Define enterprise commerce
Enterprise commerce is a term used to describe the business of buying and selling goods and services to large companies. This type of commerce is different from retail or consumer-based commerce, which involves individuals buying products for personal use. Companies will use enterprise cloud commerce solutions, or enterprise ecommerce solutions to work in this area.
What is an enterprise?
An enterprise is a business, organization, or agency that engages in a particular industry or trade. It may be privately or publicly owned.
What are the different types of enterprises?
While an enterprise can be any size of business, the term is most often used to describe corporations and multinationals. A few types include:
- Sole proprietorship: a business with a single owner.
- Partnership: a business relationship between two or more people or organizations.
- Limited Liability Company (LLC): a business that can be formed by one person (sole proprietorship), two or more people (partnership), or an unlimited number of people (corporation). An LLC provides its owners with limited liability protection and tax benefits.
- Corporation: a business owned by its shareholders who elect a board of directors to oversee management of the company.
What is commerce?
Commerce is a term used in business to describe the buying and selling of goods or services.
What is ecommerce?
Electronic commerce (or ecommerce) is the buying and selling of products, solutions, and services over the internet via an ecommerce website. Ecommerce is an integral part of the global economy, and it is the driver of millions of companies around the world.
What are enterprise products, solutions, and services?
Enterprise level offerings are the types of products, solutions, and services that large businesses use to run and streamline their operations. These products, solutions, and services can include anything from software to consulting, depending on the needs of the business. They could also include SaaS solutions.
What is enterprise software?
Enterprise software, also known as enterprise application software (EAS), is software designed to support the needs of a large organization. The software is often used to support functional areas of a company, including sales, human resources, finance, operations, and more. Here are some examples of the various types of software:
- Enterprise resource planning
- Project management
- Customer relationship management
- Business intelligence
- Human resource management
- Supply chain management
What is enterprise resource planning (ERP) software?
Enterprise resource planning (ERP) software is a type of software used by large organizations to manage business operations and resources. It unifies the management of business processes within one system. ERP software enables different departments to interact with each other in a more integrated, streamlined manner. ERP software can help simplify processes for manufacturing, distribution, sales, customer service, and more.
What is enterprise ecommerce?
Ecommerce is the sale of anything over the internet, whereas enterprise ecommerce is the sale of enterprise solutions to large companies. The capabilities of these solutions far exceed those of products and solutions purchased by SMB B2B customers. Enterprise ecommerce software offers additional capabilities to support high-volume sales, manage customers, and track inventory.
McKinsey says that in 2022 over 30% of B2B customers are purchasing solutions through “digital and self-service channels”. More executives report that they are comfortable purchasing $1 million dollars and above enterprise solutions via the internet.
What is an enterprise commerce management platform?
An enterprise commerce management platform helps an organization manage customer data and run their enterprise sales business with greater efficiency on the backend with internal operations. Typically, an ecommerce platform enables an enterprise provider to unify all their services on one platform. Some common benefits of enterprise ecommerce platforms include:
- Automating the procurement process
- Streamlining supply chain management
- Providing analytics on customer behavior
- Managing inventory, catalogs, and orders
What is an enterprise customer?
An enterprise customer is a customer that comes from a large company, and is specifically not from a small business, or SMB. Their purchasing power and the scale of the solutions and products they need are on a much greater scale, due to geographic reach, number of employees, revenue, and many other factors.
What is enterprise commerce cloud?
Enterprise commerce cloud is a type of off-site, SaaS solution for delivering enterprise commerce from the cloud to specific, large, multinational organizations. It could be considered a type of online store for big business, but one that only deals with B2B, and B2C would not be able to purchase there.
