Minneapolis, MN. – March 5, 2019 – Reibus International, an online B2B marketplace for prime, excess prime and secondary materials used in the industrial markets, today announced their partnership with Apruve, the B2B credit network.
In the B2B industrial marketplace, the majority of B2B transactions are on net terms, a process where buyers pay for their purchases in 30 days from when it’s invoiced. This payment process involves credit approvals, invoicing, payment processing, and collections which is heavily manual and not designed for a streamlined purchasing experience.
As Reibus International continues to grow they remain focused on providing customers with the simplest and fastest way of doing business. By providing an easy to use, online first, credit account application and management tool that is fully integrated into the Reibus platform they continue to enable the customers they serve to become more efficient.
“We believe that the online channel is increasingly becoming a preferred method for buying and selling materials as traditional industries continue to invest to remove friction from their supply chains. Because our customers are accustomed to purchasing with credit, we believe the quick approval process and simple account management offered through Apruve will bring a competitive advantage to those we serve,” says John Armstrong, Reibus International CEO.
Apruve allows ecommerce merchants to seamlessly extend payment terms to business buyers without any back-end or manual processes. By using an online credit application and algorithm, Apruve approves buyers in as fast as three minutes, or up to 48 hours.
“We are excited about our partnership with Reibus International. They are disrupting a very traditional market and we believe the financing component that Apruve offers will reinforce positive growth. By automating A/R and credit applications, Reibus can focus on becoming a market leader rather than tracking down payments, invoicing customers, and manually handling credit applications,” stated Michael Noble, CEO of Apruve.
About Reibus International
Founded in 2018, Reibus International offers a proprietary B2B platform that makes it easier to buy and sell prime, excess prime and secondary materials. Its online solution better matches supply and demand for existing and future demand of materials, while achieving greater reach, price performance and efficiency relative to the fragmented network of physical distribution centers, brokers and dealers that have traditionally served the industrial materials market. Visit reibus.com to learn more.
Apruve is a B2B credit automation platform that manages and finances credit programs for suppliers and their business customers. Allowing merchants to sell on net terms and be paid immediately without financial risk, overhead, or collections. To learn more about how Apruve can grow your business, visit https://www.apruve.com.