Every business wants to grow. Since more and more business is being done online, all B2B service providers want to help as many customers as they can. These suppliers want assurance that they will simultaneously get payments on time.
In a recent interview, Brandon Spear, CEO of TreviPay, described how platforms and directories created using data from such platforms aid in the development of B2B ecosystems and boost corporate trust.
Different sellers will have different expectations depending on their size, level of globalization, and size of their consumer base.
“What we’ve found is that there are significant differences between the needs of an enterprise seller that wants to engage with customers in 10 or 15 different countries and wants to satisfy all of the invoicing requirements in those countries,” he told Webster, compared to someone who only conducts business in one country.
Smaller firms especially need to obtain working capital and loans to procure the goods and hire the personnel necessary to transform strategy into top-line growth. By using automated payments and invoicing to settle trade credit, TreviPay has made a name for itself.
The business asserted in July that a larger range of company requirements are now taken into consideration by its TreviPay Payments and Invoicing Networks: Using the Private Network, enterprise sellers may build closed, branded trade credit networks with invoice-based buying across all channels. The mechanics of real-time order to cash automation are available to larger enterprises.
The TreviPay Network’s target market is midmarket companies who want trade credit and invoicing but do not require a branded solution. With top lines of up to $5 million, banks will be able to offer flexible payment periods to small- to medium-sized businesses (SMBs). This is made possible by the Small Business Supplier Network, which is not now available but will be in the near future.