As CEO and co-founder of Rumbleship, Alex Lugosch became a banker in order to make life easier for B2B e-commerce sellers and their buyers. Recently, I spoke with Alex about how Rumbleship can help B2B sellers solve their accounts receivable management challenges.
“It’s time to save capitalism together,” according to Wefunder. It’s a sentiment that resonates with me. I believe in the value of market-based economies. That said, capitalism could use some work. Jonny Price and his colleagues at Wefunder believe that “regulation crowdfunding” will do much to democratize capitalism. In the process, they aim to do good for entrepreneurs, investors, employees, and communities while doing well themselves.
The business-to-business (B2B) sector is the sleeping giant of e-commerce. Cloud-based e-commerce operations platforms such as Jazva are helping to awaken the massive potential of modern B2B selling. I recently had the opportunity to speak with Ryan Elich about how Jazva is helping make life better for B2B sellers.
Business buyers want payment terms from their vendors, and B2B sellers want to offer them. After all, extending a line of credit to a customer can lift sales and promote loyalty. Michael Noble, the founder and CEO of Apruve, says, “We see about 2.2 times more order frequency and about 3.3 times more line items per order for customers that are given a line of credit versus asking them to pay with a credit card.” It’s no surprise that upwards of 80% of B2B transactions involve customer credit. That said, offering payment terms has a downside, which Apruve seeks to mitigate by offering credit management as a service (CMaaS) to B2B sellers.
Many human scale businesses would like to augment their direct (business-to-consumer or B2C) marketing channels with complementary, indirect (business-to-business or B2B) channels—commonly known as wholesale distribution. The problem with wholesale is that it can devolve into an order-processing hairball. Absent better alternatives, wholesale customers submit orders by phone, email, and even fax. Every relationship is unique. The resulting overhead can be prohibitively expensive. Roger Kirkness at Convictional wants to help automate B2B e-commerce to allow sellers to grow their wholesale channels profitably.
Dave Bayless spoke with Justin Cooke, a founder of Empire Flippers, a business broker, about buying and selling online businesses, the evolution of e-commerce, and building a business that serves his goals.
Jen Nord (CPA and CMA) explains what “closing the books” means to the owner of a small business. With modern accounting systems, the process is less daunting than it sounds. In the end, closing the books is a discipline that helps ensure timely, accurate, and useful financial information.
P2Binvestor is an online lender that specializes in making asset-based loans to growing business-to-business sellers who can’t access bank credit. I first spoke with Krista Morgan, P2Bi’s co-founder and CEO, in May. Since then, Krista and her colleagues have launched a new partnership with community banks that may be indicative of a new era of choice for human scale businesses.
Julio Giannotti is the web manager for Interline’s three e-commerce channels, including Scandis.com. Although Interline is late to e-commerce, its online presence and traffic are well established. Consequently, Julio and his team needed solutions that could help them scale rapidly. They turned to the Shopify Flow platform and the new Shopify Plus e-commerce automation tools. By automating repetitive tasks, Julio and his team can focus on more important things like innovation.
With the introduction of Shopify Flow and the Wholesale Channel, Shopify Plus will help accelerate and transform business. By reducing the barriers to commercialization and learning faced by niche producers and specialty retailers, Shopify Plus will increase the incentive and opportunity for merchants to continue to sharpen their market focus.