InvoiceNxt is revolutionizing the way supply chain financing works by leveraging technology to provide a platform that benefits suppliers and lenders alike.
At the heart of the platform is our AI-driven process that mimics smart contracts, creating a transparent and efficient system that makes financing accessible to all suppliers.
When you hear the term “smart contract,” you might immediately think of blockchain technology. However, at InvoiceNxt, we’ve found a way to utilize the principles of smart contracts without relying on blockchains. This is important because it allows us to offer our services at a lower cost and much less complexity.
So, what is a smart contract? Essentially, it’s a self-executing contract that automatically enforces the terms agreed upon by all parties involved. Think of it as a digital version of a traditional paper contract, but with a built-in system that ensures compliance.
In our case, we’ve designed a system that uses artificial intelligence and machine learning algorithms to analyze trusted corporate buyer’s ERP data, determines the terms of the contract, and automatically execute payments when those terms are met. This makes the process faster, more efficient, and less prone to errors or disputes.
Our use of smart contracts offers numerous benefits for suppliers and lenders.
For suppliers, it means faster access to funds and improved cash flow. The automated nature of the system ensures that payments are made promptly, eliminating the need for follow-ups and invoice dunning. This allows suppliers to focus on growing their business rather than chasing payments.
Lenders also benefit from our smart contract technology. With InvoiceNxt, lenders can underwrite even the smallest invoices. This is because our system automatically verifies the authenticity of invoices, calculates early payment offers, disburses the money upon request and ensures collection at zero marginal costs. This means lenders can offer financing to a broader range of transactions, even those that may have been previously deemed too risky or too small to receive financing.
Smart contracts powered by InvoiceNxt have enabled us to create a process that offers benefits to both suppliers and lenders. By leveraging AI and machine learning algorithms, we’ve created an efficient, automated system that makes supply chain financing accessible and transparent for the entire supply chain.
InvoiceNxt is an enterprise SaaS solution designed especially for emerging markets. It is focused on digitising B2B transactions between buyers and suppliers and offering fuss-free early payment in the form of supply chain financing to suppliers ( large, medium & small, and micro enterprises) regardless of how small the invoice amount is. InvoiceNxt is ESG-inclusive and aids corporates in achieving their net-zero targets.
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