Ans:

Automate the purchasing procedure

e-Marketplace allow you to send ask for quotes to a prospective supplier, receive quotes, send enquiries, receive enquiries, send purchase orders and receive invoices within the e-Marketplace system. You can virtually consolidate all your procurement processes in one single place. This process of automation brings significant efficiency to you and saves your transaction processing cost. According to Aberdeen Group, a research company, thanks to B2B procurement systems, businesses can reduce these processing costs up to 70%.

Comparison shopping at its best

Since you can see all the suppliers of a particular product, that you are planning to buy, in one place, it is easy for you to see which one among the suppliers suits you best in terms of price, quality, delivery time, geographical location, costs etc.

Reduce sourcing time cycle

You can easily use the search features and browse the products from different industry categories on the e-Marketplace platform. Since most of them employ sophisticated IT technologies to enable users spot the target buying or selling trade leads and products quickly and effectively.

Reduce back-n-forth time with various parties

Most e-Marketplaces allow you to select multiple offers from different suppliers and create purchase orders in one shot and send. Since you handle all your procurement related correspondence from a consolidated working page, you can see right away answers to requests for quote, invoices, etc. This helps you react instantly and reduce you time in document processing.

Community participation

You can receive valuable feedbacks from other fellow buyers, receive industry-related information, build new partnerships and use the networking ability of a community.

Access to trade leads and products' information

Current information of trade leads and products is vital for an accurate buying decision. 24 hours access to supplier's catalog helps you getting most up-to-date information any time you need it.