It’s a Great Time for B2B Businesses to Switch to Mobile Ordering
Demonetization of high denomination notes
The Prime Minister of India, Mr. Narendra Modi made a shocking announcement on the 8th November 2016. He announced that the government of India would demonetise high denomination notes of Rs. 500 and Rs. 1000. This meant that the high denomination currency notes would lose their status of being a legal tender across the globe. Consequently, all businesses experienced a stint of chaos in their order of business. Those who traded in cash could no longer use the high denomination currency tenders. The businesses which operated primarily in cash took a larger blow in revenues. The businesses could no longer trade in larger denomination currency notes.
Impact of demonetization on the B2B sector
Businesses, especially the B2B sector took quite a hit in revenues. The reason being that most B2B businesses that deal with smaller businesses are compelled to deal in cash currency. However, now, the smaller businesses could no longer continue to trade in 500 and 1000 rupee notes. Small business owners were compelled to either stop trading or adopt the banking system. Of course, no businessperson would stop trading just because he couldn’t trade in cash. Thus, most business owners had to change their payment systems from cash to banking. However, the banking system can be a little challenging to use, especially when one has to process numerous transactions every day. Within just a few days, the new policy started to take a toll on businesses, small and big alike.
It’s the best time to switch to mobile ordering
Gradually, the B2B businesses have started to adopt banking system into their business process. The businesses have started to adjust to the new government policy of demonetising high denomination currency notes. With the businesses incorporating the banking system into their businesses, this is the best time to adopt digital money. Moreover, this is the perfect time for the B2B businesses to switch from the traditional to the mobile ordering model. The mobile ordering model, with the use of digital money and banking, makes the process of ordering very easy. Mobile ordering model reduces the turnover, payment, and delivery times for all orders. It simplifies and facilitates the process of accepting and placing orders for all businesses. Mobile ordering apps can also help the sales managers eliminate the micromanagement model while improving upon their techniques. There are numerous other benefits of the mobile ordering system, especially for the B2B businesses.
Mobile ordering and digital payments are the future of business
The B2C industry has seen a gradual transformation towards the digital business model over the past decade. Numerous businesses have taken to the Internet and started incorporating banking in their business process. With the incorporation of digital money and mobile ordering, B2C businesses have experienced a steep growth over the last decade.
In the present time, even the B2B businesses have started switching over to mobile ordering and digital money. Digital money can be in the form of digital wallets while the payer can even avail the online banking facilities. The B2B businesses who have switched over to the mobile ordering model are experiencing higher growth rates. Thus, other B2B businesses must adjust with the changing times and trends of business if they want to grow.
While mobile ordering model may be the present of B2C businesses, it is most certainly the future of B2B businesses. The government’s policy of demonetization will greatly support the trend of digitization in business. B2B businesses today can adopt the mobile ordering system to experience higher growth rates now and in the future. The government’s firm stand on the demonetization policy implies that mobile ordering and digital money are the future of business.
Cygneto Mobile – The perfect mobile ordering app for B2B businesses
The Cygneto mobile ordering app provides the perfect interface for B2B businesses. The front end features the capability to accept and modify orders. The users, usually sales representatives, can also add and modify the list of the retailers and routes. The mobile ordering app has the added capability to send the order receipts to the retailers as SMS and Email. The back end of the mobile ordering app features location access and offline sync features. The managers can keep a continuous track of the locations of the sales representatives if the need arises. The location access feature eliminates the need for micromanagement. The Cygneto mobile ordering app also incorporates import and export of data to and from accounting software. There are numerous other benefits which the businesses can reap if they adopt the Cygneto mobile ordering app.
For detailed information about how the Cygneto mobile ordering app can benefit your business, contact us with your requirements. Our sales team will get in touch with you shortly and explain the detailed benefits and how the app can cater to your business. The Cygneto mobile ordering app can be customized based on your requirements by including and excluding multiple models.