There is no definitive rule book when starting a new business. What works for your competition might not work for you.
The traditional way of how companies engage their clients is null and void. However, the fast pace technology evolves doesn’t mean you should sit back and wait for the magic to begin.
If your start-up or enterprise executes most online sales in the eCommerce space, choosing a suitable eCommerce partner should be your priority. Fortunately, there is no dearth of options in this context.
B2B SaaS (business-to-business Software-as-a-Service) has grown in leaps and bounds. Encompassing cloud technology and business software, the B2B SaaS sector is expected to reach $157 billion by the end of 2024.
A report by Gitnux also found that the average enterprise uses 129 different SaaS apps. You can find a dependable partner in this domain.
In this article, we’ll discuss how to choose the right eCommerce partner.
Outline Your Business Needs
Easy enough, but some companies don’t put pen to paper and outline a clear business strategy to boost revenue and customers.
Here’s where the importance of an RFP (request for proposal) comes in. The business document announces a project and bids for qualified contractors to compete.
According to Investopedia, RFPs are not only used by governments but also by organizations to launch projects. The handy document pinpoints the exact features your company requires.
When searching for a suitable eCommerce partner, list B2B/B2C capabilities, functionality, payment gateways and inventory management as per the company’s needs. PayPro Global suggests looking for a provider offering fully integrated eCommerce solutions.
Experience
As we previously mentioned, experience should be a big deciding factor. It’s a red flag if their reseller model can’t yield any success stories or client referrals.
B2B SaaS companies pride themselves on being the best in their field. Positive client referrals give them bragging rights. Given the intricacies of eCommerce, you need to choose a partner that has expertise across all eCommerce payment platforms.
By utilizing future-proof technology, an eCommerce payments partner can help take you to the next level. They should be able to predict how the market will expand and improve, without leaving you and your company behind.
Fully Integrated Tools
To ensure the smooth running of your eCommerce store, you need to put systems in place. Automation tools are the unmanned saviors diligently working in the background on those repetitive tasks you don’t like doing.
TechRound lists several types of automation tools in eCommerce. These are:
- Marketing
- Customer service
- Inventory management
A combination of these tools enhances the workflow while growing eCommerce revenue.
Fully integrated software should optimize the customer experience. Tools like payment gateways, loyalty programs and user-generated content (UGC) are some examples of how companies can scale and increase revenue.
Solutions-Driven Skills
You and your eCommerce partner have to be on the same page from the get-go.
Signing on the dotted line shouldn’t be a matter of gaining another client and selling software. An experienced, driven partner will want to see your company thrive with a global expansion. A win for one is a win for all. An organic partnership means they are fully invested in your success and revenue growth.
A few ways of making sure a collaboration works is their promise of all-around support. Are they offering 24-hour IT support?
What about troubleshooting? Does their team have enough know-how and products to keep the front end working while resolving back-end issues?
Payment Processing
eCommerce payment processing allows for secure online transactions. While some merchants use a third-party payment gateway, it’s important to ensure the payment process is integrated into your business’s website.
Customers want ease of convenience. The second they spend too much time inputting their payment details, you’ve potentially lost a client. Gift them with a seamless, uncomplicated payment process.
The main eCommerce payment methods are credit and debit cards, mobile payments, BNPL and EFT. Your company’s payment gateway should be able to accommodate all these options.
The 2023 edition of The Global Payments Report showed that digital wallets are still the preferred method of payment. About system integration, make sure your payment gateway can assist in managing new global payments methods.
Now that you have the direction for a reputable eCommerce payments partner, be clear about what you want your company to achieve. If you have concerns about a potential partnership, voice them before signing a contract.
