The strategic partnership provides manufacturers with a unified approach to payments
MSTS, a global B2B payment and credit solutions provider, today announced a partnership with GenAlpha, the provider of Equip, a leading manufacturing eCommerce solution, to help advance the eCommerce strategies of GenAlpha’s customers through implementation of more seamless B2B payment processes. At a time when companies in the manufacturing space are being forced to adapt more swiftly to eCommerce channels due to the impact of the COVID-19 pandemic, the ability for businesses to build loyalty through frictionless online purchasing is more important than ever.
Through the partnership, Equip users will now have the opportunity to streamline transactions, provide instant onboarding and convenient payment of invoices through MSTS’ Credit as a Service solution. In addition to more strategic payment solutions, GenAlpha customers who use CaaS will also have access to a customer portal that provides visibility to their credit lines and a complete log of all invoices.
By stepping into the digital world, OEMs, distributors, and dealers can accelerate the payments process and take full advantage of the benefits MSTS’ and GenAlpha’s technologies offer — boosting product sales, increasing customer retention, reducing overhead costs, increasing profitability, expanding customer management offerings, and reducing order error. In doing so, GenAlpha is able to support businesses with meeting buyer expectations of personalization, speed, and convenience.
“The adoption of eCommerce in manufacturing has traditionally been slower than other industries, but given the sizable recent increase in online buying in light of the global pandemic, manufacturers are rapidly pivoting their strategies to meet buyer expectations and stay competitive,” said Brandon Spear, President at MSTS. “Those that take advantage of Credit as a Service through the GenAlpha solution will increasingly meet their own customers’ needs and inevitably sharpen their competitive edge.”
The partnership was a natural fit due to both MSTS and GenAlpha’s expertise and long history in the manufacturing space. Together, they are strengthening their solution-oriented approach to solving customer pain points amid the pandemic and beyond.
“The synergy between MSTS and GenAlpha was clear from the start,” said Kris Harrington, President and COO of GenAlpha. “MSTS’ customer-centric values and deep knowledge of the manufacturing industry aligns with our efforts to provide manufacturers with an excellent customer experience. Together, we can provide customers with another solution to reduce challenges brought on by the payments process.”
MSTS is a financial technology company, working globally with B2B companies across transportation, manufacturing, retail and eCommerce. MSTS’ Credit as a Service solution accelerates business commerce by streamlining payments and A/R processes. On behalf of its clients, MSTS processes over $5 billion in transactions a year. MSTS, a wholly-owned subsidiary of World Fuel Services Corporation, has 40 years of experience underwriting businesses for credit and facilitates transactions for its customers in over 190 countries and territories.
GenAlpha Technologies was originally founded to simplify the parts ordering process for large complex manufacturing organizations. From that need came Equip, a fully integrated parts and equipment eCommerce, eCatalog, and customer portal solution specifically for manufacturers looking to digitize their sales efforts. Today 30+ manufacturing brands utilize Equip to manage their aftermarket equipment business online. Visit the GenAlpha website at https://genalpha.com/ for more details on Equip and the company’s offerings.