Previous Platform
WooCommerce/ Custom Software Development Company/ B2B Marketplaces
Industry
Industrial Safety Equipment
Use Case
To connect their online catalogs to their existing large client’s Schneider Electric Procurement System
QMT SAFETY is a Singapore based company which offers high quality safety equipment globally, with brands including 3M, WESTEX, HORR, HoneyWell, etc.
In this episode of our coffee session, we have Mr Elson, Manager of QMT Safety to share his experience of using SourceSage Connector to sell DIRECTLY to their existing large customer, Schneider Electric.
Challenges
"Even for myself, assuming I am not using SourceSage in the first place, I can try to create an online store with the help of another software vendor using woocommerce or B2B Marketplace. However, to connect with multiple MNCs buyers’ procurement softwares in multiple countries, that will be a tedious process. In using SourceSage, it helps to achieve speed to market in having a personalized well-designed store and also in getting sales directly from MNCs via punchout from their procurement softwares globally, which otherwise will be impossible." Mr Elson, Manager QMT Safety
Solution
According to Elson, SourceSage differentiators lie in the ability to seamlessly connect selected products from SourceSage powered Online Stores to the different MNCs procurement platforms globally, and the personalized onboarding, catalog and integration support from SourceSage's Team. He mentioned that while there are other B2B marketplaces or online stores, a concern would be whether these platforms could automate punchout integration in different regions as seamlessly as SourceSage. With SourceSage personalized onboarding, it cuts down time and costs when it comes to setting up a whitelabeled online store and increases stickiness to existing clients so that business owners can focus on other aspects of the business. This is different from B2B marketplaces where competitors’ products will also be shown to your customers.
Results
According to Elson, while there are multiple ways to reach out to buyers, for instance, marketplaces, there will also be significant costs involved such as merchant discount rates (MDR). Without the need to invest too much, SourceSage offers competitive rates to ensure that suppliers like QMT Safety can be equipped with their own online stores and punchout capability via SourceSage Connector.
"After using SourceSage Connector, QMT Safety can also now consider connecting to other MNC buyers beyond Schneider Electric. Beyond displaying products on procurement platforms, SourceSage Connector can also expose other MNC buyers in the ecosystem to create new business opportunities."