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How and why B2B eCommerce is accelerating faster than B2C

Welcome to the world of E-commerce, where business transactions are just a few clicks away due to its convenience, accessibility, and potential for increased revenue. While most people associate e-commerce with B2C companies like Amazon and eBay, Alibaba an interesting trend is emerging. Over the years, B2B eCommerce has been growing at an unprecedented rate and now stands ahead of B2C in terms of market share. In this blog post, we’ll explore the reasons behind this shift and how it’s set to revolutionize the way businesses operate worldwide.

B2B e-commerce is growing faster than B2C

In recent years, the B2B eCommerce sector has been growing at an unprecedented pace. In 2022 the global B2B e-commerce market size was valued at USD 7,907.07 billion and is projected to grow at a Compound Annual Growth Rate (CAGR) of 20.2% from 2023 to 2030. What’s driving this growth? One significant factor is the shift towards digitization in business operations. Businesses are increasingly embracing digital technologies to streamline their operations and improve their customer experience. The increasing adoption of technology and digitization in businesses has led to a shift towards online transactions. With the rise of smartphones and other mobile devices, it has become easier for businesses to purchase goods and services online.

As a result, B2B e-commerce platforms are becoming more sophisticated, offering features like real-time inventory tracking, personalized pricing, and more. Unlike B2C companies where consumers purchase goods and services for personal use, B2B deals with transactions between businesses themselves or organizations that require products on a larger scale than individuals. The sheer demand for such large-scale purchases lends itself to digital channels as they offer greater convenience and efficiency.

Furthermore, there are numerous benefits associated with B2B eCommerce compared to traditional methods of procurement. It can lead to cost savings by streamlining supply chains and reducing intermediaries’ involvement while also enabling quicker turnaround times, faster processing times, increased transparency, and improved customer experience. Through B2B e-commerce platforms, businesses can find suppliers quickly from anywhere in the world while reducing their operational costs. B2B e-commerce allows businesses to reach a global audience and grow their customer base beyond geographical boundaries. With B2B e-commerce, businesses can expand their operations into new markets without having to invest in physical stores or locations.

Additionally, B2B buyers are looking for personalized experiences similar to those they encounter in B2C e-commerce. They want intuitive user interfaces, personalized product recommendations, and fast, responsive customer service which is achievable with B2B e-commerce platforms. With the rise of AI and machine learning technologies, B2B e-commerce is offering more sophisticated product recommendations, predictive analytics, and automation capabilities. Buyers can quickly search for products, place orders online, receive quotes, and track shipments in real-time at any time of day through various devices such as computers, tablets, or smartphones. This eliminates the need for traditional methods such as phone calls or fax orders, which are more time-consuming.

For sellers, B2B e-commerce enables automated inventory management systems that help maintain accurate product information across different sales channels while reducing errors associated with manual updates. As a result, sellers can significantly reduce overhead costs associated with order processing. Moreover, data analytics from B2B transactions helps companies identify trends in buyer behavior enabling them to make informed decisions on product offerings based on market demand.

In short, the rise of technology has transformed how businesses operate worldwide – thus leading to a surge in demand for online platforms capable of handling bulk transactions more efficiently than ever before. Thus, the future of B2B e-commerce looks bright, as businesses continue to embrace digital transformation and look for new ways to improve their operations and customer experience.

The future of B2B e-commerce

As we move into the future, B2B e-commerce is only going to continue accelerating and surpassing B2C. With advancements in technology, such as AI and automation, businesses will be able to streamline their processes even further and provide an even better experience for their customers.

Furthermore, with many companies operating remotely during COVID-19 pandemic lockdowns worldwide; it became essential for them to adapt by going digital quickly. This pushed even those hesitant about e-commerce into experimenting with digital solutions – leading to a boom in B2B e-commerce growth! This means that B2B e-commerce is becoming more crucial than ever before.

B2B e-commerce has come a long way from its early days of simply placing orders online. It now offers a wide range of benefits to both buyers and sellers alike. As it continues to evolve and improve over time, we can expect it to become an increasingly integral part of business operations across industries.

