Shopify is one of the leading eCommerce platforms with over a million sellers using their services to sell their products online. While Shopify is best known for supporting B2C businesses, it also offers a number of features to support B2B buyers.

One of these features is the ability to manage spending limits within the platform. Before we dive into how Shopify helps B2B buyers manage spend limits, let’s first understand the concept of spend limits.

A spending limit is a set maximum amount that a company or individual can spend on a specific product or service. For B2B buyers, managing spend limits can be a key aspect of their business because they often deal with large orders and multiple suppliers.

First, Shopify allows B2B buyers to set up multiple employee accounts with different permissions. This means that companies can assign specific employees the responsibility for managing spending limits, so that only authorized people can make purchases above the set limit. This feature not only helps you manage spending limits, but also adds a layer of permission-based control to your purchasing process.

Secondly, Shopify has a feature called “Purchase Orders” that can be enabled for B2B buyers. This feature allows companies to create a pre-approved list of items for their employees to purchase, ensuring they are only purchasing what they need without exceeding their spending limits. This feature also allows shoppers to create orders within set spending limits, making it easier to track and manage purchases.

Additionally, Shopify also offers a credit limit feature for B2B buyers. Thanks to this, companies can assign their customers a credit limit, which determines the maximum amount that can be purchased on credit. This feature streamlines the purchasing process and ensures that B2B buyers do not exceed their spending limits, resulting in better financial management.

Finally, Shopify has an advanced reporting system that allows B2B buyers to track their expenses and monitor their budget. With real-time analytics, companies can easily identify areas where they are overspending and make proactive decisions to stay within spending limits.

In short, Shopify understands the unique needs of B2B buyers and offers several features to help them manage their spending limits. From employee account eligibility to purchase orders and credit limits, Shopify makes it easier for B2B buyers to stay on budget while using the platform. With Shopify, B2B companies can streamline their purchasing processes, better manage their finances, and ultimately achieve their business goals.