Part 3 of our 3-part series about How CaaS Can Help.(Part 1, Part 2)
Reducing costs and improving cash flow is likely music to your ears. But it’s not easy to do when you have several hands dipping into your working capital or have credit card fees unnecessarily cutting into your bottom-line.
You don’t have to be one of the B2B companies spending an average of $2.2 million in credit card processing fees. Whether you’re an SMB or an enterprise, you need to weigh the high credit card transaction costs against the benefits of offering credit card payment options in your eCommerce store. In addition to high fees, credit cards create challenges for buyers. Credit limits make them a problem for large purchases, and statements are difficult for AP to reconcile when it comes time to pay the bill.
Letting customers buy online with Net30 terms would help, but then you have to worry about when you are going to get paid. In 2018, balance sheets showed DSO staggered around 37 days, two days more than the previous year. A global report shows a delay in payment of up to 92 days if you’re working with suppliers in China.
When DSO is high, it drags down your liquidity and the finance team’s efficiency. In order to keep pressure on customers to pay you’d need a collections workforce increasing labor costs. If you only have a few team members able to chase payments, you’re in trouble.
Would you raise your hand if you could extend risk-free lines of business credit to your customers, reduce stress on your team and keep your working capital for your business? We would, too.
That’s why we created Credit as a Service ®(CaaS). Businesses leveraging CaaS to extend white-labeled Net30 terms get paid quickly to improve cash flow and reduce costs by outsourcing billing and collections.
In short, CaaS streamlines back-office processes, transforming the way businesses facilitate and manage purchases made on terms.
Ready to give Credit as a Service a try? Request a demo to see it for yourself.
By continuing to navigate around our website or by clicking "Accept All Cookies", you agree to the storing of first- and third-party cookies on your computer. You can also visit our Privacy Center to learn more and/or to opt-out of most cookies. Cookies help enhance website navigation, analyze website usage, and/or assist in our marketing efforts. Please note that blocking some types of cookies may impact your experience of the website and the services we are able to offer. Lucky Orange may record keystroke information you voluntarily enter on this website. For more information or to opt-out, see the privacy notice. Cookie settingsAccept All Cookies
Privacy & Cookies Policy
Necessary cookies are absolutely essential for the website to function properly. This category only includes cookies that ensures basic functionalities and security features of the website. These cookies do not store any personal information.
Any cookies that may not be particularly necessary for the website to function and is used specifically to collect user personal data via analytics, ads, other embedded contents are termed as non-necessary cookies. It is mandatory to procure user consent prior to running these cookies on your website.