TreviPay launches new financing option & payment application features

By Delisha Fernandes

TreviPay added a new self-financing option and enhanced payment application features to its B2B payments and invoicing network.

The new features are designed to give sellers more control over their trade credit portfolio while using TreviPay’s platform.

“B2B buying relationships are complex and require unique commerce services to best meet their needs,” said Dan Zimmerman, Chief Technology Officer of TreviPay. “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.”

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.

Also 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.