Chem Procure
A Chemical B2B Marketplace
Introduction
Chemprocure is chemical based US based B2B eCommerce marketplace. It is an online platform that enables buyer and suppliers to buy or sell chemical products and advanced eCommerce features. Sellers here are well known for selling their chemical products to various business firms/indivuals and auction function where buyers can raise bids for the products in the online market. The Client was into the chemical industry but they needed a robust B2B solution. Magneto consulted them to establish a new venture for B2B Ecommerce to create distinct requirements for their project. Client`s perception was really complex and complicated but Magneto helped them to overcome this issue and evolve adequate strategies for their business. Magneto created a totally customized architecture for the client with shipping and payment system integration to achieve their business goals. The main motive of building this project is to source these chemical in the timely manner and enhance the flexibility for both buyers and sellers. This case study interprets the contribution of Magneto to build up the possible narrations for Chemprocure.
Problems regarding the feasibility of business model
- The client was very much unsure about the technical and business feasibility of the solution.
With multiple suppliers under one umbrella, The client required a genuine B2B e-commerce store to reach all of its target audiences. - In a marketplace like this, managing the seller’s identity was the biggest challenge and empowering the startup chemical business was the biggest hurdle, as the buyer don’t prefer to do business from suppliers which are new.
- The proposed business model was quite complex in nature in terms of operations.
- Based on the business model type, this system can follow the standard purchase cycle and buying process.
- Some of the products on the marketplace was exclusive that can’t be sold at normal rates, sellers wanted to sell to the buyers who can offer better prices, designing architecture with the custom module was a fierce challenge.
- In a system where the product is worth a thousand dollars, the upfront payment release doesn’t seem too convenient for the buyer. They will have a kind of hesitation they want to check the product first and then release the payment.
- As chemical Industry having no certain pricing point to deal with, there were several issues while designing the Payment model for the buyer.
- Our client wanted their website brought to industry standards and need to acquire more and more customers in the online market.
- When it comes to delivering gallons of chemicals, it is hard to determine how to deliver the order safely. The client wanted a clean and seamless solution for their shipping module & process.
Solution
By expanding their B2B buBy expanding their B2B business online, Magneto has established a fresh new B2B Ecommerce website by including unique and diverse requirements keeping longevity in mind and avoiding trendy designs. Different solutions were successfully implemented to address the challenges above.siness online, Magneto has established a fresh new B2B Ecommerce website by including unique and diverse requirements keeping longevity in mind and avoiding trendy designs. Different solutions were successfully implemented to address the challenges above.
Benefits
- Doing the detailed analysis and examining the technical feasibility, concise documentation helped the Magneto to design a completely scalable business architecture for the system.
- Due to the exclusivity of certain products, magneto build auction system for the product and given the dynamic option for sellers to list during the upload process and sell the product to the best bidder.
- Being an online B2B chemicals sellers, the client is having a very complex ordering process which Magneto kept in mind and delivered exactly what was asked for increasing the traffic on the website.
- Magneto has created the customized shipping method and plans for the buyer through which they can able to choose the best to their preference such as EX works and prepaid within.
- To build more trust across the buyers, the seller would also able to allow them to pay through the credit limit in which they can get 15-30 days to do the payment.
- To kill the hesitation of the buyer, magneto integrated the third-party payment system which becomes the mediator between the buyer and seller. Once the buyer places the order, buyer release the payment to them and once the buyer receives the product and upon the clear review, this third party system release the payment to the seller.
- Magneto helped the client to create their digital marketing strategies, commission system, packages, seller packages and anonymous listing.
- There are many rich, out-of-the-box features and seamless third-party integrations which are here utilized.
- To capitalize on their newfound popularity, Magneto developed the performance and page load times with the new high-resolution imagery.
- With B2B eCommerce having several roles all having different rights of system access, Magneto helped the client to easily manage and manipulate the data them on-the-go.
Facts and Figures
Chemprocure is credited as an outset of an e-commerce business and forming the leading e-commerce marketplace in chemical industry. After reaching the pinnacle in their traditional business client has recreated and tasted the success in the online B2B domain too. They have built an online presence and capitalize on it. Their online store is now more sorted and user-friendly by making it more advanced and easily accessible.
Take Away
This case study portrays the Endeavour of Magneto IT Solutions who went with a vital performance of great lengths and conducted a study with the in-depth analysis to assure customers a smooth flow of online presence and easy interaction with their sellers.
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