SUCHIT KUMAR , CEO TEXUB
Q & A
EDITOR ’ S
SUCHIT KUMAR , CEO TEXUB
When participating in online marketplaces , there are numerous benefits for channel partners . An online marketplace provides a platform for channel partners to digitally trade and have global reach both in buying and selling . Channel partners can scale their businesses and enhance their products in the new territories . Additionally , strategic regional tie-ups with prominent industry vendors would help both marketplace and
Channel partners can gain access to much larger audience than they could through their own website or store . This can lead to increased sales and revenue .
its vendors grow substantially in the market and boost business .
Channel partners can also gain access to a much larger audience than they could
through their own website or store . This can lead to increased sales and revenue .
Moreover , channel partners could expand their business with minimal costs and enhanced profit . Online marketplaces can help channel partners save money on marketing and advertising expenses . They can also help reduce overhead costs associated with operating a physical store . It streamlines the sales process for channel partners by providing tools for inventory management , order fulfilment , and shipping . This can help channel partners improve their operational efficiency and reduce costs .
Online marketplaces have been able to eliminate the concerns of limited reach , variable price and high cost which were the major challenges faced by partners . But while this platform provides significant opportunities for channel partners to scale their business , there are also several challenges for channel partners while transforming and upskilling themselves digitally .
Today , disruptive innovation is the new norm . With technology changing the business landscape , there is an urgent need for the complete transformation of a process . The future trend of businesses adapting to a connected hybrid experience is likely to disrupt the trade ecosystem . One of the challenges is cultural resistance to change which is also known as organisational inertia . Channel partners may be accustomed to traditional ways of doing business and may resist changes to their business processes and systems .
It is imperative that the channel partners accelerate their digital shift to meet the emerging challenges of the evolving business landscape . Digital trading and expanding the scope of business is one of the broad arrays of initiatives channel partners need to adopt . And , with the right support and guidance , channel partners can successfully navigate these challenges and reap the benefits of digital transformation . •
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