February 22, 2022Uncategorized
Automation is a trending technology with particular benefits for wholesale suppliers and other critical links in the supply chain.
Wholesale suppliers in Australia can benefit from the automation features of a digital trade credit management platform.
Learn how to set up branded business-to-business trade portals in minutes with built-in credit risk assessment and lending resources and modules for billing and payment on the back end.
Here are three ways in which automation can handle most of the hard work and mitigate the risk that is involved in extending trade credit.
1. Manage Wholesale Suppliers in Australia Accounts
A single platform can help suppliers manage customer accounts and inventory.
PencilPay offers white-labelled services that wholesalers can brand and integrate into websites for quick and easy sign-ups for new customers and onboarding of existing customers.
This B2B trade portal also integrates with the leading accounting, credit and inventory management platforms.
Wholesale suppliers can save hours of labour by automating a wide range of billing and data entry tasks. This billing and payment processing platform also eliminate many sources of friction and exposure to the risks involved in trade credit transactions by collecting payment information in advance.
Minimal manual input, such as one-click reconciliation, is all that is needed to maintain complete and current billing records for trade credit accounts.
2. Keep Track of Credit and Payment Data
Wholesale suppliers in Australia that still store billing information on paper or in insecure digital formats can improve security and ease of use by automating billing and payment processes.
This trade credit platform also enables customers to easily register for trade credit accounts easily and get fast approval.
When a customer applies on an integrated trade credit portal, this automatically triggers account creation processes for credit approval, payment information, ordering and stock management.
Stock can be cleared for delivery or shipping as soon as the order status is paid. A platform that automates many aspects of the application, approval, lending and payment process can benefit wholesale suppliers.
3. Streamline Wholesale Supplier Workflows
A guided approach to automation enables the staff of wholesale suppliers to focus on important work while benefitting from access to accurate and current account and inventory data.
It is easier to operate a wholesale supply enterprise with a system that streamlines a wide range of back-office tasks such as customer communication, data entry and reconciling payments.
Some features of Pencil Pay go beyond workflow optimisation to reduce risks inherent in trade credit lending. By de-risking credit decisions and maintaining secure billing information to simplify payment, collections and reconciliation, this platform addresses all of the main obstacles to successful supplier relationships.
Automation Solutions for Wholesale Suppliers in Australia
Automation can have both back-office and customer-facing benefits, including fewer data entry errors for wholesale suppliers in Australia to expedited credit approval and order fulfilment for customers.
Pencil Pay extends the advantages of automation to every stakeholder involved in each B2B trade credit transaction. Find out more about this white-label trade credit management platform and try a 30-day free trial.