Manufacturers face several obstacles in today’s landscape, one of which is trying to beat the competition from massive marketplaces like Amazon. The statistics don’t lie; According to recent research, 18% of product makers cited anxiety around competing with Amazon as a roadblock they face.
What can manufacturers do to get ahead of the competition from marketplace giants? Shift to an eCommerce payments program. Doing so can give manufacturers the competitive edge they need. For instance, implementing an eCommerce payments program helps move manufacturers and distributors further along in the digital transformation process to meet buyer expectations. And, it helps offer buyers an omni-channel sales experience. With 98% of B2B buyers believing that it’s important to have the same purchasing experiences across all channels (in-store, sales, online), the time to upgrade a payments program is now.
Also, an eCommerce payments program helps manufacturers better compete against marketplaces by offering invoicing at checkout, an alternative and preferred method of payment to buyers. Manufacturers can preserve their working capital yet extend terms at the same time. In fact, 60% of B2B buyers who make purchases once a week believe adding payment options beyond credit cards will lead to a better buying experience.
Stop losing out to marketplace goliaths and start increasing your retention rate. Credit as a Service® (CaaS) lets manufacturers outsource their credit and payments program to support an omni-channel experience for B2B buyers. Plus, CaaS easily integrates into eCommerce platforms, POS systems, legacy ERP, CRM, and bank systems to streamline internal processes. With the solution’s dynamic pricing capabilities, manufacturers can offer contract pricing by customer down to the SKU level, across geographies.
Ready to stop losing to the marketplaces? Enlist the power of Credit as a Service to scale operations and increase revenue. Request a demo now.