COVID-19: Companies Journey toward Digital Expansion to become Faster, more Productive and more Responsive

05 April 2021
by: Aisha Javed
in: BlogPost
Tags: #ApplicationModernization, #applicationsecurity, #ArtificialIntelligence, #covid, #datadriveninsights, #DIGITAL, #DigitalBusiness, #digitaleconomy, #digitalexpension, #EdgeComputing, #MultiCloud, AI, Saas
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Digital transformation progress

Our everyday life and way of doing things are completely changed since COVID19 started. It has accelerated the global digital transformation, according to the most recent F5 State of Application Strategy survey (SOAS). The seventh annual edition of this study is based on a survey of 1,500 participants from various industries, company sizes, and positions.

The need to adopt digital services across industries, geographies and communities is accelerated due to the dramatic shift in remote work and social distancing so that companies can improve their connectivity to interact with customers.

Business leaders have recognized digital technology as a key driver of revenue and raced towards digital transformation within their company. Here, below, are the key findings of the F5 survey:

AI-assisted business has tripled.
Applications continue to be modernized rapidly, with APIs a method of choice.
The importance of SaaS-delivered security is rising as organizations work to unify security across distributed applications while managing more architectures than ever.
Architectural complexity makes multi-cloud availability an imperative, and edge deployments are increasing, too.
Telemetry will take us to the future—but now, nearly everyone is missing the insights they need.

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Future-ready organizations are working to improve connectivity, reduce latency times, guarantee security and use data-driven insights. There is increasing interest in public cloud and SaaS, edge computing, and seeking application security and delivery technologies that are easy to deploy and provide data for decisions.

Modernization remains the top priority when it comes to operating on both modern and traditional application architectures for more than 87% of organizations that’s 11 percent more than in 2020. Additionally, almost half of all companies – 30 % more than last year – manage at least five different architectures.

Since last year’s SOAS report, the growth of AI and machine learning has more than tripled to 56%. This means that more and more companies are in the late phase of digital transformation. 57 % of those surveyed have begun digital expansion, an increase of 37 % compared to the previous year. This shows an increased focus on business process automation, orchestration, and digital workflows to integrate applications. 77% are already modernizing internal or customer-oriented apps, which is 133% more than in the previous year.

Additionally, two-thirds of respondents use at least two methods to create modern workloads, a mixture of traditional and modern application components. Of the companies with only one method, 44% say they use modern interfaces, either via APIs or components such as containers. More than half of the respondents already use infrastructure as code. Organizations using this approach are twice as likely to deploy applications even when using automation. They are also four times more likely to use fully automated application pipelines.

Companies are realizing the potential of edge computing. It enables new services and better performance by placing applications as close as possible to the sources and users of data, situation may vary for each industry and business function. Of course, COVID-19 is an accelerator due to the distribution of labor. No less than 76 % of those surveyed are using or planning edge implementations. The top reasons are to improve application deployment, performance and data available for analysis. In addition, 39% believe that edge computing will be strategically important in the years to come. 15% already host technology for app security and delivery at the edge. More than a third of companies (42%) will support a fully remote workforce for the foreseeable future. Only 15% plan to bring all employees back to the office.

Companies are creating and collecting more data than they have at any point in the past. All this data is coming from different sources. However, according to surveys, sufficient data does not necessarily deliver the insights companies really need. More than half of the respondents already have tools that assess the current state of applications. But an alarming 95 % say that they are missing important findings from the existing monitoring and analysis solutions. Accordingly, the collected data is primarily used for troubleshooting, followed by the early detection of performance problems. Almost two-thirds of respondents (62%) measure performance in terms of response times. Less than a quarter of companies use them to uncover degradation in performance. And only 12 percent forward the data to business areas.

More than 80% of respondents believe that data and telemetry are “very important” to their security, and over half are excited about the positive effects of AI. Participants also named platforms that combine big data and machine learning (also known as AIOps) as the second most important strategic trend in the next two to five years.

In many ways, the coronavirus pandemic has challenged businesses and governments around the world. In order to rise to the challenges caused by the pandemic, businesses have modernized and distributed applications in short term. Digital technologies have allowed many organizations to avoid a complete standstill, due to unexpected and urgent shifts in work. Companies must continue to discover and implement AI and other digital technologies for the continuity of their business.

The full report can be downloaded here: The State of Application Strategy in 2021

Is Your Public Cloud Data Secure?

