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Open Commerce Platform and Network
Business to Business wholesale distribution is under tremendous competitive pressure to modify their business model, deliver improved service levels, lower prices, and easier returns to ensure a positive customer experience. Wholesale Distributors traditionally been prone to inefficiency and friction. Orders via email, telephone do not update immediately, creating potential delay for customers. Inventory levels cannot be monitored in real-time, there is often a disconnect between the ordering and billing process. These points of friction reduce the availability and quality of data on which efficiently manage supply chains.
In a digital economy, connectivity and collaboration drive business process transformation. The ‘old/traditional’ approach show information silos residing either in different places in the organization as ‘islands’ or in two different organizations. The ‘new’ network approach demands connecting supply chain partners through linked processes but allowing individual execution according to those processes (shared business logic). Due to the complex nature of the digital market no single actor can provide a service to the customers with an end-to-end solution on its own.
OpenXccess responds to this challenge by developing Open Market Network multisided digital framework to transform where business is conducted across network with anyone, anywhere, anytime. Open Market Network will transform siloed linear business to interconnected digital business. Open Market Network will seamlessly connect the entire value chain, simplify collaboration with their trading partners, enable smarter business decisions, and extend their collaborative business processes. Open Market Network will deliver the connectivity and digital-Infrastructure for business that the network economy requires.
Technology is a core component of B2B digital distribution business model. Open Market Network brings to the table a blueprint solution that enables optimal operations and seamless, personalised, relevant experiences across all targeted channels.
Technology at the Core of Business Success
With the disruption caused by digital and the unification of channels, players in this sector face many challenges. From optimization of every process such as planning, procurement and fulfillment to creating seamless and optimal user experiences on every channel, distributors and wholesalers could turn these hurdles into opportunities. The Open Market Network will not only open new markets and differentiate from competitors, optimized operational efficiencies will increase profitability.
Rise of Platform Economy Access to capital
The economy is becoming increasingly digital and the digital commerce and financial system needs to adapt to these changing demands. The nature of commerce is changing as new technologies shape a new economy. An increasing amount of activity is taking place online as platforms enable direct connections between people and businesses globally. These online interactions are generating vast quantities of data that are being used to improve and personalise products and services.
Online platforms have enabled a digital economy, facilitating a shift away from asset ownership amongst some cohorts of the economy. The decline in asset ownership reduces the ability for these groups to access certain financial services, such as secured lending, given the lack of collateral they can provide. And, as the economy has become increasingly capital light, flexible and dynamic, the financial system has become more reliant on the value of intangible assets.
A digital platform economy is emerging, creating online structures that enable a wide range of human activities. This opens the way for radical changes in how we work, socialize, create value in the economy, and compete for the resulting profits. Their effects are distinct and identifiable, though certainly not the only part of the rapidly reorganizing global economy. Digital platforms are multisided digital frameworks that shape the terms on which participants interact with one another. The application of big data, new algorithms, and cloud computing will change the nature of work and the structure of the economy.
OUR PILOT TO LAUNCH PROGRAM
We are close to launching our first closed loop pilot. The public beta program will begin in mid 2023 followed by Commercial Launch by end of 2023. This will lead to general availability of the Open Market Network enabling global trade and finance.