Interview: B2B commerce is broken – innovation can fix it says Bharat Sharma
Bharat Sharma, an e-commerce expert and the founder and CEO of Apex B2B, recently shared his insights on the current state of B2B online commerce and how innovation can address its shortcomings. In an interview with Douglas Blakey from Electronic Payments International, Sharma discussed the challenges faced by mid-market merchants and how his purpose-built platform aims to resolve these issues.
The State of B2B Commerce
According to Sharma, the majority of existing B2B online commerce is fundamentally flawed. He identifies three primary issues: poor data quality, inefficient processes, and an inability to meet the convenience standards set by B2C commerce. These challenges have created a significant infrastructure gap that mid-market merchants struggle to navigate.
Apex B2B: A Purpose-Built Solution
Sharma founded Apex B2B to provide a solution specifically tailored for mid-market merchants, including wholesalers, distributors, and manufacturers. With over 20 years of experience in enterprise technology and commerce, he has leveraged his expertise to create a platform that addresses the unique needs of businesses operating between €10 million and €300 million in revenue.
Value Proposition of Apex B2B
The value proposition of Apex B2B is anchored in five key principles:
- Rapid Time-to-Value: The platform is designed for quick deployment, allowing businesses to see benefits almost immediately.
- Scalable Cloud Architecture: Apex B2B offers a scalable solution that grows with the business.
- Digital-First Trade Experience: The platform provides a modern and user-friendly interface that aligns with current B2B buying behavior.
- AI-Driven Operational Intelligence: Automation and intelligence are embedded in the platform to enhance operational efficiency.
- Long-Term Partnership: Apex B2B aims to build lasting relationships with its clients, supporting them as they grow.
Competing in the B2B Landscape
When asked about competition, Sharma explained that Apex B2B faces challenges from three distinct layers of the market:
- B2C-First Platforms: Platforms like Shopify are designed for storefront conversion and lack the depth required for B2B trade.
- Enterprise Platforms: Systems such as SAP are powerful but often too complex and costly for mid-market merchants.
- Niche B2B Vendors: While some address specific functionality gaps, many lack modern architecture and true integration capabilities.
Apex B2B differentiates itself by being purpose-built for mid-market businesses, offering a cloud-native, integration-first design that enables quick modernization and scalability.
Key Performance Indicators for Merchants
Sharma emphasizes that B2B success extends beyond mere online order volume. Merchants should consider a variety of KPIs that impact sales, operations, finance, and customer experience simultaneously. Some important KPIs include:
- Order Fulfillment Rate
- Customer Satisfaction Score
- Average Order Value
- Cost of Goods Sold (COGS)
- Inventory Turnover Rate
Conclusion
In conclusion, Bharat Sharma’s insights shed light on the pressing issues within B2B commerce and how innovation through platforms like Apex B2B can provide effective solutions. By focusing on the unique needs of mid-market merchants, Apex B2B aims to bridge the infrastructure gap and enhance operational efficiency, ultimately driving sustainable growth in a digital-first trade environment.
Frequently Asked Questions
The main challenges in B2B commerce today include poor data quality, inefficient processes, and an inability to meet the convenience standards set by B2C commerce.
Apex B2B differentiates itself by being purpose-built for mid-market businesses, offering a scalable, cloud-native, and integration-first design that addresses the specific needs of wholesalers, distributors, and manufacturers.
B2B merchants should focus on KPIs such as order fulfillment rate, customer satisfaction score, average order value, cost of goods sold, and inventory turnover rate to gauge their performance effectively.
Note: This article is based on an interview with Bharat Sharma and reflects his insights on the state of B2B commerce and the solutions provided by Apex B2B.
