How MONIN offers flexible credit on 90% of B2B orders

Hokodo

MONIN has embraced digital trade credit, and its buyers have reaped the rewards of flexible payment terms. Learn how they offer credit on 90% of B2B orders with Hokodo.

  • MONIN, a renowned global brand, needed an improved digital trade credit offering.
  • Hokodo was able to offer the seamless payment terms required and integrate within two weeks.
  • Now, MONIN can offer instant, flexible credit on the vast majority of e-commerce orders.

Say bonjour to MONIN

Anyone who has ever been in a cafe, bar or coffee shop knows MONIN for their tasty syrups, liqueurs and fruit purees. Founded in 1912, this family-run, French business is a renowned global brand that sells predominantly to a large market in the B2B space. The global hot beverage syrup market is projected to be worth US$ 10.5 billion by 2034.

As IT Project Manager at MONIN, Maxime C. is responsible for evaluating the technical, functional, and operational needs of the business and then finding the best tools for the job.

A sticky situation

With cafes, bars and restaurants making up the majority of their customer base, MONIN understood that most B2B buyers expect payment terms. However, the trade credit offering on MONIN’s website left much to desire. 

When an order was placed, the team had to edit the invoice, send the IBAN, and then reconcile the transfer with the order number from the website.

“Our processes were manual, complex, prone to human error and, perhaps most important, not protected against non-payments,” Maxime explains.

In 2022, MONIN began to prepare to switch its e-commerce channel to Shopify. Maxime started looking for a solution that would enable buyers to access seamless credit on the Shopify platform while making payment terms faster, safer and more efficient for the sales and accounting teams.

The best solution

After a comprehensive benchmark and testing process of several traditional financing solutions, Maxime concluded that none suited MONIN's needs. The idea of developing a tailor-made solution in-house was discussed but quickly discarded due to the time and resources required.

That’s when Maxime discovered Hokodo at a trade fair in Paris. Hokodo’s payment terms solution was budget-friendly, digital-first and Shopify-ready. Finding a partner whose customer success team was available, flexible and French-speaking really was the best solution.

All systems go!

Due to operational constraints, the integration of MONIN’s payment terms had to be completed in just two weeks.

“The success of this unusually short onboarding proved the value of Hokodo in its speed of execution, flexibility, and the responsiveness of its teams,” said Maxime.

On launch day, MONIN’s trade credit offer rate was 78%. That means that nearly 8 out of 10 orders qualified for payment terms. Over time, the Hokodo team has worked closely with Maxime to push this figure even higher to 90%. Now, 50% of all purchases on the MONIN website are paid for via Hokodo.

Additionally, MONIN was one of the first merchants to implement Hokodo’s ‘Unprotected Credit’ feature. This enables a select, trusted group of buyers to access higher credit limits (with MONIN taking on risk for the extra amount) in order to boost customer satisfaction and loyalty.

Just getting started

MONIN has fully embraced the nature of digital trade credit, and its buyers have reaped the rewards of flexible payment terms at the point of need on the vast majority of orders. But Maxime is just getting started.

“Hokodo’s product suite is always evolving, so we’re excited to explore new features such as instalment payments and displaying credit limits to buyers in the near future. I am very keen to see the evolutionary capabilities of Hokodo, which will grow alongside us as our needs evolve.”

Want to learn more about how Hokodo can help take your payment terms offering to the next level? Get in touch today.

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