Amazon Business Introduces New Technologies to Save Time and Reduce Costs for Business Customers

Rhea-AI Summary

Amazon Business has announced new technological features aimed at simplifying and modernizing procurement for business customers, including large enterprises, universities, and government agencies. These innovations were introduced at the Amazon Business Exchange event in Europe and include the Amazon Business App Center, System for Cross-domain Identity Management, Integrated Quoting, and updates to Budget Management and Guided Buying solutions. These tools are designed to enhance efficiency by streamlining order processing, budget management, and employee spending. Amazon Business, which drives approximately $35 billion in annualized gross sales, aims to address procurement challenges faced by its customers, helping them save time and reduce costs.

Positive

• Introduction of Amazon Business App Center for streamlined procurement.
• System for Cross-domain Identity Management to reduce administrative tasks.
• Budget Management updates for better budget control and visibility.
• Guided Buying enhancements to align purchases with organizational goals.
• Integrated Quoting feature for easier bulk purchasing and cost-saving.
• Amazon Business drives roughly $35B in annualized gross sales.

Negative

• Research indicates 49% of US procurement teams face system complexity issues.
• 95% of procurement leaders see a need to optimize procurement functions.

New innovative tools and features provide business customers with a convenient, intuitive, and personalized buying experience

Through Amazon Business, multinational enterprises including Fortune 100, FTSE 100, and DAX-40 can maximize value for their company to help navigate challenges and stay on track for long-term growth

These technologies were highlighted at Amazon Business Exchange—a single-day event for European industry leaders to discover new innovations and successful strategies to grow their business

SEATTLE--(BUSINESS WIRE)-- Amazon Business (NASDAQ: AMZN), the company’s online business-to-business procurement store, today announced a number of new technology features including the Amazon Business App Center, System for Cross-domain Identity Management, and Integrated Quoting. Amazon Business also made a number of updates to its Budget Management and Guided Buying solutions. These technologies are designed to help large business customers, including multinational enterprises, universities, government agencies, education organizations, and healthcare networks, simplify and modernize the way they shop for business supplies.

Budget Management (Photo: Business Wire)

"Amazon Business wants to change how companies shop for supplies through our unmatched selection, deep discounts, and smart capabilities,” said Shelley Salomon, worldwide vice president of Amazon Business. “We don't just react to the biggest challenges our customers have shared with us; we get ahead of them with new technologies so our customers can use their resources to navigate the unexpected and continue expanding their business.”

Recent research conducted by Amazon Business revealed that U.S. procurement teams are struggling to drive efficiencies within their organization, with close to 49% of respondents reporting complexity of systems and multi-step processes as the main contributors to this problem. As a result, 95% of procurement leaders acknowledge that there’s a need to optimize their procurement functions. Specifically, respondents feel that business buying is cumbersome, convoluted, and time-consuming. Instead of a convenient, intuitive, and personalized experience, teams are spending too much time performing tasks related to processing orders and leaders see improved procurement tools as the solution for this challenge.

To help address this challenge, Amazon Business has introduced and upgraded several tools available to business buyers in Canada, France, Germany, Italy, France, the United Kingdom, and the United States, including:

• Amazon Business App Center is a new one-stop shop where business customers can discover, quickly set-up, and connect their Amazon Business account with more than 25 third-party applications from around the world. Solutions in the App Center include integrated shopping, accounting management, expense management, inventory management, rewards and recognition, and business analytics. The App Center helps save leaders time and money through a single point of discovery as well as eliminating or reducing the need to develop a custom solution for their organization.
• System for Cross-domain Identity Management is a new feature that automatically syncs users and group data from their organization’s identity provider with their Amazon Business account. This feature helps administrators spend less time on maintaining and updating their Amazon Business account.
• Budget Management streamlines the process of setting and reviewing time-bound budgets across an organization. Now, business customers can set spend thresholds and make budget amounts visible to buyers to get ahead of overspending. Amazon Business also launched new ways for leaders to actively manage their budgets including real-time tracking and usage reports, notifications when a budget is about to expire, pre-purchase approvals, and an option to create one purchase order (PO) instead of multiple, manual orders. These updates empower procurement buyers to make informed purchasing decisions for their organization while reducing the amount of time leaders spend auditing their purchases.
• Guided Buying makes it easier for leaders to manage employee spending by steering buyers to purchase decisions that align with their organization’s preferences and goals. Through a new toolbar, account administrators can now instantly prefer products with sustainability certifications in the Climate Pledge Friendly program with a single click. Leaders can also restrict, block, and require an approval for certain product categories with an eligible Business Prime plan. Through easy-to-follow visuals, Guided Buying helps procurement leaders save time educating their employees on what items they should or should not purchase.
• Integrated Quoting is a new feature that helps business customers generate custom quotes for Amazon Business bulk orders as well as other suppliers via third-party e-sourcing and e-procurement platforms. Integrated Quoting is ideal for business customers purchasing more than 1,000 items or more than $10,000 in total value. After requesting a bid, the feature centralizes an organization’s Request for Quote (RFQ) activity making it even easier for leaders to identify cost savings and select the most competitive bid.

