Multi-Company Mobile Sales and E-Commerce Platform
Handshake teamed up with
Square for easy ordering and B2B payments through an application that allows a seamless workflow between the products of both companies.
The application, available on the Marketplace Square App, offers the following features:
- B2B sellers can accept all major credit cards and have their money deposited in their bank accounts within one to two business days;
- Companies can capture the sales representative and customer orders electronically; and
- Manufacturers and distributors can customize each customer's online payment experience to require credit card payments only, to pre-authorize and capture funds later, or to capture customer funds at once.
"The opportunity here for B2B manufacturers and distributors is to speed up the sales process," said Cindy Zhou, senior analyst at Constellation Research.
"Many manufacturers and distributors participate in commercial events, and the ability to make sales immediately via Square increases their cash sales speed," she told CRM Buyer.
The application provides sales representatives with access to real-time data about their customers; accurate product, price and inventory information; and order histories.
"It will be important for sales teams to ensure that they have relevant and effective content to share with customers and prospects so that buyers are confident in their purchases and sales reps can prove their worth. " Webb told CRM Buyer.
Domains of concentration
The offers of Handshake are as follows:
- Handshake Rep, a mobile productivity and order writing application for manufacturers and distributors;
- Handshake Direct, a family of B2B e-commerce offerings designed to facilitate ordering buyers, with mobile and web components; and
- Handshake Hub, an offer of customer service.
Handshake Rep works on iPads and the iPhone. The price is US $ 40-80 per user per month, billed annually, for the main and professional versions. The price of the company version is not posted publicly on the company's website.
Square – an aggregator of financial services and merchant services as well as a mobile payment company – allows users to accept offline debit and credit cards on their iOS or Android devices. He has recently made aggressive moves, such as launching a restaurant app. He also acquired a cryptocurrency license from the state of New York, which boosted his classes on Monday.
Sales representatives can use Handshake Rep with Square to accept credit cards at trade shows and customer appointments.
Smoother sales processes
"The integration of Handshake and Square should simplify the payment process and give companies using Handshake another way to accept payments," said Rebecca Wettemann, vice president of research at Nucleus Research.
"We continue to see automation reducing B2B sales, this gives sales an edge," she told CRM Buyer, "since they can close credit card transactions in person rather than than to direct a customer to a paid site ". potentially shut down completely. "
The number of B2B customers purchasing online has increased over the past year, according to the 2018 report of the Avionos Procurement Officer.
The ability to shop online and the consumerization of the retail business changed buyers' expectations, reducing the role of sales representatives.
"The consumerization of the buying process blurs the boundaries between B2B and B2C," observes Zhou Constellation. "The B2B buyer is the same person who makes purchases online and uses his mobile device to search for suppliers and solutions."
Square is facing stiff competition in the acceptance of mobile credit card payment from established and new companies, including PayPal here, Intuit GoPayment and Wells Fargo's PayAnywhere.
Meanwhile, Handshake faces competition in the field of B2B e-commerce platform.
"We're seeing more vendors cut into this space," said Wettemann, citing the Salesforce CloudCraze acquisition earlier this year as an example.
The Handshake-Square team will also be challenged, suggested Wettemann. "I think we will see more integration and consolidation partnerships in this space."