B2B Visibility and Insights
Visibility into the status of B2B transactions can reveal important information. Insights about their performance can revolutionize business partner relationships.
How can you effectively manage your business when you don’t have visibility and control over B2B transactions?
Each day, your organization manages thousands of transactions occurring with suppliers, partners, and customers. These communications drive orchestrated actions that are critical to your enterprise. If something goes wrong, it creates problems for a lot of people in a lot of different departments. And that’s a problem for you to resolve.
Unfortunately, many organizations don’t have real-time insights into their B2B transactions. And while others may have digitized the processes, they aren’t extracting the full value of transaction information to improve their overall performance. Here are common pains many organizations face as a result.
- Antiquated systems and manual processes prevent progress.
- Different perspectives reveal different truths.
- Poor visibility may transform handshakes into pointed fingers.
- Many companies lack a single source of truth.
Antiquated systems and manual processes prevent progress.
Some small organizations are still communicating using paper documents, faxes, emails, and the exchange of Excel spreadsheets. Others have antiquated digital systems that aren’t compatible with modern technology. When an issue arises, resolution teams within these companies rely on unwieldy, time-consuming manual processes to research and resolve the problem.
- More than half of all invoice processing requires extensive manual input.
- 80% of businesses still use manual or only partly-digital tools to manage their procure-to-pay (P2P) cycle.
Lightwell B2B integration consultants will show you how integration can eliminate time-consuming manual processes. Once you’ve transitioned to digital processes, our visibility and analytics solutions can reduce errors by up to 90% and improve performance.
Different perspectives reveal different truths.
When information is concealed in siloes, each member of the business relationship may see a different version of the truth:
- The seller might not know that an order they shipped will arrive late due to an issue with the transportation company.
- The transportation company might not realize that the delivery they’re making is a partial shipment due to a change in the order.
- The buyer might not have insight into the exact delivery date because shipping was managed by the seller. And they expect to receive everything they ordered at the same time.
Each partner has a unique view of specific activities rather than a holistic perspective of the entire process. This lack of integration, visibility, and insight can adversely impact relationships when expectations aren’t properly managed and met.
Our B2B integration consultants can recommend process improvements and visibility solutions to give members of your ecosystem real-time visibility into the status of transactions. You can start off with internal visibility and grow to empower your network partners with valuable information that helps strengthen and secure your partnerships.
Poor visibility may transform handshakes into pointed fingers.
When a transaction goes awry, who’s responsible? Missing data, incorrect information, and untimely updates can cause issues that are disruptive to business and to business relationships. All too often, when an investigation begins to determine the source of the problem, partner trust becomes the first casualty.
- 44% of B2B buyers experience online order errors with their top 10 suppliers.1
- Most enterprises have only 20% visibility into their supply chains.2
- 87% of CSCOs report difficulty predicting and mitigating disruptions.3
1,2,3 Incisiv, Beyond Visibility: The 4 Benefits of Digitizing Supply Chain Processes
Our B2B Insights and Visibility solutions not only help prevent issues from arising, but also provide details as to where any disruption or miscommunication occurred. This information can be invaluable in reaching mutually beneficial resolutions to problems so that all partners achieve satisfaction.
Many companies lack a single source of truth.
84% of Chief Supply Chain Officers say lack of visibility is their biggest challenge. Like them, you may never know the entire truth about your B2B transactions without access to completely transparent processes that provide real-time visibility. And if you want to get ahead of the game, you’ll want to apply analytics to that information. With the power of AI, you can obtain actionable insights to help you control costs, maximize efficiencies, and take on new business demands.
Our B2B integration consultants can show you how we’ve helped other organizations adopt new technologies to provide a single source of truth to their supply chain partners. Our Lightwell B2B Visibility Portal, IBM Sterling B2B Integration solutions, and vast experience in data analytics have enabled us to transform organizations throughout the world so they can seize competitive advantage and outperform the laggards.
