The Rise of E-Commerce is Revolutionizing B2B Sales Channels The COVID-19 pandemic has seen businesses and consumers alike make moves to cut down their expenses. Aiming to reduce the inefficiencies in manual or outdated business-to-business (B2B) sales channels, many businesses have turned to online marketplaces, many of which are looking to break into the B2B e-commerce space. An increasing number of businesses are citing payment processing speeds as a crucial need, with a recent report finding that 48% of B2B companies indicate this as a concern. Another study found that only 20% of businesses had a desire to move away from digital sales , an indication that virtual B2B payments are filtering into the mainstream. Shifting B2B payments and interactions to the digital space comes with many benefits. One study found that businesses can boost their revenue by adopting digital sales channels , with digital sales fueling the revenue growth of 62% of B2B businesses in 2020. The s...

“Research has found that subscription models are 217% more profitable for businesses than a one-time payment model. With subscriptions, you can provide greater efficiency, get your customer to associate with your product better, and receive a higher payoff. 70% of businesses feel that acquiring new customers is more expensive than retaining existing clients, therefore with a subscription model, you continue to make money from users after you acquire them.” - Source: Intuit, Inc. The COVID-19 pandemic has accelerated this already prominent trend in the business world: the shift towards “everything as a service”. Tech giant Hewlett Packard, which already sells around 50% of its products through e-commerce, has committed to making its entire portfolio available on that basis by 2022. With many vendors pushing the model and an increasing number of platforms supporting subscription payments, the feeling is that demand from customers who value flexibility will continue through the year. T...