TreviPay, a global B2B payments and invoicing network, is rolling out significant upgrades to its dealer management systems aimed at streamlining payment processes for commercial equipment dealers servicing fleets.
These upgrades aim to streamline transaction capture and reduce the need for manual processes by using advanced API technology, designed to integrate with dealer platforms and capture real-time transaction details.
The enhancements aim to improve accuracy and speed for fleet-related transactions. According to TreviPay, its upgraded system enables dealers to process payments more efficiently, while fleet drivers can experience fewer delays. The technology also aims to support dealers by integrating seamlessly into their existing systems.
“From our long history working with commercial equipment manufacturers, dealerships and fleets, we recognised reduced friction and increased efficiency are essential in today’s dynamic and fast-paced business landscape,” said Dan Zimmerman, chief product and technology officer of TreviPay.
“TreviPay’s proprietary B2B technology platform builds deep-rooted business relationships, leveraging payment automation to eliminate manual entry and reduce administrative costs, from a dealer’s first interaction with a new client.”
Demand for flexible payment options
A recent TreviPay study, surveying 300 global business buyers, revealed that payment flexibility is becoming increasingly important. The survey also revealed that 78 per cent of respondents view invoicing options as crucial, while 51 per cent would consider switching merchants if they offered more flexible payment terms, such as net terms.
The enhanced dealer management systems aim to address these needs by incorporating features like simplified onboarding for trade credit and net terms.
TreviPay’s solutions have been adopted by a major truck manufacturer, which sought to scale a $50million programme across its dealer network. By using TreviPay’s payment and invoicing tools, the company aimed to reduce errors and streamline operations. Since integrating the system, the manufacturer has reported a 42x increase in scalability as well as a 90 per cent improvement in invoice accuracy across $2billion in programme volume within the US and Canada.
For those interested in learning more about order-to-cash efficiency strategies, TreviPay is also hosting the TreviPay Crossroads event from 2 to 4 October 2024, in Kansas City. The event will feature discussions on best practices and innovations in payment processes, gathering industry leaders from various sectors.
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