Today we see yet another stake being put in the ground for e-commerce solutions to capitalize on the needs of SME/SMBs. This release from Alibaba (no need for introduction since most/all readers know the company by now) announces a tripartite product offering specifically designed to assist with shipping, cash flow (obviously the biggest issue of the day) and market reach.
“Doing business online is the bridge for American small businesses through this crisis and into the next decade,” said John Caplan, President of North America and Europe of Alibaba.com. “We are accelerating our transformation to get both sellers and buyers quickly set up for success and provide the critical tools and services that are required for growth – access to supply and demand, shipping and logistics, and working capital. Ultimately, our goal is to give SMBs even greater access to the $23.9 trillion global B2B ecommerce opportunity – which is six times the size of the B2C ecommerce market.”
The Alibaba.com Payment Terms offering is an online trade finance capability being done in collaboration with MSTS, a B2B payables and credit solutions provider based in Kansas. It is an offering that allows both buyers and suppliers to gain some flexibility in payments timing to the benefit of each. The Alibaba.com Freight offer is an online logistics management solution to help simplify this often complicated task, especially for cross border trade. The Alibaba.com Online Trade Shows USA is a livestreaming series of digital events to allow manufacturers and wholesalers interact in various categories as if attending a physical trade show.
‘“With the disruption of COVID-19, the next era in global trade starts today, from home and online,” said Caplan. “The grit, resilience and needs of American small businesses who face extraordinary challenges right now have inspired and motivate us to re-imagine the trade show experience for our customers. Alibaba.com Online Trade Shows USA will showcase the innovative products and capabilities of U.S. small businesses and connect them to our rapidly expanding community of more than 10 million global buyers.”
So some innovative and welcome examples to help get U.S. and global industry ramped up again.
Overview provided by Steve Murphy, Director, Commercial and Enterprise Payments Advisory Service at Mercator Advisory Group.