Welcome to the final instalment in our blog series on how to choose a B2B Buy Now, Pay Later (BNPL) provider. So far we've explored the importance of:
- Offer rate and tech performance
- Ease of integration and solution flexibility
- Payment methods and price
- Collaborative approach and risk platform
In this blog post, we'll be asking why B2B merchants should be looking for end-to-end capability in their B2B BNPL provider.
What is an end-to-end solution?
An end-to-end BNPL solution is one that incorporates all elements of the order-to-cash lifecycle.
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Why does end-to-end capability matter?
The benefits of partnering with a provider who offers an end-to-end BNPL solution cannot be overstated.
An end-to-end solution is one which relies as little as possible on third parties. For example, Hokodo’s solutions are underwritten by SCOR Syndicate 2015, SCOR SE’s corporate syndicate at Lloyd’s of London. However, we have built an in-house data & credit scoring platform that serves as the foundation of our proprietary underwriting engine. This allows us to make faster decisions and offer credit to a larger pool of buyers than if we relied on a larger insurer for our lending decisions.
Meanwhile, businesses such as invoice insurers or factoring companies offer part of the process, but not the entire journey. This means that you’ll be left trying to tie together multiple solutions, chasing several partners and dealing with far more admin than necessary.
Look for a partner to whom you can outsource the entire order-to-cash journey, and you will benefit from a higher offer rate, faster credit decisions for your buyers and quicker fixes if something goes wrong.
And there we have it – the last of the 9 most important criteria to assess when prospecting potential B2B BNPL partners. We hope this blog series on how to choose a B2B Buy Now, Pay Later provider has been helpful in making the best decision for your business, and in case you hadn’t guessed, at Hokodo we are proud to have developed a solution that ticks the boxes for each of these criteria.
Are you currently choosing a B2B BNPL provider for your business? Download our ebook to learn what to look for and what to avoid.
