Alibaba Group Holding Ltd (NYSE:BABA) has revealed partnership plans with a multichannel retail management venture called Brightpearl.
The retail venture is a startup created by retailers with the aim of benefitting retailers. The partnership will be instrumental particularly for Brightpearl merchants and retailers purchasing products through Alibaba. It will also allow them to list their sales channel on the e-commerce network, thus providing multiple opportunities for growth.
The two firms entered into a partnership agreement on June 8, 2015. Brightpearl gives wholesalers and retailers an opportunity to make their business more profitable and promote growth. Their ERP software allows them to maintain the trade through multi-channel sales, purchases, accounting stock control and a few other features. The system compiles all of them into a cloud-based system.
According to Brightpearl’s president, James Scott, the time goods are purchased and when they are sold heavily determines the ability to make profits. Small businesses, however, find it more difficult to maintain profitability. This is mainly because their opportunities are limited particularly their market reach.
However, the current e-commerce technology provides the opportunity for these small-scale businesses to rise beyond the limited range. By partnering up with Alibaba, Brightpearl will be able to optimize and extend its supply chain and increase its chances of success.
The partnership will allow Brightpearl customers access to goods listed on the Alibaba e-commerce website. It will also provide an opportunity for them to expand their operations, raise the level of sales and improve the chances of success for the merchants. Brightpearl product manager Scott Hill described the partnership as an interesting aspect that small businesses should not overlook. There is a lot of untapped potential and opportunities ahead through such business strategies.
It is also a great opportunity for Brightpearl to ride the wave of change as Alibaba Group Holding Ltd (NYSE:BABA) quickly transforms into an unrivaled business through multiple partnerships. The partnership announcement comes just a few days after Alibaba’s CEO, Jack Ma visited the U.S. to lay the groundwork for partnerships with businesses in North America.