Amazon Business makes business buying simpler by offering the same easy-to-use experience customers know and love from Amazon. Since launching in the U.S. in 2015, Amazon Business has empowered businesses of all sizes through unmatched selection, deep discounts, and smart capabilities. Today, Amazon drives roughly $35B in annualized gross sales and has more than 6 million customers worldwide including 96 of the Fortune 100, 66 of the FTSE 100, and 37 of the DAX-40 companies. Working closely with customers to understand their business buying challenges, Amazon Business continues to develop new technologies that make it easy for organizations and administrators to define, meet, and proactively measure progress toward their purchasing budgets and goals. Amazon Business is now a strategic partner to businesses in 10 countries including Canada, France, Germany, India, Italy, Japan, Mexico, Spain, the United Kingdom, and the United States.

“As a purchasing manager for a large public school district, I know all too well that teachers don’t have extra time during the day to buy the supplies they need. Amazon Business makes the buying process easy as teachers are already familiar with the Amazon shopping experience,” said Greg Long, purchasing manager at Seminole County Public Schools. “One of our favorite Amazon Business features is Budget Management. It gives teachers visibility into our budget so they know how much they have to spend, making it easier to stay within our annual budget.”

Visit the Amazon Business website to learn more.

About Amazon Business

Amazon Business helps millions of customers worldwide — from small businesses, schools, hospitals, nonprofits, and government agencies to large enterprises with global operations — reshape their procurement with cost and time savings, greater productivity, and insightful purchasing analytics. Procurement and business leaders enjoy convenient shipping options on hundreds of millions of supplies across categories like office, IT, janitorial, food service, and medical supplies. Customers also have access to a variety of business-tailored features and benefits, including a curated site experience, Business Prime, business-only pricing and selection, single or multi-user business accounts, approvals workflow, purchasing system integrations, payment solutions, tax exemptions, and dedicated customer support. Amazon Business is available in the United States, Canada, Mexico, the United Kingdom, Germany, France, Italy, Spain, Japan, and India. For more information, visit business.amazon.com, www.amazonbusinessblog.com, and @AmazonBusiness on LinkedIn, Facebook, and X.

View source version on businesswire.com: https://www.businesswire.com/news/home/20240620772373/en/

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FAQ

What new features has Amazon Business introduced?

Amazon Business has introduced the Amazon Business App Center, System for Cross-domain Identity Management, Integrated Quoting, and updates to Budget Management and Guided Buying solutions.

How will the new Amazon Business tools benefit procurement teams?

The new tools are designed to simplify and modernize procurement, helping teams save time and reduce costs by streamlining order processing, budget management, and employee spending.

What is the Amazon Business App Center?

The Amazon Business App Center is a one-stop shop where business customers can connect their Amazon Business account with over 25 third-party applications for integrated shopping and management solutions.

What is the System for Cross-domain Identity Management?

The System for Cross-domain Identity Management automatically syncs user and group data from an organization’s identity provider with their Amazon Business account, reducing administrative tasks.

How does the Guided Buying solution help businesses?

The Guided Buying solution helps manage employee spending by steering buyers to preferred products and restricting or requiring approvals for certain categories, aligning purchases with organizational goals.

What is the significance of Amazon Business driving $35B in annualized gross sales?

Driving $35B in annualized gross sales indicates Amazon Business's significant market presence and its ability to cater to a wide range of business customers, including 96 of the Fortune 100 companies.