Apruve automates B2B accounts receivable and credit management, enabling businesses to offer net payment terms with guaranteed next-day invoice payment. This platform reduces Days Sales Outstanding to one day and mitigates credit risk through a global credit network, streamlining the procure-to-pay cycle.
Funding
$6M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
CAFounders
Product
Problem
Businesses face challenges in managing accounts receivable and extending net payment terms to their customers, which can lead to extended Days Sales Outstanding (DSO) and increased credit risk. The manual processes involved in credit assessment, invoicing, and payment collection are resource-intensive and prone to errors, impacting operational efficiency and revenue predictability.
Solution
Apruve provides an automated platform designed to streamline B2B accounts receivable and credit management. The system facilitates the offering of net payment terms to customers with the ease of credit card transactions. By integrating a global credit network, Apruve guarantees next-day payment on invoices, effectively reducing DSO to one day and mitigating credit risk for businesses. This automation accelerates the procure-to-pay cycle, enhances revenue predictability, and allows businesses to scale their sales operations more effectively.
Target Audience
The primary target audience includes global enterprises and businesses seeking to automate their accounts receivable processes, reduce credit risk, and offer flexible net payment terms to their B2B customers.
Features
- Automated B2B credit and accounts receivable management platform
- Guaranteed next-day payment on all open invoices, reducing DSO to one day
- Integration with a global credit network for underwriting and financing
- Facilitates offering net payment terms comparable to credit card acceptance
- Streamlines the procure-to-pay cycle for improved revenue predictability
- Reduces fixed credit and A/R costs and resources by over 50%
- Supports omnichannel purchasing across online, in-store, and sales channels
- Automated invoice creation and delivery, including ERP system integration
- Secure buyer payment processing via direct debit, check, or ACH in preferred currency