Ecommerce platforms are software solutions that help online merchants manage and automate critical business processes in order to properly position themselves in the eCommerce industry. Modern eCommerce platforms are sophisticated all-in-one solutions that provide the features and capabilities that every online business needs for creating and customizing its online store. For instance, eCommerce platforms offer customizable design templates, search engine optimization tools, email marketing solutions, and robust analytics on online sales.
When it comes to deploying and using an eCommerce platform, enterprises are offered a host of different options. One of these options involves the development of a custom eCommerce platform. Nevertheless, in most cases, companies opt for adopting an existing platform. This adoption can be based on a traditional licensed model, which involves payment of a licensing fee to the vendor. On the other hand, there are also open-source platforms that come with a free license. In this case companies pay for the customization and maintenance of the open-source platform, as well as for professional services like training and consulting. In recent years, many enterprises deploy and use cloud eCommerce platforms, which come with flexible pay-as-a-you models that reduce the Capital Expenditure (CAPEX) of eCommerce deployments.
In this landscape, eCommerce enterprises need to carefully select the right platform to host their online store. In this direction, it is important to evaluate the options that are available in the market, towards choosing the platform that best fits their needs. The selection process should consider a variety of criteria such as:
The above list of ten selection criteria is non-exhaustive. Depending on the eCommerce business strategy of the retailer, features like support for mobile and social interaction, automatic finance and accounting calculations, and versatility in mobile payments based on multiple gateways, might be important. Thus, retailers had better develop a weighted scoring formula that considers the criteria that matter the most to them. This can serve as a basis for ranking different vendors and short-listing the ones to be scrutinized. The decision of selecting an eCommerce platform can be an important one, as it can have a medium- and long-term impact on a company’s revenue. This is the reason why it is worth understanding and factoring various selection criteria towards a selection that will maximize the Return on Investment (ROI) of your eCommerce platform.
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