It’s no secret the COVID-19 pandemic has been accompanied by an evil twin: profound economic slowdowns and disruptions in many industry sectors.
If you’re running a business, you may be facing a working capital squeeze. Customers may be asking to extend payment terms or even default on their obligations; suppliers and employees are anxious to be paid.
On the broader landscape, impacts have been uneven. The hospitality industry is staggering from the revenue impacts of reduced travel and entertainment and dining spending. Yet demand is soaring in select industry verticals such as air filtration, home goods, backyard recreational products, and shipping. Many companies see an opportunity to pivot to servicing and supplying the growth sectors. But that takes capital.
At Inxeption, we are the pioneers of I-commerce, direct selling online for B2B companies. We are an integrated, cloud-based platform that already is helping hundreds of customers put digital transformation to work streamlining their operations during this difficult period. I-commerce also helps companies seize the opportunity to create new, flexible online sales channels tuned to the moment. It’s a platform built for the array of daunting challenges all businesses face right now, including easy, efficient access to financial services such as insurance.
I’m pleased to say we’re expanding our service portfolio to further support and advocate for our customers by offering even more financial products built into our platform. Already, we let our merchants extend payment terms to customers right in their digital shopping cart. We can ease our merchants’ cash flow crunch with a click when they utilize our payments platform, reducing DSO (days sales outstanding). We have both banking and non-banking partners who can help with trade and supply chain financing solutions. Now, our customers can even take advantage of our new merchant cash advance program.
In future articles, I’ll address the current strategic and operational issues business owners with working capital needs should think about, as well as the fintech solutions we’re creating at Inxeption that help our customers Do Business Better.
Here's to your success.