The Goal
Digitize accounts receivables/payables, invoicing, embedded payments, and line of credit management.
The Challenge
Offer a secure, digital way to handle agricultural transactions. Some of our demographic relayed a real hesitancy to bank digitally with security concerns. On the flip, payments via mail were sometimes much slower or got lost.
Streamline digital payments, provide real-time tracking, and automated processes. What can we build and who can we integrate with that is an expert in the space?
Provide comprehensive record-keeping, reduced errors, and seamless integration with existing systems. How do we connect all of the necessary systems in a ways that is still a good user experience?
Enhance security and convenience. Bank shopping and how/where do we communicate these protections to comply with bank requirements, and build trust with our users without dominating their experience negatively.
The Solution
Integrate with existing agribusiness systems, eliminating the need for paper checks, speeding up payments, and ensuring secure, real-time transactions, boosting efficiency and cash flow.
Provide access to both paid and outstanding invoices with intuitive sorting for better organization. Increase accessibility to pay outstanding settlements directly through the platform and track previously made payments.
Integrate with agricultural lenders allowing users to track credit usage, automate approvals, and provide real-time visibility. This streamlines operations, reduces manual processes, and lowers overhead costs for ag lenders.
Mitigate risk with accounts provided and insured by an FDIC-insured bank.
The Results
These solutions provide more than just ease and convenience; they are designed to provide financial access and management for all stakeholders in the agriculture supply chain.
13 days
average reduced days sales outstanding
up to $18
business cost of a single paper check
$45k/yr
approximate savings of digital payments for 500 farmers