Magento Open Source and B2B E-commerce
Magento Open Source and B2B e-commerce partnerships will bring a huge change to operating businesses in 2024. In this digital era, with the use of AI, they have redefined digital goals by offering enhanced customisation, automation, and scalability.
Magento Open Source, being the fourth most powerful platform currently, has 239,000 live websites globally. The US, U.K., and the Netherlands have the most users of Magento.
For B2B, there is an increase in sales with the implementation of the right strategies. So now, having a powerful e-commerce site is no longer “nice to have.” It is a “must-have.”
Understanding Magento
Magento Open Source for B2B can easily be downloaded and modified based on a business’s requirements. It is a free platform for users. You can sell your products hassle-free with this powerful e-commerce platform that can grow your business and revenue.
Relationship between Magento Open Source and B2B
Magento Open Source provides a special advantage to businesses that sell to other businesses. These features include custom pricing, ordering in bulk, account management tools to create multiple users with different roles, etc. This assists B2B to easily manage the complex sales process and to handle large orders at a negotiable price.
Magento also helps businesses offer a personalised shopping experience to customers. These are the reasons why several B2B businesses are opting for Magento. To date, there are more than 1,45000 B2B Magento online stores
Top B2B Ecommerce Platforms and Features
B2B always prefers platforms that can handle complex and large data together. They want to stand out from their competitors. So, choosing the right e-commerce platform is crucial for every business. Here is the list of top B2B e-commerce platforms.
- Magento Open Source
- Shopify Plus
- BigCommerce B2B Edition
- OroCommerce
- WooCommerce with B2B Extensions
- SAP Commerce Cloud
- Salesforce B2B Commerce
- Epicor Commerce Connect
If you need detailed information on any of these, you can get in touch with our team, Neranix. All these platforms are highly recommended for B2B, as they can manage complex sales processes easily.
Security Measures to Protect B2B Transactions
Magento Open Source offers security measures to protect B2B transactions, and they are
- SSL certificate.
- Two-factor authentication (2FA)
- Data encryption
- Regular security patches
- PCI DSS (Payment Card Industry Data Security Standards) compliance.
How flexible is the checkout process for B2B customers?
B2B has a highly flexible checkout process by Magento, such as
- Multiple shipping addresses.
- Multiple payment options
- Customizable checkout
Magento Open Source Analytics for B2B
Analytics helps you know your B2B customers. How? Analytics offers you this crucial information, such as:
- Insights related to customer behaviour.
- Track the performance of your sales.
- Product performance analysis.
- detailed report on specific metrics such as order frequency, etc.
- Data to personalise the shopping experience.
Total Cost for Setting Up Magento for B2B
The total cost includes several factors, and they are
- Development cost: $5,000 to $100,000+
- Hosting cost: $20 to $500+ per month
- Support and maintenance: $500 to $5,000+ per month
- Licensing and extensions: $500 to $10,000+ annually
- Payment fees: 2% to 3%
Easy to customize Magento Open Source for B2B
B2B needs to meet the demands of their customers, and for that, they must customise their e-commerce platform to offer a seamless shopping experience. How?
- Make use of pre-built extensions.
- Built-in tools to modify themes and layouts.
- Intuitive admin panel for smooth operation.
- Use of a drag-and-drop page builder.
- APIs and integration with other systems.
Magento Open Source to Meet B2B Trends
The evolving process of Magento is proven to be beneficial for B2B e-commerce by simply focusing on
- power of AI related to personalization, product recommendation, chatbots, AI-driven inventory, etc.
- Flexible APIs and omnichannel expansion.
- Mobile-first design.
- To manage complex tasks to improve performance.
- Support the B2B transaction.
- Enhancement of security with regular updates.
Final Words
Magento Open Source offers a range of benefits for B2B e-commerce in 2024. This helps with advanced customization, AI-driven recommendation, virtual assistance, and a lot more, as we have discussed above. It is a powerful tool for every business in this competitive digital landscape.
If you are looking for any assistance in relation to Magento, WooCommerce, UI and UX design, SEO, WordPress, integration, web development, Google Analytics, or Google Ad campaigns, then you can reach out to our skilled digital experts at Neranix.
