Today, brands that engage in multichannel sales with drop ship and marketplace retailers must contend with long net terms (affecting their cash conversion cycle) and significant operational and administrative overhead. In fact, the financial flow is among the top 3 concerns of marketplace and drop ship sellers (strategy, financial flow and inventory) as accounts receivables (AR) teams are required to manually manage invoices and match with incoming payment for each channel.
When looking for financing services to improve liquidity, brands find out that existing solutions are not built for multichannel e-commerce sales and are too complex, require manual operations and are expensive.
But with the launch of Cymbio Finance, we now offer next-day payouts and automated fin-op for brands’ multichannel sales.
What is Cymbio Finance?
Cymbio Finance is our new fin-ops automation tool with built in financing service. It automates payment collection and reconciliation, streamlining cash flow for multichannel drop ship and marketplace sales. It enables brands to get paid instantly for the products they sell online – without having to add to their current operations. This new service ensures that our customers get fast access to cash for their multichannel sales and eliminates fin-ops overhead of drop ship and marketplace operations.
How Does Cymbio Finance Work?
Unlike traditional retail financing companies, Cymbio is – first and foremost – a digital sales growth platform, connecting brands to marketplaces and retailers, onboarding and listing their products, managing inventory, orders and billing, and helping the brands grow their revenues. The launch of an automated financing option into the product mix further strengthens our ability to help brands grow their business.
By automating Cymbio Finance, brands will receive the following benefits:
- Cash Flow Streamlining: Receive automated daily payouts for the previous day’s sales
- Reconciliation: Automatically manage incoming payments and match invoices to simplify the reconciliation process
- Retailer and marketplace payment collection handling: Reduce the overhead of collections and disputes handling
- Reporting and analytics: Improve and plan budget and operations ahead of time
Why Cymbio Finance?
Cymbio Finance solves multiple pain points in the financial workflow and will allow brands to improve efficiency and liquidity, putting their money back to work faster. With the launch of Cymbio Finance, brand partners are offered a growth spurt opportunity, which will create a flywheel effect for them, as their multichannel sales will now have the same payment terms as DTC sales, allowing for continued growth.
Early adopters of the tool have already shortened their cash cycle by an average of 32 days, which is significant, especially in today’s economy. With Cymbio Finance, brands now have a true end-to-end solution for taking the multichannel commerce approach.
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