Nathan Joyes | Monday, April 1. 2013
In my last post, I talked about how you can use electronic transactions to Negotiating Prices like the Big Guys. The concept is to improve efficiencies for suppliers and share those costs savings. Although the supplier benefits may justify the use of electronic transactions, it’s interesting to note that there are also a wide range of potential benefits for your member companies that come for free, creating a true win-win scenario. Let’s look at how electronic transactions could benefit your member companies.
Those that have made the transition to electronic catalogs are already enjoying the benefits of being able to access, search and share product and pricing information more efficiently. But when all your authorized suppliers provide catalog information, it takes the member benefit to a whole new level. Now your members have the ability to search and compare product and price information from multiple suppliers at the same time. Anyone who has searched for products and compared prices using paper-based catalogs will appreciate the time-savings of a consolidated electronic catalog.
Just in case all those free electronic transaction benefits are not enough for your members, you may be able to offer them free money. When you consider all the supplier cost savings that I identified in my last blog post, you may be able to negotiate passing some of those savings along to the member companies in the form of product discounts or rebates. The benefit of free money speaks to members in any language!
Are there other electronic transaction benefits for member companies that I have missed? Leave your comments below…