If it seems like every day more of your customers are asking you to participate in B2B collaboration, there’s good reason. By eliminating barriers to shared information and extending visibility beyond the walls of the organization, B2B collaboration lets them—and you—cut costs and maximize efficiency, making it easier to deal with the pressures of a complex global market. As a seller, you gain in other ways as well. Partnering with customers to achieve mutual goals helps you build trust and strengthen relationships, enabling you to grow sales by 40+ percent and increase customer retention as much as 48 percent. And that’s only the beginning.

 

What Is B2B Collaboration?

Accepting your customer’s request to join the Ariba® Network is a key first step towards B2B collaboration, which is enabled when buyers and sellers fully automate their orders and invoices to allow straight-through electronic processing of the order-to-cash cycle. Supported by back-end integration, direct connectivity, or touchless processing, B2B collaboration provides the information and control you need to accelerate processes, improve strategic decision-making, sell better, and deliver more of the personalized attention buyers want—including a highly customizable, consumerized purchasing experience—without adding staff. This makes your life easier in many ways, helping you to:

 

  • Reduce stress in your day-to-day interactions with customers
  • Eliminate repetitive manual tasks, like rekeying orders and invoices
  • Get paid faster and lower DSO by an average of 22 days
  • Shorten the order-to-cash cycle 65 percent
  • Shrink order and invoice processing costs as much as 75 percent
  • Cut order and invoice error rates 50 percent or more

 

Yet despite these heady-sounding benefits, plenty of sellers still hang back, wanting to take advantage of B2B collaboration but daunted by the challenges of implementation. If you’re one of them, take heart. New cloud-based software-as-a-service (SaaS) solutions are making B2B collaboration more accessible than ever, offering resources and support that let almost any business participate.

 

In the Next Blog We'll Tackle B2B Collaboration Hurdle #1 - Lack of Infrastructure or Resources

 

If you don't want to wait until tomorrow to learn more, then go to the Supply Lines group to read the full article.