Unleashing Digital Transformation: Overcoming Challenges in B2B Transactions

Why are B2B transactions not fully digital? even when B’s are digital and/or undergoing a ‘digital transformation’ ? (My PoV: it is hard but it need not be)

– Digital B2C has lots of lessons to learrn from, yet B2B digital is much much more tougher to crack.
– Remember how much time you spent on buying your best/next laptop. May be 4 hrs or more. Now imagine buying medical grade products as an organization.
– Organization classification, product classification, product specs (spec standardization and/or taxonomy), search and discovery are key .
– In B2C products are ‘kinda’ finished even when its a DIY kit. With B2B there is almost always a requirements spec (if not an RFP).
– Terms of delivery, terms of payment, issue-redressal, support are all needed.

Above does seem hard, so then, why am I saying it need not be hard?

– Detailed product spec is not always a necessity for search and even early stages of discovery. Fuzzy match between players is ‘OK’ (remember ocassional odd-ball product that comes up when you search for something else on an ecommerce platform)
– B2B Transactions are some what simpler and repititive after the initial fricitional match. (like ‘subscribe’ in ecommerce).
– e-invoicing, e-way bills, networks like ONDC, standardization of logisitics are all super helpful from commerce perspective.

More needs to happen nonetheless.

This post was later published on LinkedIn here.