Best B2B Marketplace Software 2020 for Your Next Startup

24 Dec 2019

 

In the past decades, we’ve witnessed the rapid transformation of the process people are doing shopping. The period has given birth to many successful aggregators, such as Amazon, Alibaba, Etsy, Uber, Fiverr and likewise, whose online market activity aims at bringing together multiple sellers and buyers at one platform. 

According to Statista, everything looks quite promising for eCommerce marketplaces, especially for B2B online platforms:

  • Online shopping remains the most favorable and popular internet activity that is why eCommerce trade develops at growing rates with an 8,9 % surplus globally.
  • B2B eCommerce sales are estimated to reach $1.2 trillion by 2021 in the USA. 

Amazon is the most popular online marketplace that generated $74 billion in revenue from the annual sales through various digital channels in 2018.

eCommerce marketplace participants

As online shopping provides positive customer experience, the number of companies that are more open to eCommerce options, mushrooms extensively as well as future investments consequently increase. 

Traditionally, there are three participants of any marketplace platform: sellers, buyers and the platform itself. In a B2C model, the relations between the parties are built in order to sell popular goods or services to the final consumer while in a B2B type the interaction between two business representatives develops mostly around pricing and potential profit. 

On this premise, the marketplace platform is to create a perfect environment for managing numerous difficult processes, like data orchestration, tracking customer history, stock monitoring, complex analytics and decision making. Thus companies typically strive to find one or several software platforms with a scope of services to meet their business needs. 

5 core features of successful B2B Marketplace Software

“Many corners of B2B commerce remain untouched by digital, and few firms have reached a digitally advanced state.” Joe Cicman,  senior analyst, Forrester Research

No large eCommerce platform can function effectively without decent marketplace software designed specifically to contribute to online business development. To do so, any B2B marketplace software solution should enjoy a number of both must-have and additional features to provide full-fledged performance. Although these features may vary, here are five key characteristics alongside a list of some supplementary features we think you should consider.

 

1. Flexible Management

B2B software platforms should contain options for efficient multiple vendors and product orchestration as their number can be endless. Smart and intuitive optimization tools, like CRM, CMS, ERP, serve to help flexible migration procedures, track stock status, manage orders and shipping and, in many cases, prevent valuable data loss.

 

2. Scalable Business Volumes

If we speak about startup projects, it is essential to take into account whether the software enables sustainable scalability. As on the point of business development, the necessity of agile architecture grows simultaneously. Thus marketplace software should provide all-volume warehouse management, sync product inventory and adjust sales, payment, delivery, shipping to the necessary extent.

 

3.Transparent Accessibility

This feature is business owners’ key to success as seamless access to data ensures an overall control. Transparency helps vendors or managers or marketplace administrators take control over product and service managing processes, keep in touch with business partners and make a profit from electronic commerce. Due to AI features, like chatbots, personal assistants, advanced accounting, etc., stable vendor engagement gets easier than ever before.

 

4.Secure Data and Payments

Contemporary legislation strictly limits personal data usage and exposure that is why cybersecurity remains the top issue of concern. Marketplace software platforms should ensure the highest level of data protection from leakage, especially when it comes to financial credentials. Software providers must contribute to high-level cybersecurity to make the buying process simple and safe, for example, with secure embedded payment services.

 

5.Seamless Analytic Decisions

Analytic possibilities of B2B software features are difficult to enumerate beginning with workflow automation to business effectiveness estimation. Marketplace software allows its users to monitor enterprise current data in real-time, such as delivery and stock, and also helps work with past activities, for example, client history, new subscriptions or cart abandoners. Moreover, predictive analysis and ensures graphical representation for advantageous future decision making.

