Forbes: Brandon Spear on Enhancing Enterprise Finances
Brandon Spear tells Forbes that banks can offer enterprises managed receivables and global invoicing, creating a new revenue stream as credit tightens.
By TreviPay
Brandon Spear, CEO of TreviPay, sheds light on the challenges large enterprises face in obtaining credit and managing cash flow in this Forbes article. As the Federal Reserve raises interest rates, access to credit becomes more arduous, particularly for industries like semiconductors, manufacturing and retail. The burgeoning corporate debt, soaring by over $12 trillion recently, exacerbates this dilemma, making many businesses wary of accumulating more debt.
Spear delves into a groundbreaking approach for banks to support enterprises while cultivating a fresh revenue stream. By discerning enterprise customers’ needs, banks can offer value-added invoicing and payment services, encompassing managed receivables, global invoicing and enabling customers to pay on their terms while ensuring immediate payment for the enterprise.
Outsourcing these functions to banks can ease financial strain, bolster cash flow and liberate enterprise staff to focus on strategic initiatives. Moreover, providing tailored payment and invoicing solutions can foster customer loyalty, reducing the likelihood of customers switching to competitors.
In summary, banks have a substantial growth opportunity by diversifying their commercial services for enterprises seeking innovative financial solutions. The provision of streamlined invoicing, diverse payment options and cash flow management can be a game-changer in today’s dynamic business landscape.
About TreviPay
TreviPay, The Pay by Invoice Company, is the global B2B payments infrastructure partner for manufacturers, retailers, travel companies and banks. With our fully managed platform, intelligent apps, and 40 years of buyer intelligence, we help buyers buy, and sellers grow and get paid faster. Behind the scenes, we streamline the order-to-cash process, from fast customer onboarding and predictive marketing to smart invoicing and settlement, all powered by AI that improves with every transaction. The result is fewer errors, higher AOV, and guaranteed DSO. Enabling $11B+ in global trade annually, TreviPay operates in 32 countries and was named a Leader for Embedded Payment Applications by IDC and a top vendor in cash application by The Hackett Group.
For more information, visit www.trevipay.com.