TreviPay added automated buyer onboarding to its order-to-cash (O2C) offering.
With the new feature, business buyers using TreviPay’s Risk Management Platform can apply for trade credit through a dynamic self-serve application, the company said in a Wednesday (Nov. 20) press release.
“Offering frictionless buyer experiences that bolster loyalty is a major component to optimizing the order-to-cash process for B2B sellers,” Dan Zimmerman, chief product and technology officer at TreviPay, said in the release. “With the latest automation updates, TreviPay clients can reduce manual efforts to ensure net terms programs are activated seamlessly, and buyers can begin transacting as quickly as possible.”
The company’s automation technology reduces manual reviews, speeds up credit decisioning to near real time, reduces online cart abandonment and helps buyers with time-sensitive orders, according to the release.
The application is localized for key geographies — including the United States, Australia, Canada and the United Kingdom — to address country-specific business terminology, language and regulatory requirements, the release said.
The automated onboarding also delivers a form version tailored to an enterprise or a small- to medium-sized business (SMB), based on company revenue figures input by the buyer, per the release.
“As highlighted during the inaugural TreviPay Crossroads conference in October, merchants who optimize the O2C process improve the B2B payments experience and build long-term buyer loyalty,” the release said. “Seamless onboarding in a seller’s trade credit program is the first step.”
This is the latest of several additions to TreviPay’s offerings.
In September, the company introduced enhancements for dealer management systems for commercial equipment dealers servicing fleets. These enhancements include turnkey onboarding for net terms or trade credit and joining the systems’ existing features like consolidated billing and payments.
In March, TreviPay added a new self-financing option and enhanced payment application features to its B2B payments and invoicing network, saying the features are designed to give sellers more control over their trade credit portfolio while using the company’s platform.
“TreviPay’s flexible net terms programs allow our clients to leverage our technology and automated decisioning engine for managing [accounts receivable] while configuring a funding option that works for them,” Zimmerman said at the time in a press release.
For all PYMNTS B2B coverage, subscribe to the daily B2B Newsletter.
