In their 2020 report, Digital Commerce 360 estimated last year, online sales on B2B eCommerce sites have increased by 18.2% to $1.3 trillion.
ERP integration for B2B- This growth in sales spans across manufacturers, distributors, retailers, and B2B businesses of all sizes operating in various industries. As B2Bs embrace digital transformation initiatives and move to eCommerce, a seamless ERP integration must be on top of their list.
Gartner predicts that B2B businesses that consider their integration capabilities as strategic investments will grow from 40% in 2019 to 65% in 2024. The main driver of growth is expected to be in online systems integration between tools like ERP, CRM, and eCommerce.
But what are some actual benefits of an ERP integration for B2B eCommerce businesses?
1. Automate manual processes
An ERP integration for B2B eCommerce automates various processes that would have to be performed manually. Some of the most obvious things include manual order entry into the eCommerce system, updating inventory or invoicing data, generating reports, and so on.
ERP integration frees up your staff to perform more productive tasks that cannot be automated: building relationships, solving customer issues, and offering personalized support.
It also greatly lessens the chances of productivity losses and errors, which can add up to substantial savings over time.
2. Provide accurate pricing
It’s not unusual for B2Bs to rely on complex pricing structures. Some sellers generate pricing dynamically based on changing inventory data.
Others might want discounts applied according to customer or order value. Then there are tiered prices, new products, and pre-negotiated prices to deal with. As B2Bs grow, their product catalogues, product types, factors affecting prices grow, too.
Since B2Bs rely on their ERP system to centralize contracts, pricing and invoicing, it makes sense to pass on that information to the B2B eCommerce system via integration.
3.Increase inventory visibility
During the early days of the COVID-19 pandemic, everyone from hospitals, institutions, businesses, and individuals sought out hand sanitizer and face masks.
While many B2B sellers met out-of-stocks, customers faced frustration since product availability on eCommerce websites wasn’t accurate – or not there at all.
Without an ERP integration with your eCommerce software, keeping accurate, real-time inventory information on your eCommerce website becomes near impossible. Since the ERP software keeps an accurate inventory record, customers can stay updated on stock levels as they place their order.