11 May 2020
by: Aisha Javed
in: BlogPost
Tags: #AWS, #AZURE, #CLOUDADOPTION, #CLOUDCOMPUTING, #covid19, #dataencryption, #DIGITAL, #Digitalization, #dlp, #IAM, #PublicCloud, Google
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Is Your Public Cloud Data Secure?

With advancing digitalization, business requirements are also developing rapidly. The rise of cloud applications shows no signs of slowing down. More and more organizations continue to adopt cloud computing at a rapid pace to benefit from increased efficiency, better scalability, and faster deployments. According to a report by Linker, the global public cloud computing market is expected to reach $623.3 billion by 2023. The rapid provision of business applications for the introduction of new, improved business processes is central. Many companies consider outsourcing workloads to the public cloud as a priority. High availability, scalability and cost efficiency open up the possibility of implementing innovative operational developments with little effort.

As more workloads are shifting to the cloud, cybersecurity professionals remain concerned about the security of data, systems, and services in the cloud. the public cloud exposes business to a large number of new threats. Its dynamic character makes that relying on traditional security technologies and approaches isn’t enough. Therefore, many companies have to rethink the risk assessment of the data stored in the cloud.

While moving their workloads into public cloud, companies think that their business is automatically protected. Unfortunately, this security is not certain. Amazon, Microsoft and Google do indeed partially secure their cloud, but it is not their core business or priority. So, in order to cope with new security challenges, security teams are forced to update their security posture and strategies.

A report by RightScale shows that average business runs 38% of workloads in public and 41% in private cloud. Usually, enterprises run a more significant part of their workloads in a private cloud (46%) and a smaller portion (33%) in the public cloud. Small to medium businesses, on the other hand, prefer to use a public cloud (43%), instead of investing in more expensive private solutions (35%).

The cloud computing statistics also show the public cloud spend is growing three times faster than the private cloud usage.

For this survey 786 IT professionals were questioned about their adoption of cloud infrastructure and related technologies. 58% of the respondents represented enterprises with more than 1,000 employees. For majority of them, more than 50% of enterprise workloads and data are expected to be in a public cloud within 12 months. More than half of respondents said they’ll consider moving at least some of their sensitive consumer dataor corporate financial data to the cloud.

Even tough public cloud adoption continues to accelerate 83% of enterprises indicate that security is a is one of the top challenge, followed by 82% for managing cloud spend and 79% for governance.

Workloads and data in a public cloud for all organizations

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Securing the environment in the cloud is one of the biggest challenge or barrier in cloud adoption. If companies want to protect their data in the cloud, they must ensure that the environment is used safely. This requires additional measures at different levels:

Secure access with Identity and Access Management (IAM)

As the data stored in cloud can be access from any location and any device, access control and whitelisting are among the first and strongest measures to safeguard your cloud. Managing people, roles and identities is primordial in cloud security.

In most companies, user rights for applications, databases, and content are maintained manually in separate access lists. Regulations for dealing with security-relevant technologies are also kept in other places. The lack of automation and distributed access management prevent identity or context attributes that are needed for dynamic Identity and Access Management (IAM) from being considered.

Building an identical repository with clearly defined type of access for each user identity and strict access policies is therefore the first step in the dynamic handling of access rights. For example, it can be specified that employee X login is only permitted from certain geographic locations by secure network connection to access only a selected numbers of files.

While these policies can be managed by different individuals with appropriate authority in the organization, they must exist in a single, reliable, and up-to-date location – across all resources, parameters, and user groups.

Data loss prevention (DLP)

As data is one of your organization’s most valuable assets, protecting it and keeping it secure must be one of your top priority. In order to accomplish this, a number of DLP controls must be implemented in all cloud applications at various levels and allow IT administrators to intervene. «DLP (Data loss prevention) is the practice of detecting and preventing confidential data from being “leaked” out of an organization’s boundaries for unauthorized use. Data may be physically or logically removed from the organization either intentionally or unintentionally. »

Data Encryption

Sensitive data may not be transmitted through public networks without adequate encryption. Therefore, one of the most effective cloud security measure that you can take is to encrypt all of your sensitive data in the public cloud. This includes all type of data such as the data at rest inside the cloud and archived and backed-up data, or the data in transit as well. This allows you the complete protection in case of any data exposure, as it remains unreadable and confidential based on your encryption decisions. By encrypting properly data, organizations can also address compliance with government and industry regulations, including GDPR.

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