B2B: Get The Most Out Of Business Relationships While Maximizing ROI
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(0)Overview: Organizations make significant investments in B2B software and connectivity to automate business transactions, with the primary objective being to drive efficiencies with large trading partners. Still, there is much room for improvement. As it stands now, many businesses adhere to the 80/20 rule, electronically linking with only 20 percent of their partners. This smaller percentage represents as much as 80 percent of their transaction volumes and/or revenues. Companies often fail to maximize the potential of these existing trading partner connections, with only portions of business processes being automated. For instance, automating a purchase order or invoice, but not the entire order-to-cash or purchase-to-pay business process, will continue to cause costly, error-prone manual transactions (such as purchase order changes, payment remittances, etc.). Many companies also fail to automate transactions with the remaining 80 percent of their trading partners. This trend may be driven by a simple lack of awareness of available industry solutions, or as a result of companies underestimating the true costs of conducting manual transactions, including the impact on customer satisfaction, margin erosion and cycle times. This white paper illustrates how Sterling Commerce can drive greater efficiencies and improve the return on your B2B infrastructure investment. It explores a straightforward approach to how Sterling Commerce identifies opportunities to automate more transactions with your existing electronic partners.
