China’s online commerce market is one of the world’s largest and most successful. With Alibaba as a key global player continuing to expand and with new government efforts aimed at strengthening cross-border commerce trade through online means, the nation is one of the globe’s most sophisticated eCommerce markets.
But that isn’t stopping the industry from working to improve itself. China National Building Materials Group (CNBM), the company that runs the nation’s top B2B eCommerce site OKorder.com, elaborated on earlier-announced plans to work with IBM to boost its digital and analytics capabilities.
“As cross-border eCommerce becomes the key growth point of the eCommerce market in China, meeting global market demands that know no boundaries or time zones was becoming a challenge,” said Zhang Jingsong, president of OKorder.com, in a recent interview with Baseline.
According to reports, a tie-up with IBM means OKorder.com can now use Big Data to “better detect business risks and determine what actions to take,” according to Jingsong, who also serves as deputy general manager of CNBM’s imports and exports unit, as well as the board chairman and general manager of CNBM International.
The overseas warehouses to which OKorder.com is connected provide troves of data for the site. The partnership will help CNBM more accurately and easily analyze that information to assess the status of contracts and orders in real-time, reports said, and to foresee any incoming risks that could impact business.
More sophisticated data analytics also helps streamline the supply chain and improves visibility into supplier performance, reports added, providing new insight into B2B commerce and spending patterns.
Not only will the partnership allow OKorder.com to compete in an intensifying market, but reports also said it will help the company adhere to more stringent and complex regulations and to navigate the varying rules that differ between national borders.
“Global commerce and trade are at an inflection point where boundaries are no longer a factor to truly scale and have a global presence,” Jingsong told Baseline. “But with all that comes the responsibility to deliver a seamless experience for clients.”