In a move planned to simplify B2B eCommerce, Hong Kong-based Freightos.com has grown its online B2B digital infrastructure. The technology lets firms in the B2B space make an order, see freight choices and fees, and handle the shipment’s status in a similar way to people ordering on platforms such as Amazon.com, American Shipper reported.
The company’s move is the newest effort to bring the technologies that have been around in the business-to-consumer (B2C) fulfillment sphere for a while to international B2B, according to the report.
Freightos Chief Marketing Officer Eytan Buchman told the outlet that an important contrast in the bolstered model is that the technology will be inserted into the sites of vendors. As a result, purchasers can make the deal complete sans exiting the site. A company in the past would make an order on the vendor’s site and subsequently change over to a logistic company’s website to set up freight.
A corporate purchaser inputs the destination of a delivery at checkout, and the website then transmits an application programming interface (API) message to Freightos and gets freight choices throughout a collection of companies, according to the report. The freight transaction can be reserved at checkout, and documentation is offered in a live fashion. After that time, freight management and monitoring comes through the vendor’s site or on an interface with shared branding.
Even though the B2C eCommerce boom has arguably already happened, the coronavirus situation is bringing about another tide of online commerce adoption. Due to stay-at-home requirements and social distancing, foot traffic at brick-and-mortar stores remains decreased, leaving companies to embrace the eCommerce model like never in the past.
But this trend isn’t reserve for the B2C sector any longer. B2B eCommerce is a thriving market that, in the present day, is expanding even faster as a result of COVID-19. Frost & Sullivan estimates earlier in 2020 forecast that the B2B eCommerce market would reach over $6.6 trillion worth of sales — much more than the forecasted $3.2 trillion created in the B2C market.