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02/27/2018
When the Going Gets Tough, the Tough go to B2B

Last year was a tough one for many retailers. There were at least 19 retail bankruptcies in 2017 including Toys “R” Us, Gymboree and Wet Seal. In early 2018, Sears announced it was shutting 39 Sears and 64 Kmart stores. Some in the press labeled it a “retail apocalypse.”

In a large part, the movement has been attributed to e-Commerce. As consumers continue to shift to online retail, Forrester Research predicts that e-Commerce sales will jump from 12.9% of all retail sales in 2017 to 17% by 2022.

While most B2C retailers have aspired to become more like Amazon and provide an omnichannel presence, there’s another option to boosting revenues: by creating a B2B e-Commerce presence. For success stories, look no further than Staples, whose B2B sales now account for as much as 60% of total revenues. At The Home Depot, professional customers comprise about 45% of sales and are growing much faster than the company’s B2C business. Warehouse club BJ’s also added a B2B business last year.

For some retailers adding an e-Commerce B2B unit should be a no-brainer. There are no Black Friday or 50% off sales for B2B customers, so margins are higher over the long term. Going B2B can also provide increased marketing opportunities and leverage of existing assets, like your supply chains or stores, so it’s worth looking at the benefits and logistics of making such a move. Many retailers, however, are unsure about how to go about making the leap. It doesn’t have to be a complex affair, and in fact, there are third-party service providers that can help handle many of the more involved aspects of running such a business.

Read the full article at www.retailtouchpoints.com to see what six components of B2B make it different from B2C. 

In the Press

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09/07/2018
As Even Small Merchants Sell Globally, Payments Industry Faces Bigger Demands

This article was written by PaymentsSource

 

 

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08/27/2018
CIO Spotlight: Dan Zimmerman, MSTS

Written by IDG Connect | August 27 2018

 

 

 

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08/22/2018
Credit as a Service for the B2B Market

Multi-Service Technology Solutions (MSTS) was founded in 1978 by a former trucking company owner who wanted to automate payments for trucking services.

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08/22/2018
Implementing a Customer-Centric B2B Omni-Channel Strategy

Today's B2B customer is a digitally-savvy omnichannel connoisseur with high expectations of a B2C-like buying experience that still meets their more complex B2B needs.

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08/10/2018
Navigating the Complexities of Managing B2B Credit and Payments Operations for National Account Programs

Most businesses have a natural aversion to risk, experience resource constraints and often a need to cater to customers who use disparate merchant networks. This poses a tremendous challenge to scalability.

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07/12/2018
PayThink International Payments have lots of tech, but rules are stuck in the past

In today’s digital economy, most people think that sending money across borders is a seamless process.

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07/03/2018
Removing the Friction from Cross-Border Payments Reconciliation

For businesses looking to expand their ventures in global markets, cross-border payment frictions can vary from delivering international payments on time in the correct amount to delivering them in the recipient’s preferred currency.

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05/25/2018
Taking B2B eCommerce Omnichannel

No B2B transaction occurs in a vacuum. Buyers and suppliers must consider the history of their relationship, negotiated rates and payment terms, and the reputations of the companies working together.

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05/07/2018
A Cloud-Based Payments Service Launches for B2B

“Credit as a Service” debuted today from payments company MSTS to let online sellers provide their own branded lines of credit to buyers.

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05/18/2018
The Nilson Report: May 2018, B2B Credit as a Service Platform

Retailers around the world are losing sales to Amazon.com and other online marketplaces, and some are looking to replace lost business-to-consumer (B2C) revenue by expanding business-to-business (B2B) sales.