New functionality enables businesses to customize purchase policy structures, reducing payment delays and increasing operational efficiency
TreviPay, the most-trusted B2B payments and invoicing network, announced the release of advanced purchase controls to allow businesses to configure and enforce customized B2B purchase policy structures that align with their procurement requirements. The new functionality, now available to TreviPay clients, addresses pain points in the B2B purchasing process by automating controls that reduce payment delays, minimize manual reconciliation work and enhance overall compliance.
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“Creating frictionless B2B commerce experiences is critical for driving long-term buyer loyalty for our clients,” said Dan Zimmerman, Chief Product and Technology Officer at TreviPay. “TreviPay’s advanced purchase controls provide businesses with the flexibility to customize guardrails ahead of the ordering process so they can optimize access to spending and help maintain accurate records.”
As uncovered in a recent study with Murphy Research, invoice customization is a critical part of offering a seamless purchasing experience with 78% of B2B buyers needing to customize or control certain aspects of their purchasing experience. The advanced purchase controls solution includes several configurable options to ensure B2B buyers can pay invoices according to their preferences:
- Purchase Order (PO) Number Requirement: Ensures that no charge can be processed without a valid PO number
- Amount-Based PO Threshold: Automatically enforces PO requirements only for transactions that exceed a buyer-defined threshold
- Unique PO Number Validation: Prevents duplicate PO numbers to maintain accurate records and avoid reconciliation issues
- Custom PO Number Format: Ensures all PO numbers follow the specific format required by the buyer’s systems
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These controls work seamlessly across all purchasing channels, maintaining a unified purchasing experience across all channels online, in-store or through the sales team. By automatically flagging and preventing non-compliant transactions at the point of purchase, businesses avoid the costly back-and-forth communication typically required to resolve purchase order discrepancies.
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“Traditional complexities in the order-to-cash process, such as missing or incorrect purchase order information, can cause delays in merchants getting paid,” added Zimmerman. “By addressing common challenges or slowdowns in the ordering processes, we’re helping our clients minimize the strain on A/R teams and grow their business, without compromising the quality of the buying experience.”
TreviPay has also recently released features such as risk-based pricing to expand credit accessibility, shared buyer codes in the mobile app to temporarily share or extend purchasing ability to an unauthorized user, and enhanced visibility into upcoming disbursements. To stay updated on more product announcements,
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Source – Businesswire
