Growing online sales can be a tough target to hit. With so many strategies out there, how will you know in advance what will work? Here’s one approach with a clear ROI: Automate the process of extending terms and streamline your buyer payment options. This approach eliminates manual processes, allowing you to expand your B2B ecommerce channel without adding staff. You can implement an automated, fully financed credit program built right into your online checkout through Apruve.
3 Reasons to Automate
Ecommerce sales for U.S. distributors are expected to exceed $1 trillion by 2022, making it evident where the market is headed. Organizations aim to expand or start an ecommerce channel for several reasons:
You’re already offering net payment terms. More than 40% of B2B transactions already happen in a net payment terms program, so it’s no stretch to take it digital. By offering corporate accounts online, organizations can increase average order value and purchase frequency — two of the most effective strategies for growing B2B ecommerce. The key is using an intelligent platform to automate the net payment terms program so you’re not adding back-office staff or additional risk.
B2B buyers want it. Twenty percent of B2B buyers view a lack of payment alternatives as a critical issue for purchases. With Apruve, buyers can make purchases on terms or take advantage of long-term financing simply and conveniently at checkout with dedicated credit lines. Automating the process of extending terms and streamlining payment options not only enhances the buyer experience, but also increases transaction volume, buyer adoption and buyer acquisition.
Compete at a higher level. Large firms are 39% more likely than mid-market firms to use dynamic terms. With intelligent credit automation integrated in your ecommerce channel, you level the playing field whether you’re a large or mid-market organization.
Apruve provides automated, financed credit programs that enable organizations to transform ecommerce channels. On average, businesses see an ROI of more than 40% with Apruve compared to managing and financing credit programs on their own. Part of that ROI comes from being able to grow sales through increased transaction volume and order size, without adding additional personnel.
At one Fortune 500 manufacturer, putting an automated, fully financed credit program with Apruve in place modernized its capabilities with global direct sales channels. The company has exceeded its B2B ecommerce objectives in a short amount of time:
- 800% average year over year growth in invoice volume
- 5.6X: factor of increased average order size for those invoiced through Apruve versus a credit card
- 2003% growth in available credit line to buyers over the last two years
Like to learn more about growing your ecommerce without adding back-office staff? Get in touch with our specialists today at email@example.com