A2X Interview cinvio: Simplifiying logistics one payment at a time

copyright Cinvio

copyright Cinvio

Digital payments are a significant step in every business process. But each industry brings its own characteristics and thereby challenges. For this interview, we spoke to Alison Williams from cinvio, a B2B payment platform and digital wallet solution that simplifies and facilitates trade between all stakeholders. cinvio specializes in the payment processes within the logistics sector and is aspiring to become the first choice in pre-payment flows for B2B logistics across the globe.

What are the challenges for logistics companies regarding payments?

Alison: Today, the greatest challenge is how to create accurate invoices for existing and new services, besides how to adapt financial processes to catch up with the fast-evolving world of e-commerce and, of course, get those invoices paid! With covid-19, DSO has extended up to 60 days for some companies; this is a great pain. It’s high time logistics jumped onto the e-commerce train.

How relevant are these challenges? What are the costs and time involved?

Alison: We believe that overcoming these challenges is crucial for business. Hearing that companies spend an average $34.4 billion a year on payment processes and invoices (20% of which are inaccurate) and a loss of 3% total revenue, it is clear that it is an expensive and time-consuming process.

How can you solve the challenges that exist?

Alison: It’s easier than you’d think. Companies who have already joined cinvio have been reaping the benefits since day 1. Our payment platform can accommodate practically all B2B payments for logistics – upfront, on the go, as a subscription, or post-delivery – all in an automated and digital way.

What problem are you solving here at cinvio?

Alison: We offer a solution to more than one problem. If a company offers a service digitally and uses cinvio to settle the payments, they will be paid instantly via the digital wallet. Not only that, cinvio will take care of submitting the invoices to their customers and, should they choose to do so, cinvio can also automatically book it back into their invoicing system: no creating invoices, no chasing payments, no waiving, no reconciliation…

What makes cinvio stand out?

Alison: We are unique because we chose to be dedicated to the community we love the most: B2B logistics. We offer them a digital wallet with which they can purchase services online, instantly, without the need for a credit card. In turn, service providers reach out to a community ready to pay for services with an account created especially for that.

How far have you got with your solution?

Alison: cinvio was launched in 2020. Today we have a community of 400 wallet holders and 3 service providers offering services on the platform: DP World, Nxtport and CertiWeight. Not only has the userbase of our platform grown, but its functionality has too: we now offer a pricing model configurator to accommodate recurring payments such as subscriptions or bundles.

Anything else you’d like to add?

Alison: We’d like to reach out to all ambitious CEOs and CFOs in logistics to bring it on! Share your business development dreams and struggles with us. We are positive that cinvio can settle them for you.

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