Sometimes you get a reminder of how exciting our company is, about how we do what it takes to ensure clients get exactly the help and support they need.
I got such a reminder this week when reading about how a Nordic healthcare start-up has chosen AfterPay to allow their patients to pay the way they want. AfterPay proved the ideal payment solution for MediCheck, helping them enhance their business, brand and finances in a way that was structured to meet their specific needs.
That case is a great example of how we work as a true business partner, not just a solution provider. We work closely with every client, learn about their needs, identify the best way to support their business, and then ensure that everything works the way it is supposed to.
It was exactly this philosophy that guided us when we created a tailormade payment-at-terms solution for a large player active in B2B e-commerce. It was looking for a way to offer unique and innovative features to its B2B partners, while safeguarding and strengthening its own finances.
This agreement was built on an open-invoice solution, so that sellers using our client’s platform could offer B2B customers a more convenient way to pay.
As with all open invoice systems, it starts with credit assessment. We assess each seller first, confirming their identity and setting a credit limit. A similar assessment is carried out for all business customers.
Customers can then purchase from the sellers, through the marketplace, and pay on invoice with payment terms of 30 days. The beauty of our solution is that the seller is paid almost immediately, providing an instant boost to their cash flow. That makes the marketplace a more attractive place for sellers to sell, and an even better place for customers to buy.
As well as credit assessments, financing and invoicing, we also assist if an invoice is not paid on time and goes to collection.
One aspect of this that I really appreciated was the way we could pull in expertise and resources from across the entire Arvato Financial Solutions organisation. We had experts from Risk Management, Business Process Outsourcing, Payments, Collection and my own B2B Finance division. Our understanding of the German market, which was chosen for the initial deployment, included insights into payment behaviour, legislative and regulatory requirements, credit tools and risks. There were more than 40 of us, from numerous Arvato divisions, all working closely with the client to tailor exactly the right solution.
The feeling when it all came together was outstanding. But not surprising. Because this is what we do, and how we do it. We partner with every client – from healthcare start-ups to multinationals – so we get to know their business, and ensure they get exactly the solution they need.
– Director, Member of the Executive Board B2B Finance