Wintoni Group core business includes engineering, Internet, Mobile, and e-commerce software development. The technology background made perfect transition for the group to focus on B2B market place using Artificial Intelligence modules, big data analytics, and block chain formulas.
Business to business also called B to B or B2B, is a form of transaction between businesses, such as one involving a manufacturer and wholesaler, or a wholesaler and a retailer. Business to business refers to business that is conducted between companies, rather than between a company and individual consumers.
Understanding Business to Business (B2B)
Business-to-business transactions are common in a typical supply chain, as companies purchase components and products such as other raw materials for use in the manufacturing processes. Finished products can then be sold to individuals via business-to-consumer transactions.
In the context of communication, business to business refers to methods by which employees from different companies can connect with one another, such as through social media. This type of communication between the employees of two or more companies is called B2B communication.
Research firm Forrester estimated that in 2014, U.S. business-to-business retail accounted for about half of the U.S. economy’s gross domestic product, selling upwards of $8 trillion in goods.
Late in 2018, Forrester said the B2B e-commerce market topped $1.134 trillion – above the $954 billion it had projected for 2018 in a forecast released in 2017. That’s roughly 12% of the total $9 trillion in total US B2B sales for the year. They expect this percentage to climb to 17% by 2023. The internet provides a robust environment in which businesses can find out about products and services and lay the groundwork for future business-to-business transactions. Company websites allow interested parties to learn about a business’s products and services and initiate contact.
Online product and supply exchange websites allow businesses to search for products and services and initiate procurement through e-procurement interfaces. Specialized online directories providing information about particular industries, companies and the products and services they provide also facilitate B2B transactions.
Developed by Team Pixel, CHEMCO is a B2B e-commerce module cater for industrial chemical trades. By using
Sustainable green product such as recycle plastic resin is the game changer in today’s competitive industry.
Specialty industrial chemical is scares, but not impossible by using CHEMCO’s AI-enabled global sourcing platform.
Off take orders made possible with e-commerce material supply matching system using big data analytics.
B2B Relationship Development
Business-to-business transactions require planning to be successful. Such transactions rely on a company’s account management personnel to establish business client relationships. Business-to-business relationships must also be nurtured, typically through professional interactions prior to sales, for successful transactions to take place. Traditional marketing practices also help businesses connect with business clients. Trade publications aid in this effort, offering businesses opportunities to advertise in print and online. A business’s presence at conferences and trade shows also builds awareness of the products and services it provides to other businesses.
CHEMCO AI equipped account managers solve your supply chain problem.
Suppliers, buyers, and manufacturers, contact our regional office for more information.