SANTA CLARA, Calif., Jan. 17, 2018 /PRNewswire/ -- Based on its recent analysis of the business-to-business (B2B) eCommerce platform market, Frost & Sullivan recognized Oro, Inc., with its 2017 New Product Innovation Award.
Each year, Frost & Sullivan presents this award to a company that has developed an innovative product using leading-edge technologies to solve real business challenges. The award recognizes the value-added features and benefits of the product and the increased return on investment (ROI) it provides to customers. This year's award to Oro highlights its strong B2B eCommerce solution, OroCommerce.
OroCommerce, which officially launched in January 2017, was specifically built for B2B eCommerce. It was created by Oro, Inc., an open source eCommerce technology company started by the former founders of Magento. According to Frost & Sullivan, the booming B2B eCommerce market will reach $6.7 trillion by 2020. OroCommerce, which also offers a fully integrated customer relationship management (CRM) system, aims to provide the most complete set of out-of-the-box B2B eCommerce features tailored to fit modern business needs.
"A simplified deployment process is important to potential customers," said Melody Siefken of the North America Digital Media team at Frost & Sullivan. "Our analysis found that a complicated process is a key restraint for organizations in adopting B2B platforms. In a nutshell, the platform must be scalable, configurable, and interoperable with different systems. OroCommerce provides the market with just that while further extending its reach through technology partnerships."
Users reported that the OroCommerce platform provided rapid implementation and ease-of-use, leading to lower total cost of ownership and accelerated time to market. In addition, OroCommerce integrates easily with other third-party solutions. Between 60 and 80 percent of the OroCommerce features and capabilities come ready-to-use out of the box, with the rest custom-built by extending existing features according to each customer's needs. Its back-end and front-end systems feature user-friendly interfaces and drag-and-drop capabilities for easy setup.
Frost & Sullivan Best Practices Awards recognize companies in a variety of regional and global markets for demonstrating outstanding achievement and superior performance in areas such as leadership, technological innovation, customer service, and strategic product development. Industry analysts compare market participants and measure performance through in-depth interviews, analysis, and extensive secondary research to identify industry best practices.
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Oro, Inc., offers a suite of open source commerce applications: OroPlatform, OroCRM and, OroCommerce. OroCRM is a solution for multichannel companies, and OroCommerce, the only eCommerce platform purpose-built for B2B companies, was named by Frost and Sullivan as the No.1 B2B eCommerce product of 2017. Oro's founders previously founded Magento and have deep experience in the eCommerce industry. They include Yoav Kutner, chief executive officer; Jary Carter, chief revenue officer; Dima Soroka, chief technology officer; and Roy Rubin, director of Oro's advisory board.
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SOURCE Frost & Sullivan