Pursuit of the digitalisation agenda is enabling B2B commerce organisations to transform their business models, expand outside their traditional markets and enable operational innovation, according to new research report from Intershop.
Four in ten businesses claim that digitalisation has completely changed their business models with three quarters (76 per cent) currently have their own B2B commerce site.
Less than half (46 per cent) say their sector is more global now than ever before and 44 per cent are generating more total sales.
In an attempt to persuade customers to purchase more items across more product categories, 40 per cent claim to leverage their digital sales channels.
The digitalisation of B2B organisations is not only affecting their day-to-day operations. It is changing the whole business landscape. In fact, a third (37 per cent) of survey respondents report an increase in ‘stealth’ practices, where new and competing products and services come to market with little warning and not always from traditionally competitive suppliers.
These new offerings can often disrupt a sector and/or render incumbent offerings redundant. Indeed, only three in ten (30 per cent) B2B organisations feel confident enough in their product or services that they would be able to innovate in the face of stealth competition and keep up.
‘Organisations need to set up the right technological infrastructure today in order to fully leverage the potential of digitalisation and to prepare for a successful future,’ explains Dr. Jochen Wiechen, CEO, Intershop.
‘Order management systems have proved to have a particularly high relevancy in that respect. However, they are just one part of a truly synaptic commerce landscape, which ensures the necessary flexibility required by the market´s dynamics.’
The report also examines the digital mega trends, Big Data alongside the Internet of Things (IoT). Nearly all (95 per cent) respondents expect to benefit from IoT and smart automation.
Already, organisations are noticing the impact in areas such as better marketing and targeting, cost savings, supply chain management efficiency and greater efficiencies across their business.
Yet despite this, relatively few (37 per cent) say they plan to invest in the IoT over the next 12 months. When it comes to Big Data, despite less than half (42 per cent) claiming their organisation uses Big Data effectively, 54 per cent say it will be their organisation’s next big investment.