TreviPay, a B2B payments and invoicing network, today announced its Pay by Invoice program with Northern Tool + Equipment, a major supplier of tools and equipment. The partnership powers the new Northern Tool Commercial Account program, designed exclusively for businesses to provide greater flexibility and convenience in managing payments. The net terms program enables businesses net 30 payment terms and flexible invoicing options to better meet the payment preferences of B2B buyers across America.
Through the new Commercial Account net terms program, businesses served by Northern Tool + Equipment can complete purchases across all sales channels. Additional functionality allows business owners to make purchases and assign other employees to safely pick up products in-store.
McKinsey’s recent B2B Pulse Survey underscores this omnichannel payments expectation, as B2B decision makers are equally seeking in-person interactions, remote communications and digital self-serve options across all geographies, industries and company sizes. More than half of the survey respondents would also switch suppliers if they didn’t have a smooth experience across channels.
“Payment experiences serve as critical, but often overlooked opportunities to build B2B customer loyalty,” said Brandon Spear, CEO of TreviPay. “Without thoughtful management of payment touchpoints, including seamless payment processes and offering preferred purchase options like net terms, today’s retailers risk losing ground to those that prioritize customer experience at checkout.”
By offering net terms to its business buyers through TreviPay, Northern Tool + Equipment can streamline its accounts receivable processes with automated application decisioning, quick buyer onboarding and a reduction in manual, back-office demands. TreviPay’s technology and managed services enable the retailer to focus on growth and customer care, rather than collections.
“For over 40 years, the folks who tackle the toughest jobs have counted on us to deliver more than just tools—we deliver the kind of service that gets the job done right,” said Lisa Cordes, director of finance shared services at Northern Tool + Equipment. “Teaming up with TreviPay lets us bring that same no-nonsense, get-it-done attitude to checkout. Because when it comes to payment options, our customers deserve tools that work as hard as they do.”