Genieum provides suppliers of all sizes that sell goods and services on invoice payment terms to their business customers (or would like to) – with powerful tools to gain an unfair advantage. Here are just a few of the key features.
Introduce our longer terms, larger limits and 3-day invoice settlement to increase sales, reduce DSO, shorten OTC cycles, reduce risk and improve operating metrics.
Offer customers a genuine B2B trade loyalty reward. A unique and configurable program where reward value is captured on their future spend with you.
Our sales promo templates, your personalisation. Use our better trade credit and rewards to drive customer sales and loyalty. Stop using price discounts to move excess stock.
Give your customers the ability to pay in their preferred currency while you get paid in yours.
Accessing the Platform Features under your Genieum Account, with enabled supplier functionality, are powerful tools that allow businesses of all sizes to capture Key Benefits.
Having the flexibility to extend your payment terms up to 120 days means your cash flow will improve.
Giving customers better trade credit will increase sales. Simple. You will stand out from the competition, win more business, get paid faster and reduce risk.
You can be rewarded for your everyday business purchases with the Genieum Rewards Program.
Having loner terms and larger limits gives you flexibility when you need it. Ride out those seasonal lows and unplanned challenges.
Estimate how getting paid earlier through Genieum can improve your cash flow and grow your business.
Genieum allows you to transform the way trade credit is used in your business. There is no solution in the market like Genieum. More than 80% of businesses surveyed want Genieum. Our trade credit is simply better.
Genieum gives you access to features that deliver such a compelling point of difference that your business will now have an unfair advantage.
Our team have over 100 years of combined experience across finance, trade credit, sales, business transformation and technology – ready to support you.
Ready to access Genieum’s simply better trade credit? An accredited Partner, together with a member of our Account Team, will guide you through the process of establishing an account on the Platform. Depending on your circumstances, this can take a few hours to a few days.
You decide which of your customers you would like covered by the Genieum terms. Send those details to us via ERP integration or secure file share. We risk score them and set limits for exclusive spending with you. We then establish a linked profile for each of them. You can add new customers at any stage.
Our team will work with you to particularise a communication template that you can use to inform your staff and customers of your new arrangements and introducing Genieum. When you give us the green light – we email your customers the new trading terms and reassure them it is business as usual but with simply better trade credit terms!
Your approved customers can accept the improved trade credit terms by their conduct of placing another order from your or visiting their Account on our Platform. They can opt-out at any time. Invoices will be restated via the Platform and subject to agreed settlement parameters for each Buyer, your interest in the Buyer payment will be settled and Genieum will then become the creditor under the restated invoice via a novation. The Buyer will have an obligation to pay Genieum the restated invoice amount subject to early payment incentives.
Found us via a Genieum Partner? Great. If not, we will match you with a certified Account Partner to assist. Rest assured you will also have access to our Member Services team 24×7.
Our fees and charges compare very favourably to other costs associated with managing trade accounts and payments, and are certainly cheaper than factoring or BNPL solutions. In our most popular scenario, customers get 45 days at no cost (within a total of 120 days to pay) while you, the supplier, get paid within 3 days. This scenario would cost only 1.75%. Terms and conditions and other charges apply, and further details will be provided on enquiry.
Great question. You will get paid upfront. Your customers will get longer payment terms and larger limits. You will be able to align default risk with Genieum. You will be able to encourage trade loyalty via a Rewards Program and run sales promotions based around trade credit. All these benefits will improve your cash flow, increase your sales and reduce your risk.
Good question. Genieum is neither factoring nor lending. Genieum provides suppliers and their buyers with better trade credit. Your original invoices will be restated via the Platform, settled by Genieum subject to agreed upon settlement parameters and then Genieum will become the creditor of the retatated invoice amount via novation and subject to early payment incentives. You then get paid in 3 days, while your customer gets 120-day payment terms with early payment incentives. You will not be selling invoices, borrowing money or granting any security.
If you currently sell to other businesses on invoice payment terms (aka trade account or trade credit terms) (or you would like to!) and you have been trading successfully for at least 12 months, then you would be eligible for Genieum. We have clients of all sizes operating in all industries.
No. Genieum is straightforward to adopt. There is no locked-in minimum contract term. You take, fulfil, deliver and invoice for orders from your customers like normal. Following agreement with you and your customers, you can restate invoices via the Platform and receive a settled amount from Genieum within 3-days subject to agreed upon settlement parameters. Genieum then becomes the creditor of the restated invoice amount payable by the customer via novation and subject to early payment incentives. You can exchange information with our technology platform via our integration options or secure file transfer. We simply ask that you stop supplying your customers when they are having difficulty paying us, just like you would normally do if they were very late paying you.
Excellent question. What business would not want larger spending limits and longer payment terms? Particularly if they don’t need to change their work practices or systems. 80%+ of surveyed businesses want Genieum. In any case, you can run surveys to test demand and select only those customers you think are best suited. If they want it great, if they opt out, then sad but we of course respect their choice. At the very least and unlike factoring – they will see you positively as only trying to help their cash flow.
While we are here to answer your customer questions, we will not engage with them on any arrears or debt recovery until you have had up to 14 days to work with the customer and bring their account back in good standing. You will also have real time data on the payment behaviours and Account status of your customers.
Whether you or your clients are selling and/or buying on trade credit terms, you need Genieum
Thank you for your interest. Please let us know how we can help.
