The online B2B marketplace eliminates geographical borders and provides the supplier access to more qualified buyers. By participating in an online marketplace, suppliers have a higher probability of being considered by a buyer. Suppliers may be electronically notified of buyer requirements that match product and service offerings. Qualified buyers may be informed of relevant products being introduced in the market or available at a discount. Suppliers can be alerted for buyers who have particular sets of requirements, preferences or profiles.
Suppliers can even participate in auctions or reverse auctions.
The online marketplace provides powerful opportunities for substantial incremental business. We all know how rapidly e-commerce has grown, but most of us didn't realize until lately how expansive the B2B sector has become. This gap is expected to widen for years to come. On one side, there is the contention that large equipment sales can only be done through traditional channels. In contrast, small and medium-sized companies are embracing the advantages of an additional channel of distribution.