InvoiceNxt is a digital platform that facilitates B2B transactions by enabling early payments for suppliers of all sizes within complex supply chains. The solution enhances cash flow for SMEs and micro SMEs while providing corporates with a streamlined method to meet their ESG standards and drive Net Zero initiatives.
Funding
$1.3M 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.
Founders
Product
Problem
SMEs and micro SMEs in complex supply chains often face challenges in accessing timely payments, which can strain their cash flow and hinder their ability to meet financial obligations. Traditional supplier finance programs can be complex, requiring extensive documentation and potentially unattractive terms for smaller suppliers.
Solution
InvoiceNxt is a digital platform designed to streamline B2B transactions by providing early payment options for suppliers within large supply chains. The platform integrates with corporate buyers' ERP systems to provide suppliers with visibility into invoice status and facilitate early payment requests with a single click. By leveraging corporate ERP data, InvoiceNxt eliminates the need for extensive documentation, automates the financing process, and enables suppliers to receive payments quickly. This improves cash flow for suppliers, allows corporate buyers to strengthen their supply chain relationships, and promotes ESG initiatives by incentivizing sustainable practices throughout the supply chain.
Target Audience
InvoiceNxt targets large corporate buyers looking to optimize their supply chain finance programs and improve relationships with suppliers, as well as SMEs and micro SMEs seeking access to early payment options and streamlined invoicing processes.
Features
- Integration with corporate buyers' ERP systems (e.g., SAP ECC) via a certified interface
- Self-service portal for suppliers to track purchase orders, goods receipts, invoice processing, and payment status
- "PO flipping" functionality to generate accurate invoices by pulling data directly from purchase orders and goods receipts
- Automated validation of invoices using OCR technology
- Secure platform for suppliers to update KYC documents and ESG data
- Early payment options for invoices with a single click
- Automated routing of payments to funders upon invoice maturity