Manufacturers and wholesalers often supply many small businesses who present a credit risk and as such have to pay in advance. A proforma invoice will be generated after an order has been placed followed with a lead time for the customer to actually make the payment, not to mention the delay for the money to actually be deposited in your bank account.
And this would be the best case scenario. All of this translates into the need for careful cash flow, inventory management and potentially leads to empty shelves, lost sales. and a strain on your back office resources. Your ability to service your customers is additionally reduced for example with last-minute orders that can't be fulfilled.
Smart suppliers are very much aware that small businesses exhibit the same payment behavior as consumers. Payments are not automatically made from an accounting package, but rather one by one with a credit card or through a bank authorization.
Alevate RTP is designed to help you overcome these challenges. The pro forma invoice automatically comes with a payment request which the customer pays immediately straight from his mobile phone, for example, using the preferred local or international payment methods. You have a real-time insight into the payment status and can now proceed with delivery in the knowledge that the money is irrevocably on its way.
These are just some examples of industries for which manufacturers and wholesalers use Alevate RTP. After all, they all have the same challenges to connect money and logistics as efficiently as possible. Orders that can be produced, trucks on the road, or the offloading of goods which can only happen if there is proof of payment. Regardless at what point of contact whether that is at the office, the driver, or your customer.
Preparing pro forma invoices with our real-time online payment options does more than just shorten the payment lead time from days to minutes. It opens the door for you to serve small customers with a credit risk that you might otherwise have had to say no to. This translates into more revenue, faster delivery of your goods, better inventory management, and improved service that all translate into a real competitive advantage over your competitors. Can you start seeing the possibilities?