Also, there are some more noteworthy software goodies:

  • Easy signup and quick registration 
  • Friendly navigation
  • Powerful search
  • Reliable payment gateways
  • Quick tracked delivery
  • Notification and alert system
  • Sync product management
  • Efficient communication with customers
  • Activity overview and control
  • Sustainable accounting and finance flows
  • Advanced analytics and reporting
  • Customization options
  • Social media integration
  • Smartphone integration
  • Omnichannel shipping providers
  • Several base vendor plans and price variations
  • Discount campaigns

 

With all that said, it becomes evident that there is no ideal marketplace software meeting every single company’s needs. Instead, you can always give several solutions a try to find the one that suits you best. What’s more, try to evaluate not only the world’s giants, but also smaller B2B marketplace platforms, since they may turn to be much better for your business.

 

Most Popular Software 2020

Choosing sustainable marketplace software often turns out to be a burden because there are no universal criteria to suit your business needs best. You are sure to have encountered some popular shopworn names so we’ve tried hard to provide you with a list of on-the-rise software vendors.

Arcadier

Pricing: min. $39 per month

Arcadier is a marketplace SaaS provider for individual and corporate clients. It is a good option for testing ideas without sufficient financial investment and coding knowledge. Arcadier provides simple-to-use B2B, B2C and P2P marketplace software solutions customizable for all-size companies:

  • No coding required
  • Free version and free trial available
  • Cloud/SaaS/Web platform
  • 24/7 online support
  • Various marketplace models
  • Extensive search, filters and sorting
  • Individual payment approach
  • Online store building and real-time editing
  • Multi-admin/-seller dashboards
  • Analytic integration and visualization
  • Friendly interactive design

CS-Cart Multi-Vendor

Pricing: $1450 one time payment.

CS-Cart Multi-Vendor is a full-stack advanced open source marketplace platform suitable for creating small eCommerce stores. Multiple independent vendors have a bunch of functionalities to sell their digital and physical products.

  • No coding knowledge needed
  • Cloud-based Win/Android platforms
  • Startup and SMEs adjustment
  • Responsive friendly interface
  • Extensive built-in features and regular upgrading
  • Rich tools for creating an individual design
  • Advanced marketing tools
  • Convenient administrative options
  • CRM and CMS managing
  • Integration with marketplaces
  • High mobile responsiveness

Sharetribe

Pricing: $79 per month.

Sharetribe is open-source software platform for one-evening e-store building. It enables creating a professional marketplace rich in a comprehensive set of functions that deprives its users of code writing and major investments.

  • Free trial but no free version
  • Cloud/SaaS/Web platform
  • Adaptable to B2B and P2P projects
  • Omni-device adjustment
  • Intuitive signup processes
  • Consistent professional tech support and customer service
  • Financial and inventory management
  • Automatic commission transactions
  • Robust payment processing
  • Transparent order and product lifecycle
  • Personalized mailing notifications

WCFM Marketplace

Pricing: $49 per year.

WCFM Marketplace is a one-size-fits-all software solution that provides rich features for building a complete multivendor marketplace. It is completely responsible for backend support that enables the clients to concentrate on frontend business experience.

  • Free version available but no free trial
  • Cloud/Web/Mobile platform
  • Product import and export
  • Location-oriented search
  • Tracking and notifying deliveries
  • Purchase decision support
  • Auctions and wholesales events
  • Business model adaptation
  • Great choice of payment gateways
  • Advanced shipping solutions
  • Tools for managing the stock, returns, catalogs, promotions, etc.

 

In conclusion, we’d like to add that consumers are in search of a perfect multi-vendor online marketplace because they want to leverage from a vivid choice of products and services in one place. Thanks to these platforms, smaller and larger businesses develop to meet top-notch digital market expectations. So, we are here to help plan and integrate your business solutions no matter what you choose.

Have an idea for a new SaaS product?
About the Author
Valeriy Ilchenko
CEO at ByteAnt
Valeriy is CEO of ByteAnt with over 15 years of experience in software development always focusing and embracing new technologies IoT and SaaS. Besides leading the ByteAnt, Valeriy is a public speaker on tech talks, events, and meetups; mentor and marathon runner.

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