Let's talk!

Configurator Software Powers B2B eCommerce

• Posted by kb max April 24, 2023 Filed in Business #Price  #CPQ Software  #cpq solutions  #CPQ system  #configurator software  #configure  #quote solution  4 views
  click to rate

  Some intriguing statistics: 2022 was the first year B2Bs became more likely to offer eCommerce over in-person sales, with 65% of B2B companies exclusively selling online. And in the manufacturing sector, nearly 70% of shipments originate from online channels. 

  The growth of B2B eCommerce is astounding. But when we hear these stats, we assume they apply to the US. However, they do not; they are worldwide data. And while the North American B2B eCommerce market will reach $1.8 trillion in 2023, Asia still makes up roughly 80 percent of it.

  Some countries are far ahead of the game in manufacturers, such as China, which means that manufacturers in the United States and Europe have a huge opportunity to step up and surpass their national counterparts.  They just need the right software to help.

  As a company intending to implement B2B eCommerce, the major software you will require is a B2B eCommerce platform. This service enables you to sell things to other businesses via digital transactions.  You then need to start layering other solutions on top through native or third-party integrations to add additional functionality to your website. But where to begin?

  Manufacturers offering complicated configurable products--or any organization that wants to provide customers with immersive eCommerce experiences--should turn to configurator software first.  This article explains why.

  Read on to discover how configurator software can revolutionize your business and dramatically increase profitability.

  About Configurator Software

  Configurator software is a powerful solution designed to create and display configurable products. It’s often used in the manufacturing industry, where products are complex with many options, and users need a tool to streamline and automate the configuration process.

  Through an interactive user interface (configurator), visual configurator software enables sales representatives, engineers, and end users to see and configure items in real-time. Typically web-based, this configurator can be integrated and embedded in the company’s website, empowering all user groups with the autonomy to design products according to their unique preferences and budget.

  Deployment of Configurator Software and CPQ

  A thorough CPQ (configure, price, quote) solution frequently includes configurator software. The CPQ system incorporates a visual configurator allowing users to interact with product options while generating real-time pricing and quotes. 

  Users of CPQ get the details they need to configure items and move quickly through the buying process. This boosts conversion rates and expedites sales significantly. On average, Epicor customers experience a remarkable 40% increase in conversion rates.

  Quickest Pricing With CPQ

  With high-quality CPQ software, businesses can provide not just the quickest but also smart pricing. The software includes pricing agility and flexibility by incorporating various pricing strategies—such as discounts, promotions, customer-specific pricing, fluctuating costs, and even live competitor prices. This capability of dynamic pricing enables companies to maximize their profit margins on each transaction without losing out on good possibilities.

  Is Configurator Software Power to Boost B2B eCommerce?

  B2B eCommerce is developing at an incredible rate. Today, a website can be developed in a matter of days for less than $100 each month, compared to a decade ago when it would have cost $100,000.

  With current developments in AI, it wouldn’t surprise me if the same website could soon be generated for pennies in a couple of minutes.

  The secret to long-term success with B2B eCommerce isn't just having a website or just mimicking the experience clients have when speaking with sales representatives. It's about upgrading the purchasing experience and making it faster, more adaptable, more convenient, more realistic, and more appealing than ever before. 

  The simplest approach to implementing configurator software is to provide an improved purchasing experience. It streamlines the configuration process and offers immersive 3D visualization capabilities that improve efficiency and product understanding while driving engagement.

  7 Trends of B2B eCommerce that Align with Configurator Software

  B2B eCommerce is constantly changing. Many businesses believe they can no longer catch up to the digital leaders because they have already fallen too far behind. This fear is understandable but unfounded. By integrating configurator software into the eCommerce experience, businesses can quickly and easily bridge the gap, surpassing customer expectations.

  The following are the most recent eCommerce trends and how configurator software solves them successfully. 

  • Custom-made

  A recent McKinsey & Company survey involving 3,500 decision-makers revealed that buyers seek "more channels, more convenience, and a more personalized experience." Invest in B2B eCommerce efficiently manages channels and convenience while configurator software solves the customizing component.

  Configurator software drives personalization in two ways:

  • It allows customers to tailor things to their requirements.

  • It could be set up to provide a tailored message, prices, catalogs, suggestions, and extensive customer history to consumers. Seamless CRM integration enables these tailored experiences. 

  • Mobile-First Buying

  With high-quality configurator software, buyers and sellers can browse, customize, and, depending on the product, place orders from anywhere globally at any time.  

  • Worthwhile 

  The growing sustainability is the biggest concern for partners, regulators, and potential customers. Research suggests customers are 4.3 times more loyal to eco-friendly businesses. By speeding the design and production process, lowering material waste, and improving resource use, configurator software can support businesses in becoming more sustainable. Precise customization ensures products are tailored to meet specific needs, minimizing overproduction. 

  • Unified Commerce Experiences 

  Nowadays, consumers want more freedom and alternatives when it comes to how, when, and where they interact with your business and buy your items. B2B eCommerce adds a crucial dimension to your offerings. A smooth omnichannel purchasing experience is possible, which also helps sales professionals, distributors, and other channel partners.  By utilizing a shared back-end across all channels, customers can effortlessly transition between them without starting from scratch each time. This ensures cross-channel consistency and convenience. 

  • Self-reliant Searching 

  More and more buyers want freedom in decision-making, preferring to research product options at their own pace and on their terms. Configurator software, with its 3D visualization functionality, provides customers with a crystal-clear understanding of your product selection, accessible around the clock for their convenience. 

  • Instant and Self Buying 

  Buyers desire to place orders without speaking to sales after becoming familiar with your product line. By integrating configurator software with your eCommerce platform, customers can instantly purchase customized products without any human interaction.  

  • Quicker Delivery  

  CPQ solutions include configurator software, which power the entire engineer-to-order process. They initiate workflows from the shopping cart to the shop floor, encompassing automated pricing approvals, CAD and BOM automation, inventory checks, and logistics integration. 

  As a result of all of this automation, efficiency levels are raised due to shorter lead times, quicker product delivery to clients, and shorter holdups.

  Summing Up

  By providing tailored, practical, and immersive experiences that fit the changing expectations of modern purchasers, configured software plays a crucial role in helping firms adapt to new B2B eCommerce trends.

  Here are three key takeaways:

  1. eCommerce for businesses to business is expanding quickly. Though a large portion of this development is concentrated in Asia, there are enormous prospects for US businesses that pioneer immersive internet retailing.
  2. Configurator software is critical to success for companies that deal with complicated items and desire to sell and provide profound experiences on the Internet. Integrating with CPQ enables 3D visualization of configurable products and real-time pricing and quotes, leading to increased conversion rates and optimized profit margins.
  3. Configurator software covers developing B2B eCommerce themes such as personalization, sustainability, independent discovery, multichannel, and speedy fulfillment.