A recent post from The Official Board highlighted some fascinating shifts in C-suite focus. Four years ago, the authors identified the distribution of executive functions at Global Fortune 500 companies. They ran the analysis again this year and found significant changes. Two stats caught our attention:
- +28% VP Distribution, eCommerce, Retail, Channel
- +131% VP Recruiting
These findings are quite telling. They encapsulate the imperative to launch B2B eCommerce—and the difficulty of doing it well when skilled talent is at a premium.
The B2B eCommerce imperative
The world was shifting to B2B eCommerce before COVID, but the pandemic threw it into overdrive.
In fact, executives were quick to embrace digital self-service. Many even vowed to retain their new digital channels after the pandemic ended.
This massive, permanent shift to digital has paid off—both for B2B vendors and their customers. DigitalCommerce360 has reported that manufacturers grew B2B eCommerce revenue 18.4% in 2021, to $543.25 billion. Meanwhile, Corevist clients grew their revenue 27.2% in the same period—to $1.59 billion in aggregate.
These stats reveal why the VP Distribution, eCommerce role is gaining in prevalence. In the wake of COVID, B2B eCommerce is the way business gets done for manufacturers. It’s table stakes for retaining market share in today’s digital-first climate.
The challenge of mastering B2B eCommerce with limited staffing capabilities
So B2B eCommerce is essential. That’s a given.
Now how do you staff your program?
The massive growth in the prevalence of the VP Recruiting role indicates the staffing challenges that companies face in all areas. It takes more effort than ever to attract and retain skilled talent. Headhunters abound on LinkedIn, and there simply aren’t enough experienced people to go around.
This shortage has rewritten the rules for B2B eCommerce. Organizations are struggling to manage their B2B technology in-house. The scarcity of B2B eCommerce professionals, coupled with the challenge of knowledge transfer in a high-churn environment, make it a risky proposition to own and maintain your solution in-house. (Read more here: 3 Keys To Launching B2B eCommerce In A Tough Labor Market.)
This is where SaaS options come in.
Manufacturers are increasingly turning to prebuilt, templatized, integrated solutions. There’s simply no better way to launch and pivot fast in the high-stakes world of B2B eCommerce. Bonus points if the solution includes prebuilt, managed integration to SAP ERP.
The takeaway: Get pragmatic about B2B eCommerce
Gone are the days of long lead times, custom SAP integrations, and coalitions of vendors. There’s simply no time to play traffic cop between partners with competing interests.
Prebuilt packages allow you to launch fast—particularly if they include SAP integration that supports the complexity of your business rules. That’s the thinking behind the Corevist Platform.