Previously, we talked about the social e-commerce network, gotradelive and its aim to give businesses the freedom and flexibility to set their own terms for sales and deliveries. This week it announced the launch of its service in the US.
Reduce Inventory, Increase Profits
Lowering inventories is one of the quickest ways to decrease working capital needs. The pressures to reduce inventories, and therefore working capital requirements, are increasing, especially as many companies still struggle to balance their budgets. If you have unused inventory, how do you go about turning that extra supply into profit and opportunity?
In California, where gotradelive is making a concerted effort to promote its platform, the US$ 2 trillion economy is home to more than 3 million businesses, and a major exporter of goods and services globally. By using gotradelive’s social networking and e-commerce technologies, businesses can connect with their customers, suppliers and partners and promote, sell and source products anywhere in the world. Specifically, gotradelive is hoping that California industries such as agriculture, wine, computers and electronics, building supplies and medical supplies can leverage the platform to move product faster and more cost-effectively.
Tools, Trading & Translation
Unlike other e-commerce and bidding and buying sites and solutions, gotradelive is free to use and doesn’t charge transaction fees or commissions on sales. Companies can register and securely download their customer or supplier contacts into the system, and begin trading on their own private and confidential commerce network.
Since its initial launch, gotradelive has incorporated new efficiencies and speed to the way businesses market their products, sell to their customers and source from suppliers, including:
- Social networking and communications tools that make it easy to upload sales and marketing content, promote deals and offers, find interested buyers and stay in touch with extended customer networks
- Forward bidding and selling tools that allow invited customers to bid on private deals and offers and sellers to get the best price on merchandise
- Downward bidding and procurement management tools that allow businesses to communicate with multiple suppliers and find the best terms and prices from the right vendor
- Customer and supplier network creation tools that make growing your private network as easy as securely downloading your contact database and adding new contacts whenever you want
- Currency translation to make it easier to bid, buy and sell globally
But it’s not just California that can benefit. Trade and industry associations, as well as individual businesses nationwide, can use gotradelive to import, export and trade goods.