Get better control of B2B transactions with end-to-end visibility.
Then gain greater control of the future with better analytics and insights.
The seamless, error-free transfer of critical information is essential to your enterprise and to the strength of your B2B partner relationships. When you digitize information and adopt new technology intelligence systems – particularly those that deliver insights and visibility – everyone in your ecosystem benefits. You lay the groundwork for improved collaboration, automation, and agility, and put your organization on a trajectory toward greater competitive performance.
- Increase speed and agility
- Promote collaboration and improve productivity
- Improve monitoring and management
- Promote better partner performance
- Mitigate risks and improve outcomes
B2B Integration solutions, augmented with insights and visibility, reveal transaction issues as they happen. This real-time information helps you eliminate blind spots and bottlenecks to minimize disruptions.
Furthermore, transaction intelligence gives you the ability to react quickly to important macro or micro changes whenever they occur in your ecosystem.
Three out of four line-of-business leaders say the lack of actionable insight into key supply chain processes impedes performance. A B2B integration solution augmented with transaction intelligence gives your internal teams greater visibility based on their role and function.
- Insights and visibility that use natural language empower line-of-business teams with a simple understanding of the health and performance of supply chain processes, so they can make better decisions working together.
- Your IT team can use these solutions to monitor more granular technical issues rather than performing tasks better managed through automation.
Your ability to quickly understand, analyze, and act on information protects your company, improves operations, and generates competitive advantages. The knowledge you gain from AI-powered insights and analytics enables you to:
- Simplify management and monitoring
- Fine-tune operations and supply chain performance
- Gain actionable insight from the information flowing between systems and partners
- Provide enhanced visibility and control for business users, technical managers, and partners
When you employ effective analytics techniques, you can shift partner relationships from tactical to strategic and propel partner performance from acceptable to exceptional.
Organizations that have implemented metrics and procedures for measuring partner performance report partner improvements of 26% percent on average.4 They’re able to:
- Avoid supply chain risks and disruptions by monitoring partner performance
- Protect brand reputation by aligning partner KPIs and SLAs
- Segment and rank partners in line with organization expectations
- Create contracts based on past performance, establish common goals, and improve trust.
4 Incisiv, Beyond Visibility: The 4 Benefits of Digitizing Supply Chain Processes
Advanced analytics can help you detect, prevent, and remedy anomalies in your supply chain. So, you can bridge the gap between supply chain planning and execution, and between issue identification and action. The result is better performance and partnerships that are built on a foundation of transparency and trust.
Lightwell illuminates your path to greater insights and visibility.
We believe that every organization that has made the transition to modern B2B Integration solutions should focus on extracting full value from the information that flows between their systems and those of their partners.
Lightwell B2B Integration consultants understand B2B visibility and analytics solutions, and we’re happy to explain how the addition of these powerful innovations has enabled our clients.
We'll help you:
- Monitor and manage transactions in real-time, giving them better control of the entire lifecycle of all of their B2B transactions
- Identify and rectify issues before they become disruptive problems that adversely impact performance and partner relationships
- Empower business and technical stakeholders with information that helps them be more productive
- Ensure SLAs are met by developing and monitoring KPIs via real-time dashboards
- Improve partner performance by creating and tracking specific performance criteria by which business partners can be assessed
- Make informed, timely decisions to improve operations, increase profitability, and recognize superior B2B partner performance
Gain complete control of transactions
Our powerful Lightwell B2B Framework and the Lightwell Visibility Portal gives you complete tracking and control of transactions. Additionally, we combine the B2B Integration expertise of our consultants with the power of IBM to leverage the AI-powered capabilities of IBM Sterling Business Transaction Intelligence (BTI), IBM Sterling Supply Chain Insights, and more.
With our solutions and expertise, IBM’s legacy of excellence, and your understanding of your organization’s needs, we can bring real-time, single-truth insights and visibility to your B2B partner network wherever in the world it may be.
