Online Marketplace Portal

Benefits of E-Marketplaces Portal

The possible advantages to be gained by joining an online marketplace portal will vary between industries and businesses, and certainly between buyers and sellers. Some of the potential benefits are mentioned below.

General business benefits

• There are better opportunities for suppliers and buyers to set up new trading partnerships, either in their supply chain or across supply chains.
• Online marketplace portal can supply better transparency in the purchasing process since availability; prices and stock levels are all reachable in an open environment.
• Time constraints and problems with unusual office hours for international trade are removed as it is likely to function on a round-the-clock basis.

Benefits for the buyer

• Updated information on price and availability makes it easier to secure the best deal.
• Online e-marketplaces portal offer a suitable way to compare prices and products from a single source rather than spending time contacting each individual supplier.
• Established e-marketplaces provide a level of trust for the buyer as they are dealing exclusively with suppliers who are members.

Benefits for the seller

• Regular requirements for quotations from both new and current customers are feasible.
• It provides an additional sales channel to market and sell products.
• The use of international online e-marketplaces portal can offer opportunities for overseas sales that you would not otherwise be aware of.
• Online e-marketplaces portal can offer reduced marketing costs when compared with other sales channels.