The eCommerce world is expanding in leaps and bounds, and to keep up with the thriving competition Magento 2 is coming up with its new version during September of this year.
Magento 2.2 is the most awaited update by a successful eCommerce platform.
It will have distinct features that can enhance the Business-to-business functionality to the next level.
The new features of the B2B market only make sense when you analyze the accelerated hike in the B2B market.
By the year 2020, the B2B eCommerce will generate 6.7 trillion dollars across the world, as reported by Frost & Sullivan. The US market is likely to generate $1.12 billion in the coming year, estimated by the Forester.
associated with the Magento eCommerce development
If you are also associated with the Magento eCommerce development then these updated features will be the most sought after deal for you.
- Flexible B2B functionality
- Instant Bug Fixes
- Upgrade to the Magento Developer Toolkit
- Enhancement of the Magento Security
- Highly advance Website Reporting Tools
The software that is outdated can easily catch the incompatibility issues with the performance failure of the extensions.
When a new version of Magento comes into the market, the old security
loopholes are highlighted in patch notes that can affect web stores with malicious attacks.
As the latest update has a lot of things to offer in order to enhance the webstore’s eCommerce, here are some of the B2B features everyone must know about.
Amazing Magento 2.2 Features
Catalogue Control and Shared Buyer Accounts
There is a facility where multiple buyers can share a single account and also the store owners can have access to the customer catalog.
Before that, the users are required to gain extensions from various multi-buyer solutions. But with the development of Magento 2.2, buyer permissions and account roles are performed on the platform right from the beginning.
This also suggests that different restrictions can be inserted between the individual buyer account.
For example; Which product description is accessed through the account.
This simple catalog is priceless for the eCommerce websites to sell the products to both the B2C and B2B markets.
Compliant Account Management Tools
The features for the account management are added to the Magento 2.2 version for the customers as well as the managers of the website.
The tool for the self-service foster B2B customers to create and manage their account for a separate company.
The website owners are also given facilities to use extensive features to put accurate categories and arrange the information of the customers.
This also involves the ability to import and export the list of customers while
giving the ability to assign sales personnel to chosen accounts.
Manage Request for Quote
Like other Magento Features, quote requests can be made by the customers, once the installation of the Magento extension is done.
Now with the announcement of Magento 2.2, customer negotiation capacities and quote management will be available by default on the platform.
Magento 2.2 features allow the B2B customer with the advancement of requesting the quote directly from various shopping carts.
Customers can also incorporate the documentation and support comments with the quote request and check the status of the issued quotes.
Merchant can easily request, monitor, and customize the quote with the help of the quote management panel. The history logs, communication data, and quote details can be recorded with the customer negations.
Enabling Payments through Credit Cards
Before the update, credit card and PayPal payments were only intended to make payments through Magento without the use of extensions.
The good news is now anyone can do the payment through the credit card after the introduction of Magento 2.2.
The merchants of Magento can initiate and configure credit options to make the purchasing conditions more flexible for B2B customers.
Maximum and minimum limits of order and restrictions on credit for a definite country are some of the adjustable credit transaction settings that have to be made.
Magento owners can simply fetch the customer credit data and also provide limits to the individual accounts of the customers.
It means the buyers can increase the credit limit in comparison to other accounts. The customers will also have the facility to follow the status of the personal information of the credit.
Foster Quick Purchases
With the benefits of Magento 2.2 features, now the merchants can decrease the time that is involved in purchasing methods.
B2B customers secure orders by enrolling more stock-keeping units (SKUs) at a time.
Magento will validate the SKU and inform customers about the availability of the inventory.
Now the process of ordering will be easily done by uploading the CSV files.
On top of that, merchants can also design a requisition list of the products which are often purchased from the store.
The requisition list can be created as per the requirement and it is allowed to choose customers to organize orders.
Negotiations with B2B Customers
Magento 2.2 features a quote that helps in encouraging customer negotiations that enhance buyer relations and increase the user’s sales.
Basically, quote summaries give information about the optimization of the returns and determine the potential discounts.
Merchants can also reply to the proposals with changes in price and amazing shipping offers.
The recommendations of the alternative products are also available.
By this, an efficient dialogue is supported by customers along with attachments and comments ready with the quote requests.
The quote expiry dates can be determined with close deals that encourage the action of the customers.
Upgraded Options of Shipping
The last but not least Magento 2.2 features can effectively improve the B2B operations and issues relating to the management of shipping.
It helps in minimizing the shipping cost. This new Magento version has features that can simply automate the primary shipping process.
It also has some upgraded management tools that organize the packing and dispatching of the products from anywhere. It also has some unique product allocation regulations as per different shipping locations.
We hope with the above-given pointers, you will acquire information about the exclusive features and how these features can benefit in real-time to the merchants and B2B customers.
You can also take development-related services from a reputed Magento development company to ease up the entire developing process.