How Treasurers Can Keep the Cash Flowing Freely
Online marketplaces are increasingly seen as one of the most effective ways of leveraging customer and seller relationships. A successful ecosystem requires the provision of a seamless experience for all, creating both challenges and opportunities for treasury, says Basak Toprak, Head of eCommerce solutions in EMEA, J.P. Morgan.
Without doubt, online marketplaces offer huge growth potential. To be successful, however, the operator has to be exceptional because there are certain well-established benchmarks by which both business-to-consumer (B2C) and business-to-business (B2B) sites will be judged.
If the standards are met, and a seamless experience is offered every time, then the ecosystem will grow. The natural evolution of the marketplace is to enable the onboarding of external sellers. This extends product, customer and geographic reach for all stakeholders. For the treasurer of a business with online marketplace ambitions, this is a moment to shine.
Marketplaces drive growth by opening up new revenue opportunities and improving brand value and recognition. This is especially the case for companies that have previously focused on selling through traditional sales and distribution channels, notes Toprak.