TreviPay has made a notable update to its order-to-cash (O2C) services by incorporating automated buyer onboarding. This addition is geared towards enhancing the experience for business buyers by allowing them to apply for trade credit seamlessly. With a dynamic self-service application integrated into its Risk Management Platform, TreviPay aims to streamline the process for its clientele. This move is intended to reduce the complexity and manual workload traditionally associated with onboarding, thereby enabling businesses to transact more efficiently.
Previously, TreviPay has been engaged in enhancing its service offerings to better meet the needs of its users. In March, TreviPay introduced a self-financing option aimed at granting sellers greater control over their trade credit portfolios. September saw improvements to dealer management systems, emphasizing turnkey onboarding and better billing solutions. This pattern of consistent updates showcases TreviPay’s commitment to evolving its platform to better serve B2B sellers and their buyers.
What are the key features of this integration?
The automation technology embedded in TreviPay’s latest offering aims to expedite credit decision-making and make the process nearly instantaneous. This enhancement is designed to minimize manual intervention, reduce the likelihood of cart abandonment during online purchases, and address the needs of buyers dealing with urgent orders. The system’s ability to localize applications for different regions—including the United States, Australia, Canada, and the United Kingdom—ensures compliance with region-specific business language and regulations.
How does this impact businesses of different sizes?
TreviPay’s automated onboarding feature is tailored to accommodate both enterprises and small to medium-sized businesses (SMBs). By utilizing company revenue data provided by buyers, the system delivers a customized form version that aligns with the specific operational needs of the business. This customization facilitates a smooth transition into trade credit programs, which is a critical step for improving the B2B payment experience and nurturing long-term buyer relationships.
Dan Zimmerman, TreviPay’s Chief Product and Technology Officer, highlighted the strategic importance of these updates:
“Offering frictionless buyer experiences that bolster loyalty is a major component to optimizing the order-to-cash process for B2B sellers.”
This statement underscores TreviPay’s commitment to refining their processes to benefit both sellers and buyers.
The relevance of seamless onboarding in trade credit programs was also emphasized during the TreviPay Crossroads conference. A smooth onboarding experience is seen as the foundation for building a robust B2B payment infrastructure that benefits both merchants and their clientele. By improving this element of the O2C process, TreviPay is aiming to foster stronger, more enduring business relationships.
TreviPay’s continued enhancements reflect a strategic response to the evolving landscape of B2B transactions. As businesses increasingly seek efficiency and reliability in their financial operations, solutions that streamline credit application processes and reduce manual input become essential. This development not only promises improved transactional agility but also indicates TreviPay’s ongoing efforts to refine its offerings in response to market demands.
