Amazon Business: Streamlining Purchasing for LPL Financial
LPL Financial is expanding its use of Amazon Business, the company's online business-to-business store, to its financial advisors nationwide for their key business purchasing needs.
LPL Financial is a leading wealth management firm in the US, supporting over 29,000 financial advisors and the wealth management practices of approximately 1,200 financial institutions.
In operation since 2015, Amazon Business has empowered organisations of all sizes through vast selection, competitive pricing and a convenient shopping experience.
Amazon Business drives over US$35bn in annualised gross sales and has more than eight million customers worldwide, including 97 of the Fortune 100, 66 of the FTSE 100 and 38 of the DAX-40 companies.
By harnessing Amazon Business, LPL Financial is now in the position of having a single purchasing solution for its advisor offices across the US. These people are now able to purchase key items to meet business needs – which includes everything from supplies for the office to equipment to keep their buildings clean and even food and drink to keep staff fuelled.
All are on offer with a large range of suppliers, with a delivery network which is quick and reliable.
"This relationship with Amazon Business is a great example of how LPL can bring its scale to support our independent advisor community," says Kimberly Sanders, Head of Business Solutions at LPL Financial.
"It provides a simpler, more cost-effective way to purchase everything from IT equipment to the office essentials needed to enhance their client experience."
The familiar Amazon shopping experience
Amazon Business transforms the comprehensive Amazon marketplace into a powerful procurement solution designed specifically for organisational needs.
The platform provides businesses with access to an extensive catalogue of hundreds of millions of products, exclusive business pricing and dependable delivery options that accommodate varying operational requirements.
The service goes beyond basic purchasing by incorporating enterprise-grade functionality that drives operational efficiency. Multi-user account management enables teams to collaborate seamlessly, whilst customisable approval workflows ensure proper spending oversight.
Tax-exempt purchasing capabilities and consolidated billing streamline financial processes, reducing administrative overhead.
By offering shipment consolidation services, Amazon Business minimises supply chain disruptions and enables more strategic inventory planning, allowing organisations to focus on their core business objectives rather than procurement logistics.
Brenda Spoonemore, Vice President at Amazon Business, adds: "Financial services firms like LPL Financial run on precision and trust - and their procurement operations should too. Amazon Business delivers a streamlined experience that empowers advisor offices to get what they need, when they need it, all through a familiar and scalable product."
Unique value meets global scale
Through its use of innovation, global reach and customer obsession to deliver the best in business procurement, Amazon Business believes it is not just there to adapt consumer solutions for business needs, but to fundamentally reimagine business purchasing for today's digital age.
With a larger company like LPL Financial, this means gaining access to a wide choice of suppliers through a single, streamlined interface which keeps necessary oversight.
This technology provides tools which allow larger organisations to keep control over their visibility of the procurement process – whilst the workforce continues to expand and diversify.
Plus, with the Business Prime membership it gives companies access to fast, free shipping on millions of items, plus analytics and spending controls which optimise the management of decentralised purchasing.
Amazon Business harnesses advanced technology to elevate procurement from a mundane operational function into a competitive differentiator.
The platform's commitment to innovation drives continuous advancement in AI capabilities, ensuring it anticipates and addresses evolving business requirements.
Rather than making marginal enhancements, Amazon Business is redefining procurement methodology through sophisticated technology that delivers unprecedented simplicity, intelligence and efficiency.
The platform deploys the same powerful AI and machine learning infrastructure that drives Amazon's consumer experience, now optimised for complex business purchasing scenarios.
Organisations gain access to advanced, user-friendly AI-driven analytics tools that enhance decision-making whilst generating significant time and cost savings across procurement operations.
Strategic innovations like Guided Buying enable organisations to align purchasing decisions with broader business objectives.
This feature allows companies to establish preferences for products, suppliers and vendors, creating a procurement framework that actively supports strategic initiatives and organisational goals rather than simply fulfilling transactional requirements.