The Lightwell Visibility Portal provides an unprecedented level of visibility, control, and insight.
A powerful solution on a single pane of glass
Business users, technical managers, and partners can access information through highly configurable, self-service dashboards that are tailored to their individual needs.
Our display is so easy to use that business users are empowered to answer questions and resolve issues without the need for IT involvement. What’s more, users have fast access to underlying data.
IBM Sterling Business Transaction Intelligence (BTI) identifies discrepancies before they become disruptions.
From order to delivery
Predictive B2B transaction insights and real-time visibility enable you to mitigate potential problems and predict the likelihood of events. This means you can reduce the quantity and frequency of supply chain disputes and foster more productive, positive relationships.
IBM Sterling Business Transaction Intelligence delivers real-time, deep visibility into transaction lifecycles and partner performance. Using a graphical user interface and Natural Language search, powered by Watson, users are able to quickly view the status of each order, shipment, and invoice in real time.
Then, as the system continues to be utilized, Watson AI-driven machine learning enables it to detect issues, automatically predict events, and send alerts to prompt intervention.
- Give every stakeholder visibility and insights to work more productively.
- Reduce or avoid unexpected delays and issues.
- Gain specific benefits for each party in the transaction.
Give every stakeholder visibility and insights to work more productively.
IBM Sterling BTI delivers the information and predictions required to support your internal staff:
Customer support rep
- Easy to navigate transaction view to answer questions
- Detailed envelope and payload visibility
- Trends with insight for improvement
Reduce or avoid unexpected delays and issues.
This powerful tool allows you and your trading partners to share a single version of the truth with a secure, immutable IBM Blockchain relationship that deepens trust and transparency.
With IBM Sterling Business Transaction Intelligence (BTI) Multi-Enterprise Edition, order acknowledgment and shipment documents are processed to quickly identify the moment a specific PO begins to experience an issue that can lead to a larger disruption. In the event of anomalies or delays in delivery, the buyer and shipper are notified simultaneously. The delays are also summarized in an alerts dashboard.
Supply Chain Alerts
Proactive notification of potential disruptions such as rejected or canceled orders or changes in shipping quantity.
Cycle Time Predictions
Machine learning model establishes historical trends to predict with a high level of probability when an order will be acknowledged and when an order will be fully shipped.
Gain specific benefits for each party in the transaction.
The buyer can…
- Spend less time and effort tracking shipments.
- Proactively re-plan warehouse resources to accommodate late deliveries
- Rely upon up-to-date information to minimize disruption to warehouse operations
The transportation company can…
- Get status without manually logging into the carrier portal
- View the preceding transactions that may have caused confusion or issues
- Reduce the volume of customer support calls requesting shipment status
The seller can…
- Provide immediate notification to buyers of changes and delays of goods in transit
- More quickly identify the root cause and more quickly enact mitigation plans
- Avoid missed SLAs and penalties by employing alternative sources of supply to meet previous commitments
When you trust Lightwell, your partners trust you.
To achieve the full value of your B2B partner relationships, you need to obtain their confidence and trust. You do that when you provide insights and visibility that enable them to perform their very best.
Our B2B transaction insights & visibility solutions deliver:
- Transparency that improves B2B partner performance and creates open, trusting, collaborative relationships
- Insights for optimal ecosystem productivity that maximizes revenue while minimizing cost
- Agility that enables quick adaptation to macro or micro changes throughout your network
- Increased efficiency that helps you achieve more value from your resources and stakeholders
- Smarter processes that continuously learn from past and present to predict the future
- Better partners, better performance, and better competitive positioning.
Let’s Get Started
We understand the many challenges you’re now facing, and we also appreciate the changes you may face in the future. Let us help you implement solutions that will help you monitor activity, make insightful decisions, and collaborate more effectively to build strong, trustful relationships throughout your B2B partner ecosystem.
Contact us today. Discover how Lightwell B2B consultants and IBM can help you achieve optimal supply chain performance.