40Seas Partners With NextSmartShip To Streamline B2B Payments

40Seas Partners With NextSmartShip To Streamline B2B Payments

New York, United States – August 30, 2024 —

40Seas is thrilled to announce our partnership with leading eCommerce order fulfillment company NextSmartShip, who will be leveraging our Global Accounts Receivable platform to provide a more seamless online payment and shipping experience to its expanding customer base.

This partnership represents another important milestone in the mission to digitize and streamline key steps in B2B global trade, with NextSmartShip joining the dozens of companies worldwide that are already using the 40Seas AR platform, including Zim, Himiway, etc.

With fulfillment centers in China, North America, Europe, Australia, NextSmartShip operates at a vast scale, with massive responsibility for delivering over a million packages to destinations worldwide each year. As part of this collaboration, the 40Seas AR solution will be made available to the 2,000+ Direct-to-Customer (DTC) brands that work with NextSmartShip, facilitating smooth international trade and seamless product distribution.

Addressing the Growing Complexity of B2B Payments in eCommerce

As order volumes increase, navigating B2B settlements can become increasingly complex, with businesses needing to manage transactions across multiple currencies, varying payment terms, and diverse sets of regulations. Against a backdrop of geopolitical, environmental and economic uncertainty, companies are also being forced to contend with fluctuating order volumes, changing vendor requirements – all while ensuring timely and accurate payments. For businesses dealing with international customers and suppliers, these challenges are even more pronounced.

NextSmartShip firmly recognizes that smooth and flexible payment processes are essential for maintaining strong relationships with vendors and partners, and the company is delighted to help their customers better manage the intricacies of global B2B payments, giving them extra bandwidth to focus on core operations and improve cash flow.

Additionally, traditional manual processes for managing invoices and payments often create unnecessary workflow bottlenecks. Manually approving, verifying, and processing invoices can be incredibly time-consuming, slowing down the entire supply chain. These manual workflows are also highly susceptible to human error, leading to incorrect payments, invoices slipping through the cracks, and ultimately, strained vendor relationships.

The Power of 40Seas’ AI-Powered, Data-Driven Technology

The AI-powered, data-driven invoice management platform addresses the complexity of B2B settlements by automating and optimizing the entire invoicing process. The AI-driven technology streamlines this process by automating routine tasks like invoice approval, verification, and payment scheduling, mitigating the risk of human error and alleviating administrative burdens.

The Global AR platform centralizes invoice data in a user-friendly dashboard, allowing companies to easily track payment statuses, manage due dates, and expedite invoice approvals, mitigating the risk of payment delays. By connecting their ERP or accounting software, companies can enjoy a streamlined reconciliation process, matching invoices with purchase orders and delivery receipts in real-time, while collecting payments via credit card, direct debit or digital wire transfers in different currencies worldwide. The platform also enables companies to offer extended payment terms of up to 90 days to their customers, without absorbing any credit risk, so they can focus on driving sales volumes rather than debt collection and underwriting payments. 40Seas is available as an API or stand-alone platform, both of which can be seamlessly embedded into checkout portals to improve business flow and deliver more convenience to customers.

This partnership with NextSmartShip is yet another strong seal of approval for the AR platform from a truly global logistics juggernaut, and 40Seas looks forward to onboarding more industry partners who share the vision for a more streamlined and efficient supply chain.

If users are interested in seeing what 40Seas’ AR platform can do for their business, visit the homepage and click ‘Request a Demo’ on the top right hand side of the page. A member of the team will be able to handle users’ query in due course.

Contact Info:
Name: Nissim Alkobi
Email: Send Email
Organization: 40Seas Inc.
Website: https://www.40seas.com/

Release ID: 89139829

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