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12May, 2014

B2B Features: Credit Limit, National Accounts, and Net terms

Author VV Richards Category

B2B ecommerce is much talked about today, but very few appreciate the difference between features required in a B2C and B2B environment. Using a B2C ecommerce store and extending it to your B2B customers does not alone make it a B2B ecommerce store. The needs of your B2B and B2C customers are very different and no one size can fit everyone. Below, we have highlighted a few features which are critical for your B2B ecommerce store but never truly addressed by most. These features broadly covers how a B2B customer is identified (National Accounts)?, how a B2B customer purchases (Credit Limits)? and how a B2B customers pays for the purchases (Net Terms)?

  • National Accounts-National Accounts for Microsoft Dynamics GP provides the ability to define a national account relationship between multiple customers. It enables a customer to be defined as the ‘parent’ account to which ‘child’ customers may be added. This allows a payment received from the parent company to be applied across any of the child customers’ payments. Credit documents can also be applied from the child customer to any other member of the national account. For example, suppose you sell products to XYZ Corporation and XYZ Corporation has multiple stores that orders separately and receives merchandise directly. Furthermore you bill XYZ Corporation for all the orders placed by any of their stores. You can setup XYZ Corporation as national accounts and relate all their stores to the national account. With this you can manage all the stores in a uniform way. This feature is very common in Dynamics GP but imagine what you can do with a feature like this in your ecommerce store. An ecommerce store with National Account support will enable you to build a self-service store for your B2B customers, reducing the operational overhead, increasing efficiency, and increasing customer satisfaction
  • Credit Limits– The credit limit module enables you to set/ define credit limit for each customer. The credit limit is the maximum level of receivables up to which a customer is allowed to make purchases on credit. Customers can use these credit limits to make purchases both online (Magento) and offline (ERP). The modules also enable you to notify your customers on the remaining credit available to them for purchases and pending payments
  • Net terms-Net Terms is used to define the payment schedule for the purchases made on credit limits and are available in Dynamics GP. With the Net Terms module, this feature is extended in Magento and it defines the timeline for payment. This extension has the ability to assign net terms to customer, customer groups and an order of an assigned customer and group. And the assigned net terms will be shown on front end as per the group and user as read only field

The three features mentioned above National Accounts, Credit Limits and Net Terms are all available out of the box in our EGE solution. Moreover the same information is also synchronized back to your ERP system for a streamlined business operation and seamless customer experience.

How i95Dev can help?

For more information on B2B modules please feel free to contact us at: http://www.i95dev.com/contact/ or give us a call at 301.760.7499.We would be more than happy to serve you and help with our expertise to boost your business.

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B2B Features: Credit Limit, National Accounts, and Net terms