13 September, 2020
Seventy-five percent of B2B product purchases are made online and 47 percent of buyers conduct web searches during the B2B buying process.1 More B2B buyers are using Amazon Business, but how do you know if it’s the right fit for your organisation? Even the most experienced purchasing leaders are likely to need some data to drive decision making when selecting procurement solutions.
Forrester Total Economic Impact™ (TEI) methodology
To help equip leaders (particularly in large organisations) in evaluating procurement solutions, Amazon Business commissioned Forrester Consulting to examine the potential return on investment (ROI) companies may realise by using Amazon Business with Business Prime. This study, and the TEI methodology, helps companies to demonstrate, justify, and realise the tangible value of initiatives for key business stakeholders.
Forrester took a multi-step approach to understand the benefits, costs, flexibility and risks associated with using Amazon Business and Business Prime. This included interviews with Forrester analysts, Amazon stakeholders, and seven current Amazon Business and Business Prime customers. Forrester used the TEI methodology to conduct a financial model representative of the interviews. From the data, they created a composite organisation for analysis. The composite organisation is a Business Prime customer with 12,000 full time employees (FTEs), subscribed to the Enterprise plan which provides delivery benefits to 110+ buyers.
Key takeaway: Amazon Business simplifies purchasing and reduces costs
Through customer interviews and data aggregation, Forrester concluded that using Amazon Business and Business Prime has the following impact, based on the composite organisation:
Using Amazon Business also saves buyers more than 18 hours annually, and more than 2,000 hours per year due to automation and process simplification.
Make your business case for Amazon Business
Have you quantified risk when driving strategic discussions around procurement solutions for your organisation? Armed with The Total Economic Impact™ of Amazon Business and Business Prime key findings, you can confidently make the case with your stakeholders. Here are a few suggestions to get started: