3 Ways Your Enterprise Commerce Platform Can Make You More Money
Too many enterprise businesses have been held back by their commerce technology. Increasing tech debt, disparate sales channels, costly innovation to improve customer experiences, and worst of all: a high total cost of ownership (TCO).
Too many enterprise businesses have been held back by their commerce technology. Increasing tech debt, disparate sales channels, costly innovation to improve customer experiences, and worst of all: a high total cost of ownership (TCO). It’s time to put an end to that era.
Modern enterprises require a cost-effective, high-converting platform to outpace competitors. Shopify stands out as a leader in enterprise commerce platforms, recognized by Gartner Magic Quadrant and IDC’s MarketScape. Here are three reasons why enterprises trust Shopify to reduce costs and drive long-term growth:
1.) More Revenue, and Lower Total Cost
Everyone says they have the best total cost of ownership. But, new data shows that Shopify has the best total cost of ownership in commerce, with up to 36% better TCO than the competition, according to research commissioned by Shopify from a leading independent consulting firm to study TCO across major platforms in North America. Click here to calculate your TCO.
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Shopify offers lower licensing and maintenance costs on a platform that makes sense to everyone in the organization, from the C-suite to the technical teams. With reduced platform costs and less need for development work, your enterprise can redirect resources towards serving customers.
2.) Hidden Costs of Sticking with Your Current Platform
Too many enterprises stick with a suboptimal commerce platform because of the investment it took to adopt the technology in the first place – even when doing so continues to incur needless losses. To avoid unnecessary losses, ensure your platform is optimized for conversions.
Shopify offers the best-converting checkout in the world. Shopify’s average 18% higher checkout rate translates to a roughly 1.8% TCO offset when expressed as percent of TCO (*Assumes 10% gross margin on goods sold. Average checkout conversion uplift includes a subset of 4 competitors from 2023 checkout conversion study: Salesforce, BigCommerce, WooCommerce, Adobe Commerce). It’s essentially an additional cost of not being on Shopify, because it’s value you’d otherwise be capturing if you were on Shopify.
3.) Enterprise Agility – Ship, Launch, and Innovate Faster
According to Shopify’s January 2024 report with IDC, around 45% of businesses we surveyed use a blended web architecture with a composable front-end and full-stack backend, offering operational efficiency, cost-effectiveness, faster time to market, and improved customer experience.
A platform designed for scalability and flexibility gives enterprises the tools they need to innovate on a local or global scale. Enterprises can launch a new storefront up to 41% faster on Shopify than the competitors evaluated in this study. Shopify’s enterprise offering provides the most critical commerce solutions for ultimate go-to-market agility – with a focus on performance, speed, customization, and conversion.
“We’re proud to offer enterprises endless ways to build seamlessly, whether that’s full platform, headless, or modular,” said Bobby Morrison, Chief Revenue Officer at Shopify. “Our goal is to bring Shopify’s vision of commerce to enterprises all over the world, which is why we’ve recast the mold with our enterprise commerce offering.”
Learn more about how Shopify can help you become more operationally efficient and maximize your ROI.
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