Demand for Modern Tech Device is driving B2B e-commerce

Authored by: Ameen Khwaja, CEO, LatestOne.com

E-commerce is the key of development in the present market. The commerce market has always been the major part of public attention but due to the development, advancement and revolutions in this industry, it is possible to avail higher level advantages for all kinds of customers. The most important thing that E-commerce has enhanced is the accessibility and availability of the products. Due to the results of the changes that have taken place in due time, now people would be able to get every single product at their doorstep without worrying about their location.

B2B Model: B2B implies that dealer and purchaser are a business entity. B2B covers a lot of application uses which empower business to shape associations with their merchants, affiliates and suppliers etc.

Aspects of B2B web based business:

• Electronics
• Motor Vehicles
• Shipping and Warehousing
• Paper
• Petrochemicals
• Office products
• Agriculture
• Food
• Fashion accessories
• Mobile accessories

B2B E-commerce Key Technologies Uses:

• Electronic Data Interchange (EDI) − EDI is considered to be inter hierarchical exchange of business records in an organized and machine processable configuration.
• Internet – In this matter, Internet will represent online market of the World Wide Web or network connecting systems interface over the world.
• Intranet: Intranet will represent a complete dedicated computer system inside a solitary organization.
• Extranet − Extranet will represent a system where outside business partners, provider or clients can have constrained access to a bit of enterprise intranet or network.
• Back-End Information System Integration: Back End data frameworks are database administration frameworks which are used to deal with the business data.

Of course, when we talk about gadgets then availability and accessibility becomes one of the most common concerns for people. Although the technology has reached to the level where we can easily enjoy the presence of advanced device features at our home, the accessibility of the product still was a major issue. However, this issue is not becoming less and less complicated with the popularity of modern tech devices.

This is the opportunity that allows everyone to get approachability to all different kinds of devices in their area. More and more brands are connecting with the collection of modern tech device which makes it convenient for customers. Most importantly, modern tech devices are available for customers that allow people to get everything that they need in their device. In short, it will allow customers to get completely customized device which will fulfill their requirement as per their expectations.

According to the recent report that was published by Forrester, it is predicted that the sales of B2B e-commerce is considered to reach to the level of $1 trillion by the year 2020. This is prediction based on evaluations of progress of e-commerce market. There were several analysis and researches behind this conclusion which makes it highly possible that this conclusion of e-commerce sales will come true.

With the help of B2B e-commerce, it has become possible for everyone to get wider product approaches. It is possible for businesses to purchase goods as per their requirement and this will not be only from company’s official website, but they can also purchase the goods from different software platform based marketplaces and networks online.

It is also an important fact to consider that B2B e-commerce has been changed ever since the start and evolution of modern technology in devices. There were already so many options available in the market from a very long time. However, it was not possible for everyone to avail them. All thanks to the advancement of modern tech in device range, it has become possible to get a proper approach to the products in the market for companies as well as for customers.

Major reasons that makes modern tech device important for B2B e-commerce:

• Modern tech based device offers Completes end-to-end e-commerce capabilities to customer and company. This does not end with the single side benefit. If it is advantageous for company, then this will also be advantageous for the customer. This is the major point that makes it suitable for the B2B e-commerce and this drives a revolution in the market.
• It is possible for modern tech device to give the assurance of competitive wholesale prices for everyone. However, this does not affect the quality of products negatively which makes that the quality of the products that are being sold on the platform will be perfect so that it can be used with its best potential.
• Modern technology allows companies to cut product costs that are purchased which will reduce inventory levels and it will also be helpful to improve market speed for the product dealers or retailers
• Modern technology based devices can offer complete access to easily source all different kinds of products from one particular location instead of going through multiple vendors. This makes the procedure less complicated. Also, this is the process that saves a lot of time and efforts.

Since the start of the B2B e-commerce market, there has been many players and they have played important part in overall progress of our e-commerce marketplace. If we take examples of B2B e-commerce platforms, then we can consider Amazon, Flipkart, etc. These are some popular B2B e-commerce platforms that are successful in the Indian market.

Challenges of B2B e-commerce marketplace

Along with its advantages, B2B e-commerce also has its disadvantages and that is the cause of marketplace challenges for the company. In order to be a successful e-commerce player, there are certain obstacles that need to be handled efficiently. In the Indian B2B e-commerce marketplace, it is really very important to develop a solid business and logistical connections with exporters and businesses. This is important becomes it provides the assurance of modern technology incorporation in the most efficient manner and this will also result in smooth product delivery. I personally believe Indian B2B segment is not explored properly; we have multiple opportunities to come up with innovative business ideas.

Mr.Ameen Khwaja is the Founder and CEO of LatestOne.com

LatestOne.com is the brain child of Mr.Ameen. He is the visionary behind its remarkably successful journey beginning from its inception, to achieving Rs.100 cr turnover business; as it exists today, within a short span of 18 months. Consequently, it took a leap by gaining Rs.50 cr investment. The company is growing consistently with 200 employees, 10000 SKUs, two warehouses, and is adding more.

A keen techie, Mr. Ameen Khwaja, is an alumnus of University of East London and graduated as an Electronics Engineer with a Major in Robotics. He started career at the age 20, by working on freelance website development projects. In 2004 he started Premium Web Services with his innovative business idea. Before its merger in 2014, the company has added more than 200 e-commerce websites to its portfolio. Nooridresses.com, DressyCostumes, theflatware and many specially developed e-commerce websites for US markets are a few to quote.

Specializing in digital media and brand building, Mr.Ameen was associated with many organizations during his career. Prior to LatestOne, he worked as digital marketing consultant to several industrial bigwigs such as Qwest, Public Storage, AIG, Kwikfit, Tempcover UK, and Admiral.

Deals15.com was the first Indian e-commerce website introduced by Premium Web Services, which later renamed as LatestOne.com after it was acquired by Palred Technologies. Mr.Ameen’s quest for offering good quality and affordable products to the global users is still on. It is apparent with consistent additions being made in LatestOne products and services.

In a span of 15 years of award-winning work in the fields of e-Commerce, Digital Marketing, Social Media marketing, and Search Engine Marketing; Mr. Ameen Khwaja has made a mark for himself and mastered in spearheading the strategic marketing division, and in utilising his skills to build an online community, sales, and brand awareness platform for the products.

LatestOne.com is owned and operated by Hyderabad-based, publicly-listed Palred Technologies Limited (formerly Four Soft Limited). Started in August 2014, LatestOne.com is the only e-commerce portal run by a publicly-listed company in India. Specialized in tech and mobile accessories, LatestOne follows an inventory-based model, and about 60-70% of the sales come from its own private label brand PTron. The company operates through its warehouses in Delhi and Hyderabad, delivering smart watches, bluetooth devices, power banks, mobile covers, tablet accessories, CCTV’s, cables, Android TVs, headsets etc to over 19,000 pin code locations in the country.

In less than two years, LatestOne.com has already reached a milestone by achieving on an average 4000 orders per day from 100 orders per day. The site receives over 3.5 Million visitors in a month and till date has successfully shipped / delivered more than one million orders since commencement of operations. During the quarter Oct – Dec 2015, LatestOne.com achieved revenue of 9.10 Cr and the company plans to grow 15-20% in net revenue on a quarter on quarter basis.