12 Jul DIGITAL TRANSFORMATION: BENEFITS AND OPPORTUNITIES FOR B2B
DIGITAL TRANSFORMATION: BENEFITS AND OPPORTUNITIES FOR B2B
Digital transformation is gradually changing businesses of all sizes, and business-to-business (B2B) companies are no exception. For them, too, it is a valuable growth opportunity: digital transformation allows resources optimisation and business workflow innovation, it helps decrease costs and improve brand reputation, as well as enhance customer experience.
Despite its many benefits, some resistance has been observed: it appears that B2B companies tend to be much slower to adopt new trends in comparison to business-to-consumer (B2C) including digital transformation. One of the main reasons for this is the complex B2B environment with longer cycles, its many different processes and the suppliers/customers negotiations. 
Nevertheless, there is no doubt that going digital must now represent a priority for companies aiming to maintain their competitiveness and sustainability.
Ecommerce sales will have explosive growth in coming years and will soon rise beyond B2C market, according to industry forecasts. B2B buyers want to make business purchases online, and B2B companies continue to see the benefits of using ecommerce to supplement their existing buying mechanisms. Even if ecommerce will not replace traditional sales, digital channels should be considered an extension of current models and part of an omnichannel strategy.
The success of omnichannel commerce hinges on technological integration unifying all systems, and digital transformation is key to achieve it. 
How digital transformation helps B2B
Accurate market segmentation, operational agility, efficient control and reconciliation of expenses, cash flow optimisation, are among the major advantages that digital transformation brings to B2B, not to mention its side benefits, such as levereged customer trust and improved brand reputation.
Therefore, it is crucial for companies to focus on the adoption of solutions able to improve all these elements. This also applies to payment methods offered to customers, which are among business activities impacting business reputation. 
An example of solution able to support B2B is provided by MyBank, which efficiently meets industry needs thanks to its streamlined payment transactions that help enhance the user experience with a frictionless purchasing process, and contribute to improved customer retention.
MyBank: how it works and how it supports B2B
Merchants only have to integrate MyBank in their ordering website system, on which customers – resellers, agencies or partners – can buy products or services. MyBank establishes a direct online connection between the merchant’s bank account and the customer’s one, without having any personal data saved or shared with third-party platforms, and without the need for any new registrations. Everything is ready to make the payment, which the customer can finalise in just a few clicks.
It is a seamless, fast and safe payment procedure, in line with both GDPR and PSD2 requirements, which makes regulatory compliance actions unnecessary at the merchant’s end.
MyBank benefits, first choice for B2B payments (i.e. for merchants with very high average receipts), do not stop here: the solution has no amount limits, supports cross-border transactions, protects against online frauds, and provides real-time confirmation of the irrevocable payment.
Real-time confirmation stands for faster order processing.
This is the case at Esprinet, a company engaged in the wholesale distribution of IT and consumer electronics, that adopted MyBank to make quicker product delivery possible: orders are immediately processed, with no waiting time to get the transaction confirmation. The company even features a dedicated play-off on their B2B website: your wire transfer in one click, and your order is already on its way.
Many more companies, including Mercedes-Benz Financial Services Italia S.p.A, Kuwait Petroleum Italia S.p.A, Wind-Tre, and EasyMarket are successfully using MyBank for their business-to-business sales.
MyBank carefully follows the evolution of the B2B sector and the problems companies face, to support their business and facilitate their growth.In line with the needs arising from digital transformation, MyBank places customer experience at the core of its payment solution.
Also in the B2B sector, digital transformation means more efficiency, lower operating costs, improved quality of services and increased customer retention.
The whole industry needs to adapt to time and purchase methods that are very different from those of the past, and it should opt for secure and reliable solutions able to meet customers’ needs.
Even payment methods can contribute to the reputation of a company: hence the importance of offering a frictionless and secure solution, in line with seller’s and the buyer’s needs.
MyBank is a valuable ally for B2B companies: thanks to automatic reconciliation, cash flow optimization, real-time confirmation featured by its solution, it helps companies better manage payment processes and, consequently, boost customer satisfaction.
12 Jul 2019