B2B suppliers can now offer a risk-free line of credit to purchase through Magento’s interface
(Minneapolis, MN October 11, 2017) – Apruve, the leading B2B credit network for suppliers and their customers, today announced it has joined Magento’s Marketplace. Apruve’s integration with Magento will allow suppliers to extend credit terms to business buyer’s in real time through their online store and get paid for all orders within 24 hours.
Extending credit typically requires long application procedures, outdated technologies, paper processes and other inefficiencies that go against the conveniences that eCommerce delivers. As the only fully automated B2B credit management platform for Magento, Apruve helps B2B suppliers drive more online sales by making it easier than ever for their customers to purchase using payment terms.
The addition of Apruve’s functionality to the Magento platform creates a new B2B sales channel for suppliers, while also increasing accounts receivable efficiency, eliminating lending risk, reducing A/R costs and removing inconsistent cash flow. Those businesses that extend credit through an online store have reported 3.3 times the number of line items per purchase and 2.2 times the order frequency.
“The vast majority of B2B transactions are facilitated through extending terms, such as Net 30,” said Michael Noble, CEO at Apruve “For eCommerce, this is not the norm since the credit management process remains offline. This means it’s more difficult to have your business buyers shop online without a seamless way for them to check out on terms. Apruve makes this easy to do for our Magento clients and eliminates the lending risk by financing all new orders within 24 hrs.”
Apruve is a B2B credit network that connects business buyers, their suppliers, and third-party banks to drive B2B sales through easy, risk-free lines of credit. The platform integrates directly into online stores or ERP’s to manage credit programs for suppliers with and without eCommerce. To learn more about how Apruve can grow your business, visit www.Apruve.com.