What advantages do B2B marketplaces offer?

December 14th, 2017
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 Diagram about the advantages of B2B marketplaces

B2B marketplaces allow buyers and suppliers to interact and manage their transactions online. Some of the leading solutions in France include Ariba, Perfect Commerce, Coupa, IBX, Ivalua, Determine and Basware. These platforms are proving increasingly popular with companies, since they offer a number of advantages for buyers, whether for their source-to-contract or procure-to-pay processes.

Five major benefits of B2B marketplaces

Time to take a closer look at the inherent benefits... these platforms can be used to:

  • Improve transaction reliability
    • Reduce the complaint rate by 30%
    • Simplify access to contracted products
  • Improve contract oversight and deployment
    • Generate transaction-related reports
    • Simplify catalogue access (Punch-Out or e-cat)
  • Bring purchases under control
    • Define a list of contracted suppliers and selected products
    • Control purchases through approval workflows
  • Drive down administrative costs
    • Incorporation of the entire transaction process into the customer's e-procurement solution
    • Hosting of the validation processes
  • Accelerate the entire transaction
    • Access to contracted suppliers' product ranges
    • Automatically match orders against invoices

A new feature is now available to procurement departments: access to the products from certain non-contracted suppliers. Ariba and Coupa have prioritised this service with "Spot Buy" and "Coupa Advantage" respectively. This gives buyers access to an extremely wide product range for their Tail spend without bypassing their procurement solution and therefore keeping their transactions under control.