Key Features of Magento for Improved B2B eCommerce

The eCommerce industry is expanding fast. B2B eCommerce is expected to be worth over $6.5 trillion worldwide by 2020. In such a hyper-competitive market, outdated software leaves users vulnerable to a range of incompatibility issues and performance failures.

Magento is one of the most popular eCommerce platforms. Each new version of Magento reveals security breaches of older versions, underlying the vulnerability of outdated stores.

If you run an eCommerce store, it is time to upgrade your Magento instance. The latest version not only brings many B2B features that improve security but also streamlines many business processes and improves B2B functionalities.

Key Updates Include

• General bug fixes
• An upgraded Magento Developer Toolkit
• New security features
• Enhanced website reporting tools

Let’s take a look at Magento’s improved B2B features now.

Advanced Account Management:

• Multiple buyers can use a single account
• Corporate buyers can manage their accounts with ease without involving merchants
• Corporate buyers can add and remove company users
• Users can be arranged into a hierarchy that resonates with your organizational structure using a drag-and-drop function
• Roles and permissions can be defined for each user
• Supervisors have more visibility into quotes and orders for direct reports
• Supervisors can view credit balance, company information, and sales rep details

Quote Request and Negotiation from the Shopping Cart:

• Quote management and negotiation capabilities are a default feature
• Buyers can request a quote from cart using comments and attachments
• Merchants can respond to proposals with price changes, recommendations and shipping offers
• Merchants can monitor requests and get access to history logs and recorded data to improve the negotiation process

Speedier Purchases with Quick Search and Order:

• There is a reduction in time involved in making a purchase
• Customers can search for products by their names or SKUs and add them to the cart with a click
• Magento will also notify customers when inventory is available if they couldn’t purchase it during the previous attempt
• Customers can add CSV files to complete their orders
• Multiple SKUs can be entered manually or imported into a quick order form
• Merchants can create unlimited requisition lists for actively selling products and assign them to select customers

Enabling Payment on Credit for Customers:

• A payment on credit option is available as a part of the new features
• Companies can check out and pay later
• Credit limits are based on a merchant’s credibility and payment history
• There are minimum and maximum order limits and varying credit restrictions for some countries, along with some adjustable payment settings
• Credit limits can be synchronized with ERP system
• Customers can track their personal credit information and status

Custom Pricing to Drive Negotiations:

• New features provide a better platform for customer negotiations to improve sales figures and buyer relations
• Merchants get quote summaries and can use this information to optimize returns from proposals and evaluate potential discounts
• Merchants can create specific price lists for different companies
• Merchants can compile a default public pricing list for non-logged in users
• Merchants can limit the visibility of products and categories within a specific price range and set up percentage-based discounts and a custom value

Improved Catalogue Control:

• Sellers can create and maintain different product catalogs with fixed or dynamic pricing structures for different customers
• Merchants can control the product and price displays
• These features will maximize conversions and increase revenues based on different customer groups

Improved B2B Operations:

• Merchants can reduce shipping-related costs with automated shipping processes
• Merchants will have access to a whole set of management tools for loading and dispatching of store products from different locations
• Merchants will have unique product allocation rules for every shipping location

Take your eCommerce store to the next level!

At Grazitti Interactive, our team of certified Magento experts will help you take your store to the next level. To know more about our eCommerce portal solutions, email us at [email protected] or visit our website.