INDUSTRY USE CASE
Food & beverage industry growth engine
The food & beverage industry’s estimated worth was 5.34 trillion euros in 2022. That will push up to 8.47 trillion euros by 2027.
Brick and mortar shops have traditionally carried out wholesale food & beverage buying and selling. Trade credit has been offered manually.
However, this changed in 2020 when we witnessed a massive shift to online purchasing. There was a 51.6% year-on-year increase of online purchasing for food and 39.3% for beverages.
Despite this, deferred payment options in the B2B food & beverage market are still not the standard offer for buyers, so they still feel the pressure. Meanwhile, banks have not responded to the increased demand for online trade credit.
The good news is this is now changing fast! Companies like TermsTech have developed a win-win solution for buyers and sellers. Buyers put off the payment until later with digital trade credit via payment terms. Meanwhile, sellers receive cash upon proof of delivery.
Here’s how it works for businesses in food & beverage
Integrate TermsTech’s payment terms into your online checkout. This enables you to offer trade credit on tap to online buyers. If your buyers choose to pay with payment terms, they defer payment of their purchase up to 120 days.
But, food & beverage industry sellers receive payment upon proof of delivery. Buyers subsequently pay us back in line with their chosen terms. This is a win-win for both and helps buyers and sellers manage their cash flow more sustainably.
Our tailor-made payment terms solution caters to all your needs. The result? You do not have to worry about credit rating checks, financing, fraud protection, risk management, payments, or even debt collection.
5 reasons to choose TermsTech as your payment terms provider
Enhance customer experience
B2B customers love to pay for goods with credit. Offer TermsTech’s payment terms at your checkout and watch your conversion rates increase while you attract new customers. Flexible. Fast. Easy to use.
Larger transaction sizes = grow revenue
Without providing payment terms, only a few B2B customers would be brave enough to make large transactions. Our credit limit strategy of up to EUR 200k makes the buying decision easier.
Fast and consistent cash flow
Your cash flow and working capital are key to a successful business. We pay you up front and the buyer pays us back via payment terms up to 120 days. It’s a win-win for you and your customers.
Fine-tuned credit check
Give your business the reputation it deserves. With our in-house-developed eligibility assessment tool, you can rest assured that we extend payment terms only to those with a good credit rating. Not only is our process lightning fast, it takes the pressure off of you to run your own checks.
Risk-free terms
Any non-payments? That’s not your problem anymore! Our Buy Now, Pay Later solution is completely risk-free for you. Any payment defaults due to fraud or non-payment are on us. This way you can reduce your risk while focusing on what you do best. Terms.Tech helps you to build your business wisely and safely.
Contact us
Hi, I’m Wouter!
I’d love to discuss how we can help your operation with our working capital solutions. I’m looking forward to meeting you and answering all of your questions about AREA42.
