Unilog provides a B2B eCommerce solution to help businesses embrace online resources in their procurement processes. But the platform did not support the actual payment aspect of digital procurement — until now.
In collaboration with Apruve, Unilog said Thursday (March 24) that its CIMM2 platform has integrated payment and account management capabilities, allowing suppliers on the portal to manage their outstanding invoices, credit applications, purchase orders and payments.
“Handling B2B eCommerce payments is a manual and complex process, requiring credit approvals and financing, invoicing, account setup, etc. — with many of these functions still being done offline,” said Unilog President Suchit Bachalli in a statement. “This creates a large burden, both for the online B2B buyer and seller, resulting in a lengthy and complicated sales process.”
He added that the integration of Apruve solutions automates these processes and consolidates them into a single, online platform.
Unilog will now support purchase order automation, online checkout and customized payment terms for orders; Apruve will also extend its invoice automation and payment reminder features to the platform, in addition to financing and credit approvals for corporate buyers.
Apruve, which facilitates B2B payments through its own partnership with FNB Bank, can provide corporates with up to $50,000 in invoice financing.
Last year, the company was chosen by MasterCard and Silicon Valley Bank for their Commerce.Innovated. program, an accelerator venture for commerce-related businesses.