“Being able to quickly identify and contact someone you know who has worked with a supplier previously can save a tremendous amount of trouble, time, and money and is more reliable than an online ranking system.”
(PRWEB) April 7, 2010
Tradesparq (http://www.tradesparq.com) has become the first B2B trade portal to use social networking tools to help buyers and suppliers verify each other online. The international trade portal has adopted the same social features found on sites such as LinkedIn and Facebook to improve online verification and help solve one of the biggest problems with B2B trade.
This approach improves on existing Web 1.0 B2B sites which rely strictly on search results and internal ranking systems. Instead of ranking suppliers, Tradesparq provides verification by allowing foreign buyers and Chinese suppliers to connect. Once connected, they can view and contact each others shared connections for references and referrals.
This means a foreign buyer can use their existing trade network--companies they have worked with before--to verify a potential new supplier. To facilitate the process, Tradesparq uses products and product categories to match potential trade partners then turns mutual contacts into the first line of defense for verifying a supplier’s capability, quality, and reliability.
“The most powerful verification tool a buyer has can often be an existing trade partner,” said Brian Hager, General Manager at Tradesparq.
While the majority of attention has been focused on helping buyers verify suppliers, the same social networking tools also improve the ability of China suppliers to verify potential buyers. Increasingly, companies in China are faced with fraudulent buyers looking for free samples or, worse, promoting fake companies, pushing fake checks, and even forging or faking letter of credit documents.
Although suppliers compete heavily with each other in China, they are often also part of a local network of companies that sell into the same market. By using social networking tools, they are able to leverage local knowledge to help weed out fraudulent buyers.
Tradesparq is the first B2B site to combine business networking tools with traditional online trade advertising. This service returns better search results for buyers and offers a more proactive marketing service to suppliers. Companies post products and services on http://www.tradesparq.com for international and domestic buyers to find and send inquiries. More importantly, suppliers and buyers can connect with each other, view details, check references, and send real-time automatic product and service updates. Tradesparq has tens of thousands of supplier, buyer, and product profiles online.