Recently we were selected by Forrester to participate in it’s Forrester Wave™ evaluation, entitled The Forrester Wave™ B2B Commerce Suites for Midsize Organizations, Q3 2017.
Released this week, the report assessed how well B2B commerce suite vendors are meeting the needs of the midsize market. We are very proud that the independent research group named Insite a “leader” based on a detailed list of 35 criteria, and among a group of 11 companies in our industry.
I was also very pleased to see the report mention that our customers are consistent in describing our team as “very responsive to client needs” and that we’re known for incorporating direct client feedback into our product development process. Really listening to our customers, and responding to their suggestions by continuously improving our product and our processes has always been one of our primary goals at Insite.
Most of us have seen the predictions from Forrester and others predicting that the B2B ecommerce market will top $1 trillion by the year 2020. I believe a large percentage of that growth will be in the midsize market for manufacturers and distributors, where Insite has always focused. Although many attribute that growth largely to increased focus on digital strategy and transformation, it is clear that generational changes as well as the evolution of mobile use are also key drivers.
Built for B2B™. Probably the single most important element of Insite’s history is that we have been architected for manufacturers and distributors from the very beginning. Since our inception, Insite has worked hard to link the digital business goals and related requirements for midmarket manufacturers and distributors to our technology capabilities and investments. We offer robust native “out-of-the-box” functionality to power the complex business requirements of B2B eCommerce. Configure rather than customize reduces the time and cost to implement—and with our new cloud offering, we provide the hosting and software upgrades with our annual subscription. Goodbye software versions and costly upgrades!
Beyond Commerce. We also believe, given the investment required to integrate and extend back office systems and complex processes, that midmarket B2B companies need to expand their eCommerce vision beyond just a website. This includes driving enhanced and unified experiences for all the key personas of B2B, including customer researcher, procurement and field users, outside sales and customer service reps, and channel partners.
We realize that for B2B companies not everyone is sitting behind a desk all day. We also know that 85% of millennials considered their mobile device essential to their work. That’s why we are so passionate about seamlessly extending our eCommerce capability to provide a customer branded mobile app without any additional implementation cost required. For most manufacturers and distributors the majority of their revenue comes from existing customers. The ease of recurring use of a mobile app drives much higher adoption and engagement for customer and sales users in the field—to scan a barcode and look up a product, to check on a delivery at a job site, to order a part in the field. Our customers can add their own branded native app for iOS and Android to their InsiteCommerce solution for only $15,000 per year, unlimited users.
As experts in midmarket commerce, we know that budgets aren’t always there for expensive customizations or added service costs. Our customers need a platform built for the enterprise but affordable for the midmarket. InsiteCommerce now offers subscription based pricing with hosting and upgrades included and fully transparent pricing tied to order levels. As a result, we’ve opened up a whole new group of companies that previously couldn’t afford a best in breed solution like this one. That’s tremendously exciting.
This latest midmarket report from Forrester reaffirms for us our focus on the midmarket, and the work we’ve accomplished creating solutions that bring best in breed, out of the box B2B commerce capability to our customers. As this market becomes smarter and more knowledgeable they understand the added value of a solution like Insite, that delivers the vast majority of their complex commerce business requirements right out of the box.
And we’re just getting started.