Enterprise companies have distinct and often complex structures and processes designed to help their business run smoothly. An important process to focus on is how to meet the needs of individuals within targeted buying organizations. This attention is key for these enterprises as they look to reach and retain more enterprise buyers to realize desired business growth.
Proactively anticipating the complex needs of enterprise buyers related to payments and invoicing experience gives enterprises a boost to significantly lower purchase friction. Taking steps to make purchasing from your company easier is the quickest way to get buying organizations to gravitate to doing business with you. Giving your customers the buying experience they want starts by aligning order-to-cash processes (O2C) with your customer’s procure-to-pay (P2P) processes.
While P2P requirements may differ among enterprise organizations (one size does not fit all), the following components offered by TreviPay can help not only maintain but grow business. These are important tools to meet the complex payment and invoicing needs of your largest customers.
Buyer Integrations and eInvoicing
TreviPay enables integrations with buyer systems that create efficiencies and encourage lasting loyalty. Enterprises looking to automate invoicing and reduce the workload of A/P teams work with TreviPay to integrate with buyers.
Multiple invoicing formats are supported, such as:
- EDI
- XML, cXML
- Standard ERP
- Customized In-house
- RPA into customer portals
In the first year after integration with TreviPay, enterprise organizations experienced a 179% uplift in purchase volume.
Parent/Child Hierarchies
Enterprise buyers tend to have complex structures and processes that require a system of checks and balances across the organization. The ability to support large, complex buyer’s organizational structures including budget management.
TreviPay’s platform includes parent/child hierarchies that can be built into the self-service buyer portal. Key features of the portal include:
- Multiple levels to organize authorized users
- Easy-to-manage profiles that allow for individual credit limits within a buyer organization
- Buyers are identified on every record on the invoice making it easy to reconcile and identify purchases
Large Credit Lines Combined with Purchase Controls
As enterprise customers have high purchasing volume and frequency, buyers require large credit limits to support these purchasing needs. Purchase controls are an important part of business operations, especially in large organizations with complex structures. At TreviPay, our dedicated, interest-free line of business credit reduces risks and costs associated with cash, check or credit-card based purchasing. These credit lines come with benefits such as:
- Credit lines from $5K – $20M
- Flexible payment terms – 30, 60 or 90 days
- Dynamic credit lines that can be increased or decreased in response to customer purchase history and purchase needs
- Purchase controls such as PO number required
Customer Segmentation
Enterprise merchants tend to have a large and varied customer base that can require a customized approach to support and collections, especially for top-tier customers. Configurable tiers allow merchants to identify and define white-glove treatment for highest value customers.
- Optimize account management preauthorization options
- Administer overdue invoice procedures
- Manage failed payment processes
- Conduct business in multiple languages and currencies
Self-Service Buyer Portal
For enterprises not using integrations have access to a self-service portal for transaction and payment data access. This portal allows merchants to:
- View, download, email and export invoices in multiple formats with SKU-level information
- Pay invoices
- Review purchasing history, credit limits, available credit and outstanding balances
- Lodge a dispute
- Add/edit user details including assigning hierarchies and assigning individual credit limits
Long-Lasting Value for Enduring Loyalty
Meeting the complex needs of enterprise buyers during the purchasing process sets enterprise organizations up for greater success and begins to develop deeply loyal relationships that keeps these buyers coming back time and time again. If you are ready to learn more about how you can positively impact the success of your organization, let us help you get started.
