B2B signifies Business to Business communication and transactions between retailers
, wholesalers, manufacturers and distributors. This applies to products and services. A B2B marketplace is an online site that assists companies to connect with buyers and sellers as well as promote their businesses.
Search Engine
This feature is the pillar of these portals as it allows importers and exporters to find possible business partners. This tool is very valuable as this can save users a lot of time by allowing them to search at any time of the day at any desired location as long as an internet connection is available. This also allows them to plan their trip ahead of time.
Virtual Office
This is also a valuable feature where users can have their own email system where they can communicate with other users by sending and receiving emails. This facilitates the whole business process.
Virtual Showroom
This feature is usually a premium paid service. Prices vary depending on the popularity of the B2B marketplace. What this allows is for users to have their own mini website on the portal where they can display information about their company, products and services. This is a great option for the small and medium companies that do not have time or resources to have their own website.
Credit Reports
Credit reports are also a paid service and a very valuable one. This feature allows companies to order the financial and legal history of a company they are about to enter into a business partnership with. This is priceless as you will receive detail information that will help you make smart decisions and avoid painful economic losses
As you can clearly see, a B2B marketplace is an extremely useful tool for any businesses looking to increase their global sales with minimal investment.