Unilog – a leader in B2B e-commerce software and enriched product catalogs – has added automated account management and payment capabilities to its CIMM2 platform. This new CIMM2 feature is being offered in partnership with Apruve – a payment and communication platform that connects B2B buyers and sellers.
By integrating Apruve into CIMM2, B2B businesses can easily manage authorized buyers, credit applications, open invoices, purchase orders, purchase requisitions and payments – all in one place, online. Meanwhile, B2B buyers get a one-click, no-pay checkout experience. This results in fewer tedious administrative procedures for merchants and a better purchasing experience for their customers.
Another key benefit is that Apruve handles all of the financing and credit approvals required for large online B2B purchases, removing the burden and risk to businesses associated with credit approvals, collections and cash flow management.
“Handling B2B e-commerce payments is a manual and complex process, requiring credit approvals and financing, invoicing, account set up, etc. – with many of these functions still being done offline,” explains Suchit Bachalli, president of Unilog. “This creates a large burden both for the online B2B buyer and seller, resulting in a lengthy and complicated sales process. By integrating Apruve’s platform into CIMM2, we’re providing our customers with the ability to automate this essential function, so they can focus on growing their business, rather than invoicing and accounts receivables.”
KEY FEATURES & BENEFITS:
• Corporate Account Management: Gives business shoppers a one-click, no pay checkout. Multiple buyers can be added to a single corporate account and all orders in a month are consolidated for one payment.
• Purchase Order Automation: Accepts POs from checkout, adds customized payment terms to any order, and automates all invoicing and payment reminders.
• Purchasing Approval: Allows a business shopper to have their supervisor, someone in accounts payable, or even a client, review and pay for their online order.
Apruve has partnered with A+ rated lender FNB Bank to provide B2B merchants with a turnkey receivables financing option in order to offer customers payment terms without the risk. Business shoppers can be automatically approved for up to a $50,000 credit limit and merchants are paid within 24 hours of any open invoice being generated.