BigCommerce has launched its new B2B Edition Invoice Portal for large B2B suppliers, manufacturers, distributors and wholesalers. The solution aims to modernise the invoice payment process for B2B enterprises. The B2B Edition Invoice Portal provides an enterprise-grade, out-of-the-box invoice payment experience that allows B2B merchants to incorporate invoice payments into a centralised online purchasing workflow through the B2B Edition Buyer Portal. B2B merchants will now have the potential to improve transaction efficiency, reduce operational burdens, and deliver seamless user experiences. BigCommerce says the B2B Edition Invoice Portal can drive brand loyalty and repeat business.
According to Isaiah Bollinger, chief executive officer at Trellis, “B2B ecommerce is still in the early stages of maturity. A major roadblock to more adoption is getting offline orders online. A large percentage of B2B orders will not be done with credit cards. Companies want to be able to see their invoices that have been paid or unpaid online. The BigCommerce Invoice Portal enables buyers to see and pay all invoices online. It will be a game changer for B2B eCommerce adoption.”
The new B2B Edition Invoice Portal serves as a vital component of BigCommerce’s suite of B2B functionalities that enhance the online selling experience for B2B businesses.
The Invoice Portal enables B2B buyers to:
- Pay multiple invoices for orders placed both online and offline. This eliminates the need for manual payment methods and enhancing the buyer transaction experience.
- Easily reconcile payments with ERP systems, improving operational efficiency for back-office teams.
- Simplify the invoice payment process by replacing legacy, standalone processes with a smooth, connected experience.
- Speed up transaction time, helping to potentially improve cash flow and reduce the risk of late payments.
“Over 60% of Doc Lane’s Veterinary Pharmacy customers pay orders on terms. Many of our customers wait to send us a paper check after they receive their billing statement at the end of each month, which is like adding an additional 1-2 weeks to their 30-day terms,” said Ryan Nesbitt, co-owner of Doc Lane’s Veterinary Pharmacy. “We’re excited to bring the invoice payment process into our site with BigCommerce’s Invoice Portal. The new portal is easy to use and will encourage many more of our B2B customers to place orders and pay invoices online.”
This innovative B2B Edition functionality directly addresses the requirements of today’s B2B industry as they modernise their business, and strengthens BigCommerce’s commitment to equipping large B2B brands with enterprise-grade tools and capabilities for growth and scalability. BigCommerce continues to invest in technology that improves the B2B eCommerce experience, making it the trusted platform of choice for businesses seeking ambitious growth.
Tackling a major pain point in B2B commerce
“With the launch of our new Invoice Portal, BigCommerce is tackling a major pain point in the B2B buying journey,” said Lance Owide, B2B general manager at BigCommerce. “We are giving B2B buyers more control to pay their invoices online and enabling syncing with the ERP. As a result, transforming a traditionally disconnected process into a seamless centralised hub. Buyers can manage offline and online transactions from one eCommerce backend.”
This new functionality comes on the heels of the latest release of B2B Edition. A comprehensive suite of B2B functionalities that feature Multi-Storefront (MSF) compatibility. A modernised B2B buyer portal and headless support that brings together next-level B2B features into one solution. This is expected to enhance the online selling experience for enterprise suppliers, manufacturers, distributors and wholesalers.
Earlier in September, BigCommerce published the results of its Global B2B Buyer Behaviour Report. The report examines the changing habits and preferences of B2B buyers in the US, UK and Australia. It suggests a continued blurring of lines between consumer retail and B2B eCommerce trends. B2B buyers increasingly expect the same experience they get as consumers. Engaging mobile responsive sites, product and pricing transparency and a frictionless checkout experience.
Enterprise Times: What this means for business
Until now, BigCommerce’s B2B solutions could not compare with the offerings from competitors such as Salesforce or Adobe Commerce. The new B2B Edition functionality appears to be an attempt by BigCommerce to bridge that gap. The solution brings invoice processes into the buyer purchasing journey. It simplifies how B2B merchants help buyers integrate ERPs and centralise payments that improve transaction efficiency and enhance user experiences.
The Invoice Portal signifies a major step forward for the company in the B2B eCommerce marketplace. A possible innovative solution to the antiquated, cumbersome and often largely manual process of invoice payments. A process long ripe for disruption that has long stood as an obstacle to the smooth flow of business.
