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B2B E-Commerce Entry Barriers and Challenges  

B2B E-Commerce Entry Barriers and Challenges

 

E-commerce has the potential to improve efficiency and productivity in many areas and industries and, therefore, has received significant attention since last decade. With the growth of Internet users around the world, new opportunities for global e-commerce are growing in parallel.

 

For B2B companies, a web shop can and should be much more than just an additional sales channel as digital channels, and ecommerce in particular, are critical for their successful B2B operations.  Amazon, Alibaba, Mercateo, Global Sources and Walmart are few major players in the global B2B eCommerce market. Amazon rebranded its B2B eCommerce operations from AmazonSupply to Amazon Business in 2015 and achieved sales of over US$1 billion in just a year. According to Forrester Research, Think with Google, 90% of B2B buyers use a mobile device at least once during their decision process, and 59% of buyers conduct all pre-purchase research online. According to Orbelo publications, nearly 1.92 billion of individuals, worldwide, shopped online means 1 out of every 4 people you see around you is an online shopper.

 

Not surprisingly the global B2B eCommerce market valuing US $12.2 trillion in 2019 is over 6 times that of the B2C market. This number shows us the importance and growth of B2B e-commerce market. So, in order to expand existing business, reduce entry requirements, process costs in customer management and improve the quality of customer experience, a good e-commerce project must be prepared with propositions of new way of doing business which takes strategic and organizational and technical aspects into account with help of new service models.

 

Lack of technology knowledge to ensure the quality and size of the IT workforce is one of the biggest challenges for many companies’, as they consider hiring a new team for their ecommerce department. In a report commissioned by SAP, Forrester has reported that a company needs 12 full time employees to maintain webshop and not all companies can afford an ecommerce team of 10+ employees in addition of their actual staff. But as a successful e-commerce is a team work, from IT department to product management and from sales and marketing to customer service, companies must have a clear goal and make relevant decisions that can measure investments and ROI.

 

Trust, confidence and data privacy represents as another challenge for electronic commerce. The question of trust is even more prominent in the virtual world than it is in the real world. Plus, hackers are becoming more and more creative each day and inventing new ways to exploit e-commerce business and its customers for their financial gains. Cyber crimes can have bad impact on e-commerce retailers leading to significant business implications and bad PR and loss of customer trust. To stay on top of these constant threats, E-commerce retailers need to know what they are up against, and how they can prevent their business from becoming a victim of one of these attacks by taking proactive measures to protect their e-commerce from malicious hackers and safeguard their customer’s personal information.

 

E-retailers can face challenges related to their growth if the right partner and technology isn’t chosen in the beginning of the e-commerce project. Therefore, the experience of project partners who specialize in B2B web shops should not be underestimated. In order to have achieve a profitable and long-term growth, companies must choose the right CRM system, shopping cart solution, inventory management, shipping partner, analytics and email software, marketing campaigns software/partner agency and much more. So, a Web shop projects doesn’t only require a clean product and customer data management to avoid follow-up costs but also the systems used for merchandise management and customer relationship management integrated with the web shop software. The aim should be to implement central, consistent data management as the basis for maximally automated processes and error-free real-time information about products, stocks, prices and delivery dates.

 

The future is certainly positive for B2B e-commerce. With a bright future and growing competition, it is important that B2B companies invest in a sophisticated e-commerce platform to stay in the competition and secure a first-mover advantage.

 

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IT Trend 2020: Future of Cloud Computing and Experts Predictions

 

2010 defined Cloud computing’s past, present, and future when technology giants Microsoft, Google and Amazon Web Services launched their cloud platforms. It went from “what is cloud” to “where and when can we use it for cost-cutting options” to “why not cloud”? And there’s no doubt that even in 2020, it’ll be one of the key innovations that will be the subjects of countless business and technology discussions.

 

Evan Kaplan, CEO, InfluxData

Cloud Is the Future Business Model for Open Source Companies

“The coming year will show that cloud-based applications are the winning monetization strategy for open-source software companies. While the first generation of companies that developed open-source software tried to use a paid customer support and training model, the last couple of years have shown that to be unsustainable. In 2020, pay-per-use, cloud-based services will take hold as the leading business model for open-source companies. As enterprises increasingly focus on agility and time-to-value, cloud-based services can deliver speed and scalability for customers that are willing to pay and by extension they offer a source of revenue for software companies that want to develop and monetize open-source technology.”

 

Here below is a list of trends that will (re)shape the cloud in 2020 along with the experts predictions for cloud 2020 and beyond:

 

 

  • Public cloud adoption: The buzz around cloud gives impression that everyone has adopted the cloud. This is almost true if we refer to consumer tools, such as email or online file storage, but it is much less so for businesses. In reality, 94% of enterprises are already using a cloud service and according to Gartner’s forecast, the public cloud service market is expected to reach $623.3 billion by 2023 worldwide with 83% of enterprise having their workloads in the cloud by 2020. Means cloud was already a huge deal in 2019 and it’s only going to grow in numbers!

