We’re proud to announce that Gartner’s first-ever Market Guide for Marketplace Operation Applications identified Oro as a Representative Vendor.
In their report, Gartner selects a small number of marketplace eCommerce products they call Representative Vendors. The selection is based on their functionality and ease of setting up, operating, and maintaining an enterprise marketplace.
To get considered, vendors must demonstrate native B2B marketplace functionality and flexibility to adapt to unique needs, and the ability to support their solution during and after implementation.
A few months ago, OroCommerce was among the 15 selected in Gartner’s 2020 Magic Quadrant for Digital Commerce and recognized as Niche Player. Just like now, the product was lauded for numerous strengths in addressing a wide range of digital commerce needs.
The Booming Marketplace Space
Marketplaces are gaining in popularity around the world, and they offer many benefits to B2B and B2C enterprises alike.
According to Gartner, both B2B and B2C companies leverage marketplace selling channels – that is – inviting third-party sellers to sell on their platforms. The marketplace platform (or as Gartner calls them, marketplace operation applications – MOAs) allow marketplace operators to manage seller onboarding, seller compliance, multiple product catalogs, routing, and more.
Marketplaces on the rise
Gartner asserts that by 2023, 15% of medium to high-gross digital commerce organizations will have deployed their own marketplaces. These new digital ecosystems will remain a source of growth in all areas of digital commerce.
B2B sees tremendous growth
While enterprise marketplaces are used both in B2C and B2B applications, the largest area of growth is in B2B. Since many B2B selling models were disrupted by the pandemic, and giants like Amazon and Alibaba show continued success, marketplaces are considered a resilient and reliable selling model.
Gartner also predicts that at least 70% of enterprise marketplaces launched by 2023 will serve B2B transactions.
OroCommerce a 2021 Representative Vendor
Since marketplace transactions differ from regular eCommerce transactions, marketplace vendors must offer additional features in integrations, flexibility, seller management, product provisioning, multichannel management, and more complex pricing and invoicing functions. Oro excelled in the following areas:
Oro’s marketplace functionality is natively connected to its B2B digital commerce platform, OroCommerce. Furthermore, OroCommerce comes fully integrated with a CRM by OroCRM. This flexibility allows midmarket to enterprise marketplaces to get to market faster.
Oro features a workflow engine that allows sellers to personalize and customize the shopping experience for their vendors and end-customers. Marketplace operators can set customized delivery options, streamline onboarding, approval workflows, alerting, and more.
Oro comes with a number of seller monitoring and reporting capabilities, which are also quite customizable. Oro was recognized for marketplace features such as fund collection, disbursement, and ability to calculate commissions with the help of third-party integrations.
Oro’s B2B and multichannel focus makes it easy for sellers to manage multiple storefronts with flexible product catalogs customized for unique product structures. Oro’s open-source architecture supports millions of SKUs and can easily be connected with product data tools such as PIM systems.
Made for any industry
Oro is built for B2B and B2C businesses, but also supports lesser-known selling models such as B2B2B, B2B2C, D2C, and multi-vendor setups. Its marketplace solution is designed for manufacturers, distributors, resellers, and other brands. It also ensures eCommerce PCI compliance.
Oro: At the Forefront of Marketplaces
Marketplaces are rising in popularity, and Gartner’s decision to offer market research in the area is a testament to that fact. Oro’s recognition in the space means that our solutions are at the forefront of the B2B commerce market’s changing needs. Since its founding in 2012, Oro has quickly made a name for itself with the right focus, skills, and experience. Being listed among the leaders in the space means that Oro’s power, flexibility, and scalability are ideal for today’s businesses and their demanding needs.
Looking to create a multi-vendor marketplace from scratch?
Familiarize yourself with marketplace website features first.
Determine what features matter with a B2B marketplace RFP template.
When you decide on your strategy, use it to guide your vendor decision.
Learn from examples and build a B2B marketplace.
Take the first step with Oro.