Whether small businesses or large corps. So far, every company, regardless of its size has tested TrustBills by auctioning only a few trade receivables before starting big. The manual input is ideal for this purpose.
SME businesses often do not have their own ERP system. They use Excel for tracking the states of their business invoices. For them, we have developped a simple structured Excel upload.
With ERP Import, you first export the data in an XML format according to a structure specified by TrustBills from your ERP system. This XML document is then uploaded to TrustBills.
ERP Connect is a fully automated Restful-API that allows you to push your data on unpaid invoices directly onto TrustBills. ERP Connect works with all popular ERP-Systems, including such as SAP, Datev, Oracle and Microsoft Dynamics.
Debtors are not notified
Debtors are notified. They can but do not need to be invited to confirm the existence of receivables (if they are registered on TrustBills)
The starting price is the invoice amount minus the maximum discount accepted by you from which the auction is started. This starting price can be chosen directly or calculated by calculation assistants, using available risk factor information, for selected or all uploaded trade receivables by the seller.
Sellers choose an auction time among 1 day, 3 days or 7 days. For supplier-debtor relationships traded for the very first time, we recommend slightly longer auction duration, so that investors on TrustBills have sufficient time for an initial risk analysis.
Sellers of Trade Receivables can set the start of the auction exactly down to 5 minutes.