Amazon Business has attained $25 billion in global annualized sales and grown to cover eight additional nations since rolling out in the United States in 2015, according to a press release.
Over 5 million businesses now utilize international procurement service Amazon Business, running the gamut from individuals running proprietorships to large corporations operating in multiple countries with tens of thousands of staffers on one account, according to the release.
The platform’s quickest expanding customer segments domestically are governmental organizations and large companies. To that end, Amazon serves 90 of the 100 biggest cities and counties, 45 states and a number of other governmental organizations.
“We started working with Amazon Business to give our agencies the familiar buying experience they use at home, but with the open, fair, and transparent process we need for state government,” State of Connecticut Chief Procurement Officer Carol Wilson said in the release.
Additionally, over 80 of the Fortune 100 firms use Amazon Business, including ExxonMobil, Cisco, Intel and Citigroup.
Amazon Business has also rolled out functionalities for customers that are small companies to simplify their clerical tasks, saving time and financial resources that might have been otherwise spent on more software.
Advertisement: Scroll to Continue
In one case, Amazon Business’ connection with Intuit QuickBooks, lets clients simply integrate their purchases on Amazon Business into their accounting system in lieu of needing to conduct manual reconciliation.
The news comes as the eCommerce industry has moved quickly during the last year to meet the requirements of its expanding — and more demanding — client base amid the pandemic.
Consumer-facing companies have rushed to get merchandise out the door, but such speed also means they have to make quicker payments to their suppliers and other business-to-business (B2B) players working behind the scenes.
In addition, firms are seeking additional customization in terms of having their B2B payment needs met, Ragui Selwanes, director of Business Payments for Amazon Business previously told PYMNTS in an interview.
