B2B Market Leader Extends Capabilities as Global Manufacturers and Distributors Increasingly Adopt Magento Commerce as Foundation for Customer and Partner Experiences
LAS VEGAS — April 5, 2017 — Magento Commerce, the worldwide leader in cloud digital commerce innovation, today at Imagine 2017 announced new B2B capabilities that empower branded manufacturers and distributors to transform and grow. Already recognized as the No. 1 platform on Internet Retailer’s 2017 B2B E-Commerce 300 Guide, the release of Magento Digital Commerce Cloud for B2B allows merchants to handle complex B2B commerce requirements out-of-the-box, enabling them to simply and cost-effectively adapt business models and meet the needs of digitally-connected customers. It also uniquely positions the company to meet the demands of businesses with both B2B and B2C customers.
Magento empowers B2B merchants to quickly create B2C-like commerce experiences that strengthen customer loyalty, drive revenue growth, reduce costs, and optimize the supply chain. Merchants can now fully support corporate buyers with commerce account management, customized catalogs and price lists, tools for rapid ordering, online requests for quote workflow, and increased inventory visibility across retail outlets. Magento’s flexible platform, with extensive APIs and off-the-shelf extensions, integrate with nearly any ERP, CRM or other backend system, so businesses can leverage existing technology investments to drive digital transformation and bring new initiatives to market quickly.
“The dynamics for B2B companies are rapidly changing, driven by customers who want convenient, seamless, self-service options that B2C companies have long understood,” said Jason Woosley, SVP of product and technology at Magento. “Businesses want to get to market faster and serve both their B2B and B2C customers. Magento is a leader in the $6.7 trillion B2B ecommerce space, which has given us the opportunity to work directly with B2B companies to build this new offering. The result is a comprehensive and flexible cloud-based commerce suite that leverages the complete Magento Commerce portfolio and enables companies to focus on their businesses rather than building vital B2B functionality from scratch.”
Magento Digital Commerce Cloud for B2B addresses key challenges of branded manufacturers and distributors. Features include:
- Corporate account management: Support sales to corporate accounts with multiple levels of buyers and varying roles and permissions. Offer flexible payment options, including payment on credit, to boost sales.
- Quoting: Efficiently manage quote requests and negotiate pricing terms with a streamlined workflow.
- Quick ordering: Drive recurring revenue with fast, frictionless ordering. Customers can enter or upload lists of SKUs, use requisition lists, copy previous orders to accelerate the purchase process, or execute rapid reorders for common purchases.
- Custom catalogs and pricing: Ensure customers receive the right products and pricing information with custom catalogs and personalized price lists for individual companies or groups of customers.
- Real-time inventory intelligence: Expose distributors to available inventory across mutlple locations to increase sales and deliver a better customer experience.
- Intelligent routing and order delivery: Provide significant cost-savings for businesses that ship from multiple locations by selecting the best fulfillment source.
- Backend integration: Easily integrate and enable real-time communications with any ERP, CRM, or other backend system using extensive APIs and off-the-shelf extensions.
- Multi-channel support: Boost efficiency and a more consistent brand experience by serving B2B and B2C customers, multiple brands, and multiple geographies on the same platform.
By 2018, companies that consumerize their B2B digital commerce sites will gain market share and increase revenue up to 25 percent, according to Gartner. More than 50 merchants on the Internet Retailer B2B E-Commerce 300, including Fortune 500 brands 3M and Procter & Gamble, already use Magento to streamline operations, enhance partnerships, and drive topline business initiatives.
“We needed to create a simpler buying experience to support the full range of our customers’ needs, but we hadn’t found a partner that could meet our requirements or scale as quickly as the market demanded,” said Greg Wilson, senior vice president and CIO at CentiMark Corporation, the parent company of QuestMark. “Magento enabled us to build a B2B customer experience that doubled our revenues and maintained our leadership as America’s No. 1 roofing and flooring contractor.”
Already recognized as the No. 1 platform on Internet Retailer’s 2017 B2B E-Commerce 300 Guide and a strong performer in The Forrester Wave B2B Commerce Suites 2017, this announcement further differentiates Magento Commerce’s B2B offering with dedicated capabilities and a fully packaged product for B2B-specific use cases.
Magento Digital Commerce Cloud for B2B will be available this summer. For more information about how Magento supports B2B merchants, please visit: magento.com/industries/b2b