At Inxeption, we think about the B2B space in a new way: as Industrial, or I- commerce. Transactions between business customers, whether suppliers selling to product makers or manufacturers selling to retailers to name just two, tend to be more complex and detail-driven than consumer e-commerce sites can easily handle. They demand an industrial strength e-commerce software platform that puts products at the center of an organization.
Inxeption’s I-commerce platform lets customers access and manage transactions and records about any product—whether ordering raw materials to make it, customizing or modifying it for a specific customer, arranging financial terms, or drop shipping it right at a customer’s desired location—from a single screen. I-commerce gives companies maximum flexibility, while also streamlining the actual work of making, selling, and shipping products. It’s a highly secure system, built on blockchain. And since it combines powerful functions and systems that currently may be fragmented and inefficient–if they exist at all–at many companies today, we believe this is nothing less than a 21st century business survival tool.
Our logistics partner, UPS, has reinforced the importance of integration and simplicity in an e-commerce platform. On January 16, 2019, UPS (NYSE:UPS) Strategic Enterprise fund made an equity investment in Inxeption. The investment will be used to create innovative new I-commerce solutions, and it’s an exciting collaboration. Every day, UPS meets the shipping and logistics needs of its customers in more than 220 countries and territories. Christopher Grubb, managing director for B2B e-commerce at UPS, sums up why UPS customers can benefit from our partnership:
“As consumers, we’ve all become accustomed to the ease and efficiency of ordering products online. However, many B2B companies struggle to create the online experience their business customers expect due to the complexities associated with B2B transactions. Unlike B2C, many B2B transactions involve contract pricing, purchase orders, unique payment terms, multi-modal logistics and several other differences.”
“Inxeption understands these differences and created a unique solution designed to streamline B2B e-commerce and drive online sales growth for their customers. At UPS, we are also focused on opportunities to help our customers grow and streamline their operations. Our combined efforts will create an integrated e-commerce platform that easily and efficiently connects the physical and digital worlds.”
Chris Grubb’s insights reflect why Inxeption exists: B2B transactions demand a more technical appreciation of a customer’s unique needs and desires. That’s why companies traditionally relied on distributors and other middlemen.
For example, a specialty paint maker may have relied on a distributor to sell its durable metal paints. The distributor has developed relationships with potential buyers such as sporting goods or outdoor furniture companies; it understands their production schedules and design needs. Sometimes the middleman conveys customer issues back to the paint maker to build the relationship; sometimes they just go find another paint supplier.
The advantage of Inxeption I-commerce is that it can connect the paint supplier and product makers directly to communicate, collaborate, and resolve issues. When the product is the center of the I-commerce platform, suppliers and their customers can interact to discuss product issues, modifications, discounts, custom orders, special shipping needs, and financial terms directly. It creates a relationship that is more transparent, mutually beneficial—and more likely to be profitable than one dependent on a middleman.
Logistics is a key element of B2B transactions and can be a source of complexity and hidden costs. Thanks in part to Inxeption’s partnership with UPS, Inxeption’s I-commerce platform features easy and transparent logistics for customers across a broad variety of market segments from custom lighting to pool chemicals to heavy equipment. And critically, while Inxeption provides the secure platform, it does not interfere with or control the data the parties exchange. Each side of the transaction shares only the data it intends to in a blockchain-secured environment. When transactions are based around a product model, the product maker owns its own customers. And those customers get better service, more transparency and customization in shipping, and the opportunity to collaborate.
When the digital and physical worlds combine to streamline I-commerce, great things can happen.