Platform economy in the B2B sector

Anyone looking for a product or service today relies on digital marketplaces. Here, numerous sellers offer their goods and customers can find them with just a few clicks thanks to the user-oriented structure. Companies that rely on this approach are part of the platform economy. This refers to Internet-based business models that bring together suppliers and interested parties. In the B2C sector, this approach is already being used, as Amazon, Uber and eBay impressively demonstrate. But the platform economy also offers numerous opportunities in the B2B sector. What's more, the trend could usher in a new era here as well, offering added value that is made available via digital services and business models.

Due to the immense success of this strategy, many companies are considering how they can benefit from it. In the first step, it is not necessary to have a platform of one's own - the features alone provide enough impetus to optimize one's own business model, collaboration and customer loyalty.

Developing the business model further: value-added and innovative

Continuously questioning one's own business model is a crucial success factor today and in the future. The platform economy can help here. Because here, companies ask themselves the questions: What added value do I have to deliver to my customers in the future and what is worth sharing? This can be services, processes, documents, internal and external communication, appointments or even entire projects.

The next step is to identify the data sources. These are often in Enterprise Resource Planning (ERP), Customer Relationship Management (CRM) or in the Production Planning and Control System (PPS). Therefore, the portal should also be linked to these systems or even be a component of one of them. Solutions from the cloud are ideal for this, as they allow all modules to interact with each other and provide data in real time.

An example of this from the mechanical engineering sector: A tool manufacturer is considering what additional added value it can offer its customers. Through the evaluation of the last customer inquiries by mail and via the field service, it came out that many companies also want the maintenance service. By sharing data, the manufacturer now wants to offer this service: To do this, he integrates sensors that measure the degree of wear in real time. These are then sent to the manufacturer, who uses them to offer maintenance before the tool is finally defective or independently triggers a repeat order. In addition, the manufacturer receives new data for product development.

Strengthen collaboration: transparent and clear

Today, companies of all sizes are forced to develop their products and services more agile and faster. To keep up this pace, they work together with internal departments and external service providers. These different parties need to be bundled on one platform - similar to what Amazon does with a multitude of providers for its customers. The following potentials can be exploited:

• Services: Due to the increasing complexity of projects, the use of independent experts is indispensable. However, the customer expects a team that acts as a whole and reacts in a coordinated manner in all matters. This requires a platform through which all tasks, resources and information are shared. For example, times can be recorded transparently per customer and project, material data and documents can be exchanged and communication can be handled.
• Manufacturing: Today, numerous products are only assembled. The individual parts come from different suppliers. These are also better integrated and connected via portals. Production can be monitored, purchase prices can be queried and faulty goods can be complained about. The manufacturer, on the other hand, is able to confirm deadlines and orders as well as send data for goods labeling.

Deepen customer loyalty: individual and free

Two developments in customer behavior are particularly evident in the platform economy. On the one hand, there is a growing desire for individual, self-assembling solutions. On the other hand, users on the Internet want to decide for themselves when and how they contact a company. Both aspects, individualization and emancipation, also play a major role in the B2B sector and require their implementation:

• Individualization: The demand for customized solutions and products is increasing. To this end, some companies are relying on product configurators that allow personal adjustments and tailor products precisely to the respective needs. For business customers, a portal that is linked to all other customer data is a good solution. This enhances the shopping experience and simplifies production.
• Emancipation: In addition to quality, reliability above all determines the success of a manufacturing company. In order to offer this, SMEs should rely on self-service portals in which the exchange of information is in the foreground. Third parties, for example suppliers, can also be integrated and respond directly to customer queries in the case of product configuration. In addition to this direct communication channel, customers can do even more: view the current status of their order, download invoices, check repair orders, order spare parts or download device updates. On the other hand, manufacturers or dealers benefit from a stronger bond, less "admin effort" and data that helps with individual offer development.

Another aspect of platforms is speed. Thanks to real-time processes, customers see immediately whether the goods are available and when they will arrive. Companies should also take up this impulse and implement it in the field service, for example. Mobile solutions are needed for this: Thanks to central data storage and mobile devices, the salesperson at the customer's site has enough time to advise on the tablet, take individual orders and record orders. Customers, on the other hand, immediately see the product configured on site and receive all information (delivery, etc.).

Conclusion: Using inspiration and connecting data

Whether business model, collaboration or customer loyalty - the platform economy offers many approaches from which B2B companies can also derive and learn a lot. The development of a platform in the B2C sense is not even necessary. It is often sufficient to use existing portal solutions and to collect, evaluate and provide data via them. The important thing is that all existing systems can interact with each other and exchange data. This creates a smooth flow of data that creates added value for the company and the end customer - in real time, ideally via the cloud.