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Vadim Vladimirskiy, CEO, Nerdio

Public Cloud Adoption Will Rise Thanks to Managed Service Providers

“Public cloud adoption will continue to rise as a result of MSPs seeking a more secure IT environment, as it’s currently a top concern causing them to rethink the continued feasibility of their practice and offerings. Public cloud is a huge comfort here because if MSPs store their data and apps with someone like Microsoft – they get the work and knowledge of thousands of people who are dedicated solely to security.

 

  • Multi- cloud adoption: In order to offload the burdens of compliance, more and more companies are looking for solutions that serve the needs of their specific industry. Therefore, public and private clouds and data centers are brought together in a multi-cloud approach to offer an unprecedented level of service and efficiency. According to Gartner, more than $1.3 trillion in IT spending will be directly or indirectly affected by the shift to cloud by 2022.

 

Karthik Ranganathan, Founder and CTO, Yugabyte

Multicloud Deployments Will Accelerate

“Multi-cloud deployments are becoming the norm in today’s enterprise. In 2020, this trend will continue to accelerate. A multi-cloud approach is critically important for organizations that run on-premise, since they need to stay in a hybrid mode when moving microservices to the cloud. As a result, we expect to see enterprises widely embrace distributed SQL databases to ensure agility without the availability constraints of traditional monolithic databases, like Oracle.”

 

David Linthicum, Chief Cloud Strategy Officer, Deloitte Consulting

Public Cloud Providers Will Need to Adopt to Multicloud

“In 2020, I also believe we’ll see public cloud providers finally accept that they will most often be deployed as part of a multi-cloud architecture. Thus, we’ll see native public cloud tools that will be focused on managing, securing, and governing several cloud brands, all from a single cloud brand. At the end of the day, this can provide public cloud providers with a key advantage that they are able to exploit to grow the use of public cloud in general. Who will be first?”

 

 

  • Hybrid- cloud adoption: In order to extract maximum benefits from using both a private cloud and public clouds, many organizations are adopting hybrid clouds. As it’s linked to the public cloud, and allows organizations to switch back and forth between their own tools, and the tools offered by various cloud providers, improves speed and flexibility. A survey from IDC has demonstrated a growth of 7% in 2019 – 58% in 2019 up from 51% 2018, of organization using a hybrid strategy. The hybrid strategy will continue to grow in 2020.

 

Haoyuan Li, Founder and CTO, Alluxi

The Rise of the Hybrid Cloud

“We’ve been hearing people talk about the hybrid cloud for the past three years now. And for the most part, that’s all it’s been – talk. 2020 is the year it gets real. But first, what does hybrid cloud actually mean? Red Hat defines hybrid cloud as “a combination of two or more cloud environments—public or private.” We are seeing large enterprises refusing to add capacity on-prem to their Hadoop deployments and instead invest in the public cloud. But they are still not willing to move their core enterprise data to the cloud. Data will stay on-prem and compute will be burst to the cloud, particularly for peak demands and unpredictable workloads. Technologies that provide optimal approaches to achieve this will drive the rise of the hybrid cloud.

 

Wally MacDermid, Vice President of Cloud, Scality

Hybrid Cloud Will Become the Dominant Architecture for Enterprises

“Microsoft Azure (Azure Arc, Azure Stack Hub, Azure Stack Edge), Amazon Web Services (AWS Outpost, VMware on AWS) , and Google (Anthos, Google Kubernetes Engine) are all investing heavily not only in solutions that connect on-premises infrastructure to their own public clouds, but also in cross-cloud interoperability and management. This blurring of lines between vendors and technologies is an excellent development for enterprises who are looking not to be locked into a single vendor, but for the best technology to solve specific business problems.”

 

  • Edge Computing adoption: The cloud is designed in large centralized data centers, and companies that need almost instant access to IT resources and data are turning to a new distributed cloud infrastructure called edge computing. Edge computing is a “mesh network of micro data centres that process or store critical records locally and push all received records to a central data centre or cloud storage repository, in a footprint of less than 100 square feet,” according to research firm IDC. Technically, it’s winning its game around data processing by refocusing the flows on the most important data in order to reduce the latency to approach real time. It is also the infrastructure of choice for another revolution, the IoT, as with the advancement in IoT, artificial intelligence, a new concept is coming in the market i.e., smart city initiatives that support the implementation of edge computing. Previously valued at USD 1,704.75 million, The edge computing market is expected to reach USD 9,325.33 million by 2025, registering a CAGR of 34. %, during the forecast period of 2020-2025.

 

Aron Brand, CTO, CTERA

Edge Computing Will Go Mainstream

“2020 will mark a notable shift in enterprise IT as the dawn of a new era of edge computing arises. The first-generation model of centralized cloud computing and storage has now run its course, and most of the new opportunities for enterprise data management reside at the edge. […] Such data growth outside the datacenter is the new reality, and it’s creating a need for enterprises to deploy computing power and storage capabilities at the network edge, aka edge computing. Enterprises are already investing in edge computing to move faster, to have data continuously available, and to improve data security. As edge computing goes mainstream in enterprise IT in 2020, edge-to-cloud architectures that manage data centrally while making it instantly available to users at the edge will be a key enabler for business success.”

