The technology industry has always been at the forefront of major business innovations. It advances new developments and changes operations across almost every business sector.
Very few people who now use services in the cloud would look back fondly to the days of on-premises mainframe computers. Artificial intelligence (AI), the Internet of Things (IoT), robotics and process automation have all driven improvement.
This year global spending on technology is expected to reach US$5trillion. Despite this outlook the sector must still address challenging market conditions.
Cloudfy is purpose designed to meet the needs of complex business to business (B2B) sales. It empowers manufacturers, distributors and wholesalers to thrive online.
For almost a decade the team at Cloudfy has refined the platform’s extensive pre-built features, integrations and extensions to meet B2B ecommerce needs for the technology industry.
Because Cloudfy is a software as a service (SaaS) solution it’s all available for a monthly subscription without hidden fees. Unlike other ecommerce platforms, Cloudfy is a one-stop-shop for B2B online sales. You don’t need to look for third-party solutions to meet your unique requirements. All your needs are met from custom development and site set up to hosting and security.
Technology industry challenges
Both innovation and disruption are unavoidable in the fast-moving technology sector. However, many business owners are uncertain about how they can make best use of their limited funding and resources.
Global tensions and regulatory challenges have made investors and stakeholders uncertain. Adoption of emerging technologies has slowed and some businesses are looking for ways to save money and scale their operations. However, there are some significant trends.
Artificial intelligence
The impact of artificial intelligence or AI is changing the technology industry. AI can drive automation, personalization, and predictive analytics. Its influence is felt everywhere from customer service chatbots to autonomous vehicles. Industry sectors including manufacturing, healthcare and finance have grasped AI’s potential. Most importantly, AI can generate valuable insights from very large data sets. It can identify trends and correlations and support data-driven decisions in uncertain times.
Cyber security
Cybercrime is rife and the threat is increasing. Around the world it’s expected to cost US$9.2trillion this year. Data breaches, ransomware attacks and supply chain disruptions all cause major problems. However, many companies still underestimate the importance of cyber security. Any touchpoint with the internet represents a potential risk. Robust security solutions are a requirement across the technology industry. Measures include detection, prevention and automatic measures to ensure good security practices.
Investment
As well as AI and cyber security, distributed processing using edge computing is attracting investment. Users can analyze data closer to its source using smart sensors and local servers instead of centralized data centres. Processing is faster so real-time decision making improves. Companies can save money and reduce security risks too.
Resilience
Around the world business owners and leaders must understand rapidly evolving and complex technologies to make strategic investment choices. Technology providers need to help by providing useful information to help make the business case.
Your technology industry B2B ecommerce strategy
More than half of enterprises plan to increase their technology spending on solutions from connectivity to end-user devices. However, despite prospects for significantly increased sales across the technology industry there are still major challenges. Here are just some of the areas where a well-defined B2B ecommerce strategy can help future proof your business.
Customer experience
Many businesses have been cautious about their technology investments but they’re still searching for reliable information to help their decision-making. Your website isn’t just a place to showcase your product range. B2B buyers want to find key technical data, request quotes and purchase easily online.
Providing the depth and breadth of content to meet a wide range of procurement needs is essential. It’s your first opportunity to show your customers you understand them and can meet their needs. Prioritizing customer experience will help to satisfy their preferences and expectations.
Compliance
Technology businesses invest a lot of time and money in meeting data protection and privacy regulations and industry-specific requirements. As well as privacy and security there are also international, intellectual property and legal considerations.
It’s complex and evolving all the time, along with the latest innovations in tehcnology. Failures can lead to penalties and fines, so you need to operate with confidence. By integrating your back office systems and your B2B ecommerce platform you can automate key workflows. You’ll minimize errors due to manual data entry and speed up processes. Most importantly, you’ll always have the latest and most accurate information.
Budgets
Finding solutions that meet their needs and fit their budgets is a key part of the B2B buyer’s role. A fast and effective configure, price, quote (CPQ) option on your B2B ecommerce site improves conversion rates. You’ll help your customers to establish their return on investment (ROI) and meet their strategic requirements.
Procurement
Your customers often order the same products again and again, sometimes adding an extensive list of stockkeeping units to their baskets. You can become part of their procurement solution with PunchOut, electronic data interchange (EDI) and easy Excel and email reordering.
Simplicity
Like many other industry sectors, there’s probably strong competition for the brightest and best talent. That’s a risk for your business and it’s costing you time and money. By choosing a B2B ecommerce solution in the cloud you can reduce your reliance on in-house technical expertise. Ease of use means more people can contribute to delivering valuable and useful content that drives sales. You can then focus your resources on other important areas of your business
EuroNetwork is a leading manufacturer and supplier of cable assemblies and wiring. Their products include HDMI cables, wall plates, cable and wire harnesses, custom telecommunications wiring and panel wiring. Their B2B customers include construction companies working on large scale projects. They also sell directly to consumers (D2C) purchasing items for their personal use. Read More
Future proofing your technology business with Cloudfy
Global demand for analytics, communication and automation is driving growth in the technology industry. B2B ecommerce solves many of the challenges you face and helps minimize the bottlenecks that can slow business growth.
Cloudfy is easy to use and purpose designed for complex B2B sales. You can simplify and streamline workflows and save time and money with business systems integration. Most importantly, you’ll improve customer experiences by providing high quality product information, specifications and technical data. You’ll deliver fast and efficient solutions to your customers’ procurement needs with automation, reliable inventory information and accurate pricing.
Find out how to future proof the B2B ecommerce strategy for your technology business with Cloudfy. Book a free demonstration today
Frequently Asked Questions
The first important step is to understand your customers’ needs and your business requirements. The next stage is thorough research of the options available to you. You’ll want to know which solutions deliver great customer experiences and fit with your business plans. Integration, timescales, development costs, security and scalability are important considerations. You’ll have a budget in mind, but you must also think about the total cost of ownership, including maintenance, hosting and license fees. If you have specialist requirements you might also have additional costs for customizations or extensions. Above all, you’ll want to choose and implementation partner with a strong track record and commitment to your business success.
Ideally you can implement your ecommerce solution quickly and still have flexibility to innovate and change to meet your needs. Simple content management and product information management tools make it easy to create high quality content. Integration with your back office systems keep things running smoothly. You can automate processes, reduce manual data entry errors and share information. Most of all, you can make sure you’re always following the latest ecommerce best practices.
Yes. More and more B2B buyers use smartphones and tablet devices to research products and buy online. Your website needs to perform as well on these devices as it does on a desktop PC. Increasingly, buyers also use online apps for easy reordering, to create favorites lists and to check their account status. A Cloudfy site is responsive on mobile devices and comes with a customer ordering app too.
Scalability is an important consideration. You have invested time and money to choose and implement your ecommerce solution. You’ll want to know it can grow with you. A software as a service (SaaS) solution like Cloudfy can scale to meet peak demand. It can also keep pace with growing order volumes. It’s a future proofed solution for your online sales.
