that Farmer Fiona, and other B2B companies, should ask about the e-commerce platforms they are […]

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