B2B refers to an online marketplace where one business system sells goods and services to other business systems. The ways of doing business are similar to those of a B2C environment, but the two have many elements that differ, as well.
Unlike purchases made by individual customers, in which payment by credit card, PayPal, or some other method is expected before delivery, in B2B commerce the web shop is normally used as a platform for placing orders, while payments are carried out as in other B2B transactions, invoice to invoice - in other words, via bank transfer.
In such cases, the customer usually has a contract with the seller in which they are guaranteed certain transactional conditions (prices, discounts, amounts, delivery deadlines, payment deferral, payment in installments, etc.), all of which depend on the status of the customer, their previous results, i.e., volume of purchase, regularity of payment, and years of collaboration, not to mention mutual trust. Of course, a business can also be a one-time customer without any contract with special conditions, so the system has to enable such customers to purchase or to place orders.
B2B vendors are manufacturers, service providers. They have regular clients who are often companies that deliver to their own end customers. Customers can also be governmental institutions which might have annual contracts for the supply of particular types of goods (such as office supplies). For such merchants, the B2B website can serve as a platform for planning procurement, ordering periodically scheduled deliveries, overseeing the execution of contracts, and the like.
Tamkeen is a Multi vendor marketplace allowing the participating Kuwait Local Manufacturers and service providers sell their products and services by setting up an exclusive store front. The sellers can manage logistics, inventory, product additions, etc. at their own end.
How does it work?
- Vendors register on the marketplace.
- Buyers can buy the products from their choice of the seller.
- Payment is transferred directly to the vendor’s account.
- Product delivery can be managed by seller.