The ecommerce business world is expanding at a fast pace and software companies are developing new features to keep pace with the demands of the websites. Magento 2 has recently released a newer version this September, Magento 2.2, which includes various new features that help to improve upon the B2B or Business to Business functionalities. This particular focus on the B2B features only makes sense when you are going to consider the rapid growth of the B2B market. With this realization, many online business owners are migrating from Magento 1 to Magento 2 development in order to add latest functionalities to their ecommerce store.
Here in this article, we will take a look at what the latest version Magento 2.2 has for the B2B marketplace:
Latest account management tools: Advanced account management features are added to the latest version for both the customers as well as the web store managers. The customer service tool offers the B2B customers the facility to manage and request their own company accounts. And for the web store merchants, there are extended features that help to organize and categorize the customer information accordingly. This includes the ability to export as well as import the customer lists and designate sales representatives to the selected accounts.
Drive negotiations with customers:
The latest version of Magento encourages customer negotiations, so that it improves the relations between the buyers and also increases the sales of users. The quote summaries give the merchants the information that they need to calculate potential discounts and optimize the returns from proposals. Merchants can quickly respond to the proposals with price changes and special shipping offers together with recommendations from some alternative products. Quote expiry dates can also be set to encourage quick customer action.
Control catalogue and shared buyer accounts:
Magento 2.2 development allows the ability to have numerous buyers share a single account and also enables the store owners to define the customer catalogue access. The latest version has the management of buyer permissions and account roles already implemented into the platform from the very beginning and this enables to set unique restrictions between individual buyer’s accounts.
Manage and receive quote requests:
This feature allows the B2B customers to request quotes from their shopping carts and not only this, customers can also include supporting comments and documentation with the quote requests and also track the status once they are issued. The merchants can easily monitor and also customize the quote requests through the quote management panel.
Enhance the shipping options:
Some features that are available with Magento 2.2 help to improve the B2B operations and help to reduce the overall shipping related costs. The latest features automate the primary shipping processes and the tools help to organize the loading and dispatching of the products from any location.
Allow customers to make payments on credit:
Earlier, PayPal and credit card payments were the only means to carry out transactions on Magento without any extensions. But with the latest 2.2 Magento version, a payment on credit option is now available. The merchants can now easily configure their store’s credit options and also maximize or minimize the order limits and credit restrictions for specific countries.