B2B commerce network operators and service providers to digital marketplace are like any other businesses in one respect: They’re always looking for an edge. Typically they look to technological innovations to deliver that edge. Faster networks. Greater connectivity. Stronger security. Higher capacities and transaction volumes.
But true differentiation requires more than turning someone else’s innovations to your advantage. It requires some innovation from within. Like developing creative new service offerings. New ways for customers to collaborate. Or groundbreaking new financial offerings.
There’s no question that innovation will become more critical than ever to B2B commerce network operators as the market grows and competition intensifies. The question is, what’s the key to unleashing innovation and creating novel service offerings that will deliver business advantages now and into the future?
The answer is a B2B transaction system that is purpose-built to increase collaboration across the supply chain.
Giving buyers and suppliers the capability to interact in real time—making it easier not only to communicate but also to exchange rich transaction data and execute transactions instantly—can accelerate both the pace of commerce and innovation. For example, it can spark the creation of new value-added services such as dynamic discounting, factoring, supply chain financing, conditional payments, and new foreign exchange and related services. It makes it easier for trading partners to negotiate and take advantage of better deals and better terms.
Equally important, by offering trading partners the ability to collaborate and execute transactions in real time, B2B commerce network operators can gain valuable insights into which types of new services are of highest value to their customers—and they can develop their own value-added services to address these needs.
Simply put, by removing the barriers to collaboration among trading partners, B2B commerce network operators can open the door to new innovations and create new business advantages.
The Traxpay website is full of information about how the Traxpay Dynamic Payments platform delivers on the demands of modern B2B commerce. Take a moment to consider the value of that capability in a new light: Not just how it speeds the pace of B2B commerce, but how it can amplify the ability of B2B commerce network operators and service providers to innovate.