BigCommerce has launched its new B2B Edition Invoice Portal, aiming to modernize the invoice payment process for large B2B suppliers, manufacturers, distributors and wholesalers.
This new functionality incorporates invoice payments into a centralized online purchasing workflow, providing an enterprise-grade, out-of-the-box invoice payment experience, the open Software-as-a-Service (SaaS) eCommerce platform said in a Monday (Sept. 25) press release.
One of the major challenges in B2B eCommerce is the transition from offline orders to online platforms, according to the release. The BigCommerce Invoice Portal addresses this challenge by enabling buyers to see and pay all invoices online, which is expected to significantly boost B2B eCommerce adoption.
The Invoice Portal offers a solution to the outdated and cumbersome process of invoice payments, the release said. It serves as a crucial component of BigCommerce’s comprehensive suite of B2B functionalities that enhance the online selling experience for B2B businesses.
The Invoice Portal brings several benefits for B2B buyers, according to the release. For example, it allows them to pay multiple invoices for orders placed both online and offline, eliminating the need for manual payment methods and enhancing the buyer transaction experience.
Additionally, it simplifies the invoice payment process by replacing legacy, standalone processes with a smooth, connected experience, the release said. This streamlines the reconciliation of payments with enterprise resource planning (ERP) systems, improving operational efficiency for back-office teams.
Moreover, the Invoice Portal speeds up transaction time, potentially improving cash flow and reducing the risk of late payments, per the release.
The new Invoice Portal comes soon after the launch of the latest release of BigCommerce’s B2B Edition, which offers a comprehensive suite of B2B functionalities, according to the press release. This includes Multi-Storefront compatibility, a modernized B2B buyer portal and headless support.
Many established eCommerce platforms have started to offer headless commerce options, allowing customers to decouple their front-end and back-end functionalities. This approach allows companies to deliver tailored shopping experiences across a wide range of channels, including websites, mobile apps, social media, smart speakers and more.
The launch of the new Invoice Portal comes after a quarter in which BigCommerce reported that its eCommerce platform’s total revenue surpassed $75 million, its subscription revenue grew by 10% year over year, and its partner and services revenue increased by 14%.
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