TreviPay and Albertsons Companies offer pay by invoice programme for businesses
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Business buyers, including small offices, K-12 schools, local government and community organizations and residential programs, can receive a dedicated line of credit for online grocery purchases with 30-day net terms. The pay by invoice program includes a convenient self-serve portal to assign spending limits to approved purchasers and real-time tracking of invoices, payments and credit lines for streamlined financial management.
Business buyers expect the flexibility of paying with trade credit, or net terms, to better manage working capital and establish trusted relationships with retailers. Payment choice is so important that a Murphy Research study, on behalf of TreviPay, found 72% of business buyers are more loyal to a business that offers their preferred payment methods, and more than half would switch to a different retailer if it offers net terms. For added convenience, the partnership with TreviPay allows corporate shoppers to access their line of credit across Albertsons Companies' banners including Albertsons, Safeway, ACME, Jewel-Osco, Shaw's, Star Market, Vons, Pavilions, Tom Thumb and Randall's.
'Retailers are well-versed in loyalty best practices for consumers, but to reach and retain business buyers, invoicing and payment terms are critical,' said Brandon Spear, CEO of TreviPay. 'Enabling Albertsons Cos.' business customers to pay by invoice allows their corporate buyers to make large, repeat orders using their preferred payment method, while retailers eliminate the complexities of accounts receivables and fuel growth.'
Through the partnership, Albertsons Cos. stores can automate their A/R processes for business purchases with real-time credit decisioning, electronic invoice generation and payment tracking to reduce billing errors and eliminate back-office resources. The leading retailers no longer have to allocate resources to managing collections or worrying about cash flow as TreviPay settles funds right away and owns any buyer credit risk. That time and capital can be reinvested into enhancing customer experiences that require a human touch.
'Albertsons Cos. is committed to enhancing the purchasing experience and providing options for both small and large business customers,' said Anne Coyne, Senior Director of B2B Strategy and Growth at Albertsons Cos. 'TreviPay's invoicing program offers the control to customize purchasing hierarchies and the convenience of paying using credit lines, which we know are important to this buyer segment.'
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