B2B Marketplaces – Changing The Course of B2B eCommerce

B2B Marketplaces - Changing The Course of B2B eCommerce

Jill Button – President & CEO, ProcurePro Consulting

According to the 2023 B2B Marketplace 500 Report, by Digital Commerce360, “There’s never been a digital phenomenon that’s changed the course of B2B ecommerce faster than B2B marketplaces. Sales on B2B marketplaces are growing annually nearly six times faster than all B2B ecommerce sales.” 

Led by explosion of online buying caused by the pandemic, the traditional model of business to business (B2B) buying has forever been changed.  No longer are B2B buyers content to sit in their corporate office meeting in person with salespeople.  According to a Gartner Survey, 83% of B2B Buyers prefer ordering or paying through digital commerce

Most entrepreneurs, lacking the funding to hire full-time resources, must rely upon third party suppliers to help them run and grow their business.  Several years ago, when searching for suppliers to help with my website and lead generation, I spent countless hours and thousands of dollars with less-than-optimal results.  As a procurement expert with over 35 years of experience, I knew there had to be a better way.  Seeing a shift to online buying caused by the Pandemic, I saw my opportunity to launch the marketplace I had been dreaming of to help small and medium business entrepreneurs save precious time and money.   

ProcureHub, is transforming the way business does business!  A one-stop-shop for B2B services, ProcureHub was launched in June 2023 at the SME Expo.  Buyers can easily search for suppliers using our enhanced search and filter functions, find and compare services, read customer reviews, broadcast a request for proposal (RFP), connect with pre-verified suppliers, then checkout out online, quickly and securely.  

For suppliers, ProcureHub is a great way to list and sell their services to a wide range of verified customers without having to build their own expensive eCommerce site.  Suppliers can also access and respond to RFP’s and get connected to customers who are ready to buy.  With no upfront fees, Suppliers don’t pay until they’ve made a sale.   

B2B Marketplaces - Changing The Course of B2B eCommerce
Image courtesy – canva

My vision is to create a thriving ecosystem that provides entrepreneurs with access to essential services, including Accounting, IT, HR, Recruiting, Marketing, Legal, Telecom, Banking, Software and more. The list of services will grow and expand overtime as we scale across Canada, the US and globally.  


Top benefits of B2B Services Marketplaces for SMB Businesses 

  • Increased access to a wide range of services: users can access a diverse selection of services from various providers all in one place, saving time and effort spent on searching for suppliers.
  • Cost savings: B2B services marketplaces promote competitive pricing and allow users to compare quotes from different suppliers enabling cost savings by finding the best value-for-money services.
  • Time efficiency: users can streamline their procurement process. They can quickly find, evaluate, and select suppliers without the need for exhaustive research and negotiations.
  • Enhanced transparency and trust: Marketplaces offer reviews, ratings, and feedback enable users to leverage this information to make informed decisions and choose reliable suppliers.
  • Quality assurance: B2B services marketplaces quality control ensure suppliers meet essential standards reducing the risk of partnering with subpar providers and ensuring users receive high-quality services.
  • Simplified vendor management: Instead of managing multiple suppliers, users can consolidate suppliers within the marketplace simplifying administrative tasks, like invoicing, contract management, and communication.
  • Scalability and flexibility: B2B services marketplaces offer a scalable solution, allowing businesses to easily find and onboard new service providers to accommodate their evolving requirements.
  • Access to specialized expertise: Users can leverage the marketplace’s network of suppliers to access specialized expertise and niche services that may be otherwise challenging to find. 
  • Increased competitiveness:  Users can tap into the same resources and capabilities as larger enterprises. This levels the playing field and enhances their competitiveness within the market.
  • Networking and collaboration: B2B services marketplaces facilitate networking and collaboration among SMB users fostering business growth and expansion.
B2B Marketplaces - Changing The Course of B2B eCommerce
Image courtesy – canva

B2B service marketplaces will play a critical role in the global economy by fostering efficient, transparent, and convenient connections between businesses. Such platforms streamline procurement processes, reduce costs, and save time, allowing businesses to focus on what’s critical, running and growing their business.  To learn more about ProcureHub’s B2B Services Marketplace visit www.ProcureHub.ca.

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