Embedded Briefing: Why did QuickBooks launch an online B2B marketplace?
- Trada by QuickBooks is a B2B online marketplace for wholesale that sits on top of QuickBooks' existing ecosystem.
- The marketplace aims to simplify online selling for SMBs and help them find customers — or as Trada's tagline goes, “It's like a trade show but without the hassle”.
Intuit QuickBooks is an undisputed leader of the global SMB accounting software market — claiming a sizable 80% of it. In the US alone, it serves more than 29 million small businesses. And the firm’s relationship with SMBs is not limited to accounting solutions, as it offers a variety of other solutions including POS digitization, sales & commerce, and inventory management.
QuickBooks is hence not only on top of SMB minds, but also has deep, multifaceted, and sticky relationships with them. It was only a matter of time before the firm figured out how to flex that muscle, which it has done by connecting these businesses to one another with the launch of a B2B marketplace, thus becoming a middleman and creating an unprecedented value cycle.
Trada by QuickBooks is a B2B online marketplace for wholesale, that sits on top of QuickBooks’ existing ecosystem. It is a community-based network, where buyers and sellers first sign up to become members, and once they’re vetted, they can partake in the market. The marketplace was launched with the intention to simplify online selling for SMBs and help them find customers — or as Trada’s tagline goes, “It’s like a trade show but without the hassle”. The service is currently only available in the US and Australia.
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