TreviPay, the B2B payments and invoicing network, announces a new self-financing option along with enhanced payment application features to give sellers more control over their trade credit portfolio while leveraging TreviPay’s configurable technology platform.
The option to use self-financing (an enterprise uses their capital to fund and support its net terms program) in combination “with TreviPay’s order-to-cash capabilities and partnerships gives sellers a wide range of choice and more control over how they fund their business growth.”
Other financing options available are using capital “from TreviPay and working with a third-party bank partner through the Financial Partner Gateway, TreviPay’s suite of APIs for financial institutions.”
In all cases, options are managed “through a single platform, providing consistency and visibility to the process—resulting in fewer barriers in the purchasing and financing process as sellers look to gain greater share of wallet from their best customers.”
TreviPay research shows that “general inefficiencies, lack of support and lengthy onboarding are major pain points for B2B buyers, which may lead them to change suppliers or opt out of purchasing.”
Regardless of funding option, implementing a comprehensive, digitized A/R process through TreviPay’s platform “automates mundane day-to-day tasks, eliminates manual errors and their associated costs, as well as speeds up customer onboarding, which creates a great first impression and is the first step to building buyer loyalty.”
Dan Zimmerman, Chief Technology Officer of TreviPay, said:
“B2B buying relationships are complex and require unique commerce services to best meet their needs. TreviPay’s flexible net terms programs allow our clients to leverage our technology and automated decisioning engine for managing A/R, while configuring a funding option that works for them. Each program helps streamline business payment processes, increase customer purchasing power and drive growth for our clients.”
Also announced, additional TreviPay technology platform improvements:
- Payment History Reporting – reconcile payment application and review related payment event history in one easy-to-understand report
- Payment Application Optimization – optimized algorithms extract and interpret payment application detail direct from bank processing files
- Client Portal Upgrade – sellers can assign an account manager to a specific customer within the client portal to directly connect sales to the right contact by account without additional steps.
At TreviPay, they claim to “believe loyalty begins at the payment.”
By understanding the diverse and unique requirements of B2B sellers, TreviPay’s global B2B payments and invoicing network “enables enterprises to provide payments choice and convenience, open new markets and automate accounts receivables.”
With more than four decades of experience, TreviPay serves those “looking to build loyalty while driving efficiency and embracing new digital channels, especially in industries with large distribution networks such as manufacturing, retail, and transportation.”