September 3, 2020

Redefining B2B eCommerce with
Magento 2.4 Post COVID-19!

Author i95Dev Admin
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Although, COVID-19 crisis had a significant impact on all the businesses, they are slowly making a come back. Be it a small, medium or a large business, COVID-19 has completely changed the way every one of them operates. While some businesses made a quick shift and moved to eCommerce, some others had to take innovative steps to serve customers better. And, Magento 2.4 steps in right in time and it comes with new B2B capabilities that are beneficial for both B2B sellers and B2B buyers.The new release of Magento 2.4 opens up a whole new world for B2B businesses.

Some noticeable facts & impact on businesses post Covid 19 Changing business models, 65% of new sales models have been introduced to the market and 80% of them are predicted to sustain.

Driving digital growth: Digital sales have seen a 40% rise, while there was 24% growth in eCommerce revenue since the arrival of COVID-19.

Magento Commerce 2.4 addresses critical B2B needs, Magento 2.4 introduces amazing new features that redefine B2B eCommerce during this tough situation. B2B tasks that are usually thought to be time-consuming, can now be carried out at ease with Magento 2.4 release.

  • Spending Control Approval workflows: Multiple tier approval workflows are generally considered as exhausting and time taking processes. Magento took note of this and built a bunch of features to fulfill the common requirement in B2B purchasing.
  • Benefits to the B2B sellers:This feature will enable B2B sellers to attract new businesses and grow online sales by supporting customers’ purchasing policies.
  • Benefits to the B2B buyers: B2B buyers can enjoy great convenience and faster ordering with a streamlined pre-purchase approval process.
  • Ensures spending control for online purchasing.

Magento 2.4 approval workflow feature highlights:

  • Empowers buyers to create personalized approval rules based on multiple attributes.
  • Streamline purchasing with the automated approval process and added features like email notification to approvers, etc.
  • Purchase order transparency to help B2B buyers via timely notifications, order history, comments and approval workflow tracking system, etc.
  • Ensure the negotiated and approved quotes.
  • Assign approval permissions and rules based on the designated approvers and roles.
  • Compatible with any offline payment method.
  • Super responsive design.

Sales & Customer Service

  • Seller assisted shopping
  • This feature allows B2B sellers to offer exceptional service.
  • It provides capabilities like admin access to enhance buyer experience, the ability to place orders & troubleshoot issues, and more.

Maintains security and control:

  • No access to customer passwords.
  • Sessions dissolve when an admin logs out.
  • Action and order logging.
  • ACL to regulate rep account access.

Performance & Efficiency

Faster ordering & reordering, the feature accelerates B2B purchasing by:

  • Up to 50% faster re-ordering for large orders and 30% faster quick order with add-to-cart functionality.
  • 11% faster configurable products.
  • 25%- 43% faster page loads.
  • Better network optimization with Redis.

Improved search functionality:

Enhanced features allow users to search and filter by:

  • Order or invoice number & status.
  • SKU/ Product name.
  • Person who created the order.
  • Date/ Value range.

Conclusion

With decades of experience serving B2B clients, we assure that Magento has only benefits for B2B businesses. We understand the current pandemic situation and we are here to help you out in the B2B eCommerce space.

Have a look here to know how we build a completely new & easy world for our B2B clients:

Contact our B2B Magento Commerce experts now!

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