Response cuts time-to-pay for high-growth businesses

Response is a B2B marketplace that helps high-growth businesses optimize sourcing and procurement. Response helps bring spend under control and keeps teams focused on core operations by streamlining request and approval processes, automating non-core business sourcing, and comparing quotes from the entire US market, not just known vendors.

Challenge

Response was using an escrow service and Stripe to accept payments. Response needed a way to turn over transactions in the fastest way possible in order to ensure speedy procurement of supplies. They also wanted to provide a streamlined customer experience. ‍‍

Solution

With the Balance B2B Hosted Checkout, Response reduced time-to-pay, which now helps them meet requests in the fastest way. Response was also able to reduce payment and payment operations costs. At the same time, the company was able to start offering instant payment terms right in the checkout on their website. With Balance, Response can evaluate the risk for new buyers in six seconds, and provide transaction financing to qualified buyers immediately. This expands the number of buyers they can help. Finally, Response reported a marked increase in buyer satisfaction.
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Learn More

With Balance, it’s easy for marketplaces to set up seamless business transactions for buyers and sellers. Learn more about accepting multiple payment methods, instant terms, automatic vendor payouts, automated collections, and beyond.

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