Suppliers selling to buying organizations in the complex and fragmented education, healthcare, government and non-profit sectors face the following challenges:
- Sluggish sales growth;
- Insignificant market share;
- Excessive marketing and selling expenses;
- High customer churn;
- Low customer loyalty;
- High transaction processing and related overhead costs;
- Inability to meet rapidly evolving business conduct standards from a legal, socially responsible and environmentally conscious perspective.
Despite internal sales forces and alliances with purchasing and payment cooperatives, in addition to technology, financing, and service providers promising to enhance relationships with buyers, the majority of suppliers in education, healthcare, government and non-profit are underperforming relative to their other market segments and possess the following unmet needs:
- A business development program capable of continuous commercialization, onboarding, relationship development and training at every level of the buying organization from leadership through individual buyers;
- Positioning as a preferred supplier presenting the best available pricing and best overall value proposition;
- Enhanced financing and payments alternatives offered to buyers without negatively affecting cash flow or increasing transaction costs;
- Catalog provisioning and transaction data exchange capabilities that streamline, automate, and lower cost of origination, processing and reconciliation for all transaction parties;
- Ensuring fulfillment of evolving business conduct standards.
VISION For Suppliers
Working with PayBack unites suppliers with buyers in a preferred relationship in the buyer’s chosen and exclusive business-to-business commerce environment on the PayBack Platform, which delivers superior Automation, Financing & Payments, Insight and Enablement to meet needs of suppliers. The PayBack Platform difference lies in its:
Ability to meet the distinct needs of each supplier and buyer by delivering superior capabilities (see below), imbedded Procure-Through-Pay best practices that result in consolidation of purchasing with participating suppliers;
Relationship with suppliers and buyers rooted in true partnership, requiring no investment or increase in costs while yielding a preferred and continuous relationship in the buyer’s exclusive purchasing environment;
Turnkey execution, change management and training strategy in established best practices to ensure satisfaction of all buyer and supplier organizations’ stakeholders, and maximum fulfillment of objectives;
Supplier satisfaction program including joint accounts planning, representation to buyer organization leadership including head financial and purchasing officers and live training on behalf of all suppliers to individual buyers.
The PayBack Platform provides the following capabilities in delivering the vision above:
- Workflow and processing Automation through best of breed Procure-Through-Pay™, Catalog Provisioning, and Transaction Data Integration;
- Enhanced Financing & Payments through Funded EarlyPay™, Special Project Financing, and Unified Payment Processing;
- Insight through Spend Intelligence, Supply Chain Integrity, and Sourcing Optimization;
- Enablement through Process Improvement, Last Mile Onboarding, and Training Program.
Suppliers participating in the PayBack Procure-Through-Pay platform enjoy projected revenue and profit increases exceeding 10%, guaranteed invoice payments, and improved supplier insight, account development and fulfillment of business conduct standards.