siliconindia | | DECEMBER 202219Greater Options A greater amount of options brings businesses the ability to strike a deal with one that can deliver services matching the exact requirements. With the market enlisting all possible clients simultaneously, businesses are able to verify an ample amount of service vendors that have the same expertise and skill-set before deciding on one. With segmentation and services profiling done with automated interventions, B2B platforms ease services procurement. Borderless Transactions Digitization has zeroed the effect of geographical restrictions and has enabled businesses to provide and access services even in Tier-II & Tier-III cities. Service providers from smaller cities can offer them to counterparts in the same cities, making the process more cost-effective and revenue-driven. Businesses in the metro cities will also see procurements from efficient vendors in these smaller towns that earlier went unnoticed. OMNICHANNEL SUPPORT According to research by McKinsey and Company, 68 percent of B2B decision-makers in India found omnichannel sales to be more effective than previous sales models. With business models entering hybrid models to execute functions, businesses are not shying away from exploiting their digital presence. Social media channels, Virtual Reality and Augmented Reality support, and access to an offline and online mix present the user with an interaction-oriented experience. As per the data by the Ministry of Statistics & PI, the share of MSME Gross Value Added at current prices for the year 2018-19 and 2019-20 happen to be 30.5 percent and 30.0 percent respectively, which can be expected to grow to 30 to 35 percent by the year 2022. The presence of tier 2 and tier 3 on digital platforms also brings them the possibility to access the growth projected in the market. According to research by McKinsey and Company, 68 percent of B2B decision-makers in India found omnichannel sales to be more effective than previous sales models
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