How should firms prioritize their transaction digitalization efforts? Insights from research on buyer-supplier dyads

When digitalizing business-to-business transactions, firms need to decide what to digitalize (i.e., which stages of the transactions) as well as how (i.e., using which technologies). Digitalization of transactions between established partners has received a lot of attention, particularly with the use of ERP software and EDI systems. However, there is relatively little research on the digitalization of transactions in a market setting, although they occur frequently. Based on an empirical analysis of transactions involving buyers and suppliers from varying industries, this study provides guidance to firms to better realize the benefits of their transaction digitalization efforts.