How Apruve's Credit Network works Businesses have commonly extended credit to their customers as a great sales tool to increase repeat purchases and average order volume. Sadly, extending credit has become an accounting, cash flow and customer management nightmare. It leads to not getting cash at the time of sale, continuously reminding your customers to pay and then risking not getting paid at all. Apruve created the credit network as a solution to give companies the positives of extending credit and then eliminating the negatives. Here is how it works! When a buyer makes a purchase they pay through their Apruve account. Once the purchased product(s) have shipped, the seller gets paid within 24 hours from third party banks. The buyer will be sent invoices, and payment reminders from Apruve and will be guided to their online portal. The Apruve online portal allows buyer to manage all their purchases as well as make payments. The credit network eliminates the slow cash flow, collections and the financial risk of extending credit. Now extending credit is as easy and risk free as accepting a credit card.
Why extend terms on OroCommerce with Apruve? Typically when businesses launch an eCommerce site they only accept credit cards. This is common practice for consumer online stores, but it is not realistic for business to business websites. Over 40% of business purchases are done through a line of credit. Why should your online experience be any different? By offering an automated line of credit your customers open up a tab on your eCommerce platform. When customers open up a tab, they tend to buy more and buy more often.
The Customer Experience Apruve has made the customer experience of paying on credit as frictionless as possible for you customers. A customer fills their cart as usual but when they reach the checkout, the customer simply selects the radio button to pay with Apruve. This will prompt them to login to their Apruve account or they can create an Apruve account within 60 seconds. Once the purchase is shipped, Apruve will send an invoice to the cutomer that will clearly define their terms and payment dates. They will receive reminders throughout the time a payment is owed and prompted to login to their online portal. When the customer logs into their online portal, they can manage all their payments as well as make electronic payments through a variety of payment methods.
Do you take offline orders? Apruve can help you take orders from the phone, email and fax through our offline ordering feature. This can be done by taking in the customer data and manually pushing a sale through Oro. Or by connecting Apruve to your ERP, Accounting, or order management software. All offline buyers will receive an email after purchase to confirm the order to minimize the chance of a fraudulent order.
Have you not implemented yet? Now is the perfect time. Millennials are demanding online ordering for their personal life and now their business life. Business to Business eCommerce is growing twice as fast as the consumer market because of this trend. If a business does not jump to online sales now, they could risk being passed up by their competitors. Apruve is happy to help in your online implementation by supporting you with our connections specializing in eCommerce and marketing as well as our insight into OroCommerce.
How to install? Installation of Apruve is easy. As an approved partner of OroCommerce we can easily plug into their open commerce platform to offer your company automated credit. Simply contact us through this page to start implementation. Our implementation involves offering development help for the install as well as getting you through a KYC (know your customer) process to get your business backed by third party banks. Once approved and ready to launch, sellers will be provided an Account manager to help them explain the service to their customers, help with customer support and reply quickly to any other information you require.
The Oro open source ecommerce platform is built specifically for selling online in the B2B marketplace. The flexibility to service any business workflow is top notch; from a self-service model where almost no interaction is needed to a hands-on model that allows the buyer and seller to continue their working relationship.