 

 

 

 

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How to Deliver and Outstanding Customer Service in 2020

Customer Satisfaction 2020

 

Customer satisfaction is defined as a customer’s overall evaluation and experiences made with a certain business concerning its given products, the sales process, and the after- sale service. This overall satisfaction has a strong positive effect on customer loyalty intentions across a wide range of product and service categories (Gustafsson, 2005).

 

What a company thinks its customer wants is not necessarily the same as what they think they have to offer or they actually are offering to enhance their customer’s experiences (Hubert Rampersaud, 2001). In order to remain their positions and become the trendsetter in the new decade, companies must be careful enough if they are wondering what will affect customer experience (CX) or customer satisfaction in 2020.

 

A study by the American Society for Quality shows that 67% of customers leave a company because of an attitude of indifference on the part of a company employee, 22% leave a company because their loyalty isn’t rewarded, 34% of customers leave because of dissatisfaction with the product, 10% of customers leave for other reasons (death, relocation, etc.) and 99% of customers leave because of competitors and they believes that you don’t care about them.   Therefore, improving and personalizing customer experience is the top priority for over 55% of companies.

 

In order to have a continuous improvement of customer satisfaction, companies must respect a 4 steps cycle which starts with listening to voice and needs of customers then analyzing their comments, developing actions and at the end implementing. And to achieve a thorough customer satisfaction, companies need to implement good working condition for their employee’s satisfaction, which then will lead to loyal employees and by preparing all this, good production would be followed which will be influenced on customer satisfaction and retention by making them loyal.

 

More and more companies are implementing automation in their process for cost reduction related with customer services ‘human’ agents but a report from Forrester “Customer Service Chatbots Fail Consumers Today” shows that just 63% of consumers are satisfied with their experience with a chatbot”. Humans are still crucial to the service aspect of 2020 digital CX. They must work in collaboration with chatbots to provide the best customer experience possible.

 

Sometimes the key to your customer’s heart lies not so much in giving them what they ask for, but in anticipating what they will need and giving it to them before they ask. And you can do that by putting yourself in their shoes. Think about your memorable experiences that you’ve come across while shopping for a car, furniture, coffee, service etc. What needs and emptions you had while making a big purchase and how a company helped you or could help you to minimize your fears, make you feel appreciated and valued?

 

According to Accenture, 75% of consumers are more likely to purchase from a company that knows their name, their purchase history, and/or recommends items based on their purchase history. So, if you can guess and anticipate meeting your customer’s needs before they even know they need them, a greater success in achieving customer satisfaction and loyalty along with an enormous edge over any other competitor in your industry is guaranteed.

 

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IT Trend 2020: Hyper-Automation

IT Trend 2020: Hyper-Automation

Gartner Top 10 Strategic Technology Trends for 2020 have listed Hyper Automation as one of the biggest trends for 2020, as more and more enterprises are adopting automation in their work processes. Forrester has predicted that the global market for RPA services will hit US$7.7 billion next year and is expected to grow to US$12 billion in 2023. AI is increasing productivity through automation and is helping organizations derive meaning from ever-larger data sets.

 

Hyper-automation is the mixture of automation technologies that exist to expand and increase human capabilities by allowing organisations to automate more complex work with the help of robotic process automation (RPA) at its core, with artificial intelligence (AI), process mining, analytics, and other advanced tools that strengthen the ability to automate work. As defined by Gartner:

 

“Hyper-automation deals with the application of advanced technologies including artificial intelligence (AI) and machine learning (ML), to increasingly automate processes and augment humans.”

 

The adoption of Automation is helping organizations, that are data-driven, to be able to better respond to their customers’ demands, identify new business opportunities, improve their service delivery, eliminate all human errors, and reduce costs.  The idea is to automate more and more knowledge work, and engage everyone in an organization to be part of the transformation.

 

How is hyper automation important for enterprises in 2020?

 

Over 1 million knowledge-work jobs will be replaced in 2020 by software robotics, RPA, virtual agents and chatbots, and machine-learning-based decision management, predicts research firm Forrester in their new report, “Predictions 2020: Automation.”

Data Science, Analytics and Cognitive technologies are feeding RPA with the intelligence which is revolutionizing software automation in industries. Hyper automation offers a lot of benefits to the business by giving access to collaborative intelligence where humans and technology works side by side so that they can perform their roles optimally. As employees don’t need to perform repetitive tasks, they can be educated to work with automation tools, wisely and with intention, and learn the latest business and marketplace information through machine learning. They can also to taught how to interpret AI-enabled decision-making, find creative solutions to resolve problems and get more engaged with their jobs.

 

Simply put, once Hyper automation is incorporated into your business it will help to reduces human effort by doing a lot of work in lesser amount of time, reduce the risk of human errors as machines are calibrated for precision, improve the quality of jobs by eliminating deadly, exhausting, and dangerous for humans processes and leads to increased productivity and higher output.

 

But before any implementations, business must think and identify areas and processes where automation is really needed.  Business leaders must make a business plan and estimate the the return on investment, and of course train existing personnel to make the most of automation instead of thinking that automation will take their job.

 

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