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Alibaba helps U.S. SMBs accelerate digitalisation amid pandemic

John Caplan, President of North America and Europe of Alibaba.com

America is among the worst-hit nation by COVID 19. As the country’s small and medium-sized businesses (SMBs) fight through the challenges of the pandemic, Alibaba.com, a pioneer in the B2B e-commerce marketplaces and a business unit of Alibaba Group unveiled three new products and services to help these businesses advance their efforts to digitise and pivot online.

The offered products are services include:

  • Payment Terms to provide cash flow control,
  • Freight to enable American SMBs to secure ocean and air shipping for their orders, and
  • Online Trade Shows USA to connect U.S. manufacturers and wholesalers with business buyers in an engaging and live online format.

 

Payment terms

The financing solution is directly embedded into a cross-border B2B e-commerce marketplace, allowing qualified buyers to order goods and pay for them up to 60 days after receiving the invoice. Till now, cross-border trade between SMBs required full payment upfront. Alibaba.com, in collaboration with MSTS, addresses the problems in supply chain financing and gives qualified SMBs an additional way to stay competitive by helping to alleviate cash flow pressures.

Payment terms join Alibaba.com’s suite of financial solutions that provide business buyers with the ability to preserve cash for longer while funding their inventory costs.

“Doing business online is the bridge for American small businesses through this crisis and into the next decade. We are accelerating our transformation to get both sellers and buyers quickly set up for success and provide the critical tools and services that are required for growth – access to supply and demand, shipping and logistics, and working capital. Ultimately, our goal is to give SMBs even greater access to the $23.9 trillion global B2B e-commerce opportunity – which is six times the size of the B2C e-commerce market,” said John Caplan, President of North America and Europe of Alibaba.com.

Freight

The solution, which is powered by digital freight marketplace Freightos helps SMBs simplify arranging their bulk shipments with the ability to compare, book, manage and track ocean and air freight in real-time online, effectively modernising the analogue, opaque and slow process for arranging cross-border logistics.

Online Trade Shows

COVID-19 has drastically limited trade shows, which is a critical channel for trade. Alibaba.com launched a series of category-specific, live streaming experiences designed to convene quality buyers and sellers to meet and transact in real-time over a pre-determined period of days.

“With the disruption of COVID-19, the next era in global trade starts today, from home and online. The grit, resilience and needs of American small businesses who face extraordinary challenges right now have inspired and motivate us to re-imagine the trade show experience for our customers. Alibaba.com Online Trade Shows USA will showcase the innovative products and capabilities of U.S. small businesses and connect them to our rapidly expanding community of more than 10 million global buyers,” said Caplan.

Established since 1999, Alibaba.com was the original Alibaba business. The company is engaged in services covering various aspects of commerce, including providing businesses with tools that help reach a global audience for their products and assisting buyers to discover products, find suppliers, and place orders online.

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