NextSmartShip announced its partnership with 40Seas, a fintech startup focused on modernizing cross-border trade finance. According to 40Seas, this partnership with NextSmartShip will help them leverage their Global Accounts Receivable platform to provide more seamless online payment and a better and improved shipping experience to their global customer base.
However, this is not where this partnership limits itself. In fact, it represents another essential milestone. What is it? It helps to digitize and streamline the key steps in B2B global trade because there are dozens of companies globally that use the 40Seas AR platform, like Highway, Zim, etc.
NextSmartShip has its fulfillment centers spread across a vast area, scaling across countries like China, North America, Australia, and even Europe. Hence, there is no denying that the company has the responsibility to deliver over a million packages to destinations worldwide throughout the year. Given that the 40Seas AR solution has now partnered with NextSmartShip as well, they will also benefit from NextSmartShip’s delivery perks. The 40Seas AR Solution will be made available to over 2000+ Direct-to-Consumer (DTC) brands that are affiliated with NextSmartShip, ultimately ensuring a smooth trade internationally along with seamless product distribution.
How Does NextSmartShip Understand and Recognize the Complex Challenges?
There is no denying that expansion is a great process for any business, but it also comes with many problems. One major problem many companies face is that when their order volume increases, it becomes quite complex to navigate and keep track of their B2B settlements. This is because businesses have to manage multiple transactions in various currencies and payment terms, each of which comes with a diverse set of rules and regulations.
While this is one issue, geopolitical, environmental, and economic uncertainty is also another factor because companies have to deal with fluctuating order volumes and changes in vendor requirements while making sure payments are made on time and with accuracy. Businesses that deal with international customers and suppliers foresee the impact of these challenges even more.
Traditional manual processes that businesses use for managing invoices and payments can often create unnecessary hindrances in the workflow. This is because approving, verifying, and processing payments manually can be extremely time-consuming, which can ultimately slow down the supply chain. It can also not be denied that manual work patterns are far more susceptible to human error and, hence, can lead to incorrect payments and missed invoices, which can create problems with the vendors.
However, NextSmartShip understands and recognizes these challenges and, therefore, offers its partners a smooth and flexible payment process, which helps maintain a strong partnership with both partners and vendors. It further also helps manage the global B2B payments, providing them extra bandwidth, which helps improve cash flow and the overall core operations.
The Power of 40Seas AI-Powered, Data-Driven Technology
The AI-powered, data-driven invoice management platform helps address the complexity of B2B settlements. This is done by automating and optimizing the invoicing process. How so? Well, AI-driven technology streamlines this process by automating all routine tasks like verification, invoice approval, and payment scheduling, which helps reduce the risk of any human error and also reduces administrative burdens, making work more efficient and precise. It further ensures that all packages sent off through it reach their destinations safely and soundly.
NextSmartShip stores invoice data in a user-friendly dashboard, which lets companies track their payment statuses easily while managing due dates, expediting invoice approvals, and reducing the risks of payment delays.
This particular platform also helps companies extend payment terms of up to 90 days to their customers without any credit risk. Hence, companies can focus majorly on driving their sales volumes upward rather than worrying about debt collection and underwriting payments. The 40Seas works both as an API and a stand-alone platform, both of which can be smoothly embedded into the checkout portals, which helps improve business flow and provides more convenience to customers.
The partnership between NextSmartShip and 40Seas looks like a strong seal of approval for the AR platform from a global logistics juggernaut. Hence, it is evident that 40Seas is also looking forward to partnering with NextSmartShip and benefiting from the excellent services that NextSmartShip provides.
If users are interested in seeing what NextSmartShip can do for their business, we suggest they visit the website today. Not only will you get all your answers, but a member of the team will also be available to deal with your queries online.
