As greater volumes of B2B trade have moved online in recent years, there has been a sharp rise in the number of industrial supplies marketplaces aiming to disrupt and digitise the traditional offline process of designing and ordering parts, components and materials.
However, there has been no efficient way to take the preferred payment methods of buyers and sellers online. That is, until now.
The buying and selling of industrial supplies has taken place via invoices and on payment terms for years. Companies making large orders of materials or supplies expect to pay on credit terms. In the past, when the majority of trade took place offline, suppliers offered trade credit in order to win and retain customers.
To manage the associated risk, sellers traditionally resort to paper-based trading account applications and manual credit decisions. But these processes aren’t fit for the world of fast-paced online marketplaces.
That’s where Hokodo comes in.
Download the brochure today:
How we help industrial supplies marketplaces
Attract new buyers
Offering competitive credit options will help your marketplace to stand out in an increasingly saturated niche. Enable buyers on your platform to defer payment by 30, 60 or 90 days, interest free, and watch as your customer base grows.
Up front payments, guaranteed
Diversify and grow your marketplace by providing guaranteed, up front payments to merchants. Hokodo’s digital trade credit solution means that suppliers get paid without impacting the cash flow or risk exposure of your platform.
Tailored for large order values
We’ve created a digital trade credit solution that is optimised for the large average order values associated with the industrial supply chain. We offer the payment terms your buyers expect and accept payment via the methods most convenient for them.
Lead time leeway
In many cases, industrial components are custom manufactured for the buyer. Such purchases may require deposits, milestone payments and a final invoice issued post-delivery. Hokodo’s flexible payments solution is built to withstand fluctuating lead times.
How it works
A buyer visits your marketplace as normal and places an order for industrial supplies. In the background, Hokodo conducts credit eligibility and fraud risk checks.
When ready, the buyer heads to the checkout. They only see the payment terms for which they have been approved.
The buyer chooses their preferred payment plan and method, and confirms their order.
Hokodo pays you up front, preserving the cash flow of your marketplace and that of the supplier.
The buyer pays us back in line with their payment terms.
"Integrating with Hokodo has allowed us to significantly increase our value proposition to our suppliers on our B2B marketplace, through providing seamless real time credit insurance policies to the users of our platform. Guaranteeing each transaction through an API has proved priceless for Rooser!”
"Hokodo and Graindex have created a unique product that gives farmers the peace of mind that they will be paid when selling their crops...Our experience working with the Hokodo team has been excellent - we can now offer our Guaranteed Payment Collection service through access to their innovative technology.”
"Hokodo is a massive part of our proposition in being able to ensure suppliers receive payments on time and build trust on the platform. YardLink is on a big growth trajectory and we see Hokodo as not just ready for us right now, but that it will continue to work for us as we move forward.”
"A great User Experience and great payment terms and flexibility are the two main benefits our customers are looking for, and thanks to Hokodo we are able to offer them that…They have helped us to grow a base of extremely loyal customers all across Europe thanks to payment terms."
“We see Hokodo’s Buy Now, Pay Later solution as one of the key enablers for growth in our B2B marketplace. Post-COVID, payment terms for restaurants have been tightened, so being able to offer credit is a huge value add for Katoo and all the businesses transacting on our platform.”
Want to find out more about how Hokodo can help you to sell more and grow your platform?
Attract new buyers and suppliers with a trade credit solution built for industrial supplies marketplaces.