EASYB2B and Artificial Intelligence
According to an article published on the Mundo Marketing content portal, EASYB2B was mentioned as one of the top three companies that are using artificial intelligence to drive innovation and improve results.
"Artificial intelligence software market revenue is expected to grow 35% annually through 2025, when it is expected to reach a value of $126 billion, according to the report Artificial Intelligence - In-depth Market Insights & Data Analysis, published by data intelligence website Statista. With an eye on this amount, several companies are already developing their own tools."
- Mundo Marketing
We know that artificial intelligence not only enables the creation of intelligent processes, but also improves upon long-established manual processes. One example of this is the application of artificial intelligence in the supply chain. To illustrate this, let's consider the following example:
Consider a scenario where manual inventory management in B2B companies is greatly reduced, while also reducing human error and increasing productivity by up to three times. Now, visualize also an intelligence that understands consumption patterns and offers personalized recommendations based on data generated by purchasing professionals. It would be a revolution, wouldn't it?
What if we told you that this scenario is already real, and that it was in this context that EASYB2B developed the Smart Catalog after studying the B2B market and identifying a need to apply artificial intelligence in the buying and selling routine of B2B companies.
With Smart Catalog, buying and selling specialists no longer need to waste time searching for products in B2B buying catalogs, worrying about typos or incorrect classification. Through search and indexing technology, products can be easily found in the catalog, as artificial intelligence understands the user's search intent and indexes the most relevant items for the search.
After all, what is the potential of Smart Catalog?
Fast, accurate and robust, EASYB2B's Smart Catalog uses advanced indexing and artificial intelligence capabilities to provide faster, more accurate search results for those using EASYB2B's platform to manage their B2B supply chain. In addition, Smart Catalog offers powerful filtering and sorting options, allowing you to find exactly what you need with ease:
▪ High-volume search and indexing of products and suppliers: Quickly find the products and suppliers you need.
▪ S mart taxonomy to organize and classify products: We simplify the organization and classification of your products making it easier to find and navigate.
▪ A dvanced and personalized search per user: Offer personalized search to meet the needs of each customer's unique needs.
Artificial Intelligence in the Supply Chain
Artificial intelligence and machine learning bring us closer and closer to the main goal of the supply chain: efficiency, with waste reduction.
We know that the digital transformation process is complex, and often involves a long process of implementation and changing long-established habits. But today's world is no longer analog as it was in the past, and companies that are failing to implement new technologies in their purchasing and sales processes are failing to grow. This delay is often the main reason why companies suffer losses due to lack of efficiency.
According to a study by consultancy McKinsey & Company, many companies face significant challenges in the efficiency of their B2B operations. These challenges include lengthy manual processes, lack of supply chain transparency, difficulty locating suitable suppliers and negotiating contracts.
Furthermore, a Forrester Research report highlights that the lack of automation and integration in B2B processes results in inefficiencies such as order errors, delivery delays, and lack of real-time visibility into transactions.
These surveys reinforce the need for innovative solutions, such as the application of artificial intelligence and related technologies, to improve efficiency and productivity in the B2B marketplace, providing benefits for both buyers and sellers.
The digitalization of the B2B market
Digitalization in the B2B market has become increasingly important with the introduction of new artificial intelligence technologies. To understand this phenomenon, it is enough to observe the international movement of international markets, which are usually 3 to 5 years ahead of Brazil.
Check out the chart below, which shows the size of the materials and services market and the percentage of companies that have already started the digital supply chain transformation process.
The digital commerce applications market will generate revenue of US$5.3 billion in 2020 and is expected to grow to US$8.5 billion by 2024.
And in Brazil, there are several companies that have already started the digital transformation process and are reaping the rewards of this initiative. One example is China in Box, a restaurant franchise that uses the EASYB2B platform to connect with its suppliers and ensure a standard of quality in all its branches.
How the China in Box franchise ensures its quality standard throughout Latin America
China in Box, with more than 200 stores distributed throughout Brazil, faced challenges of decentralized management and delays in communication with suppliers. However, the EASYB2B platform was fundamental to overcome these difficulties, offering a centralized, organized, and real-time environment for the entire franchisee network.
Previously, the company dealt with decentralized suppliers and a dedicated back-office to register the purchasing needs, which took at least 3 days. With the implementation of EASYB2B, the purchasing channel was unified for the entire franchise network, resulting in a 23% reduction in the time to supply the points of sale. In addition, a Just in Time process was adopted throughout the network.
For more details about the success case of China in Box and Raia Drogasil, two companies that used the EASYB2B platform to sell with greater efficiency and increase their revenues, see more information.
- Learn more about the China in Box case or Raia Drogasil case.
Conclusion
Imagine you are a B2B company and want to increase the productivity of your buying and selling operation, using EASYB2B's platform it would be possible to create the ideal ecosystem for your company to sell and buy more efficiently, and consequently increase your revenue, allowing managers to add buyers and sellers from industries, franchises, retailers, suppliers, and distributors, offering the best B2B experience.
Don't be left out of the innovation process the world is going through. Companies that have started the digitalization process by 2023 are at least 5 years ahead of their competitors.
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