Banner -  Streamlining Transactions with Simple B2B Milestone Payments

Banner - Streamlining Transactions with Simple B2B Milestone Payments

Team Balance
Team Balance
·
February 3, 2021

About Banner

Banner connects property managers with contractor service providers, making it easy to procure standardized bids for services and supplies. Banner customers get 20% cheaper bids on average, in 20% of the time. With Banner, contractors’ licenses, insurance, references, and credentials are automatically included with their proposals. It’s equally easy to work with current vendors and find new ones. Banner’s tool streamlines the entire workflow. 

 

Banner Use Case
In the past, Banner created invoices manually using Stripe and managed them offline. Since construction managers typically require milestone payments, Banner sought to manage both online invoicing and milestones. This would give construction managers flexible payment methods beyond credit cards, then quickly and simply release vendor payments at the right time, sometimes to multiple vendors.

“The Balance team has been incredibly helpful, and we couldn’t be happier with the product. We highly recommend trying them out for any B2B payments processing flows, like milestone payments, multi-vendor payouts, and invoicing - start to finish.”

- Mark Murphy, CEO

Impact

With the Balance Platform, Banner makes it easy for construction managers to adjust the payment plan based on the structure of their deal. Contractor vendors get paid in milestones, which breaks down large transactions and streamlines them. Balance removes the administrative overhead of this payment mechanism by taking care of automatic collection and settlement. Once a contractor is awarded a bid, Banner uses the Balance platform to generate digital invoices for the manager’s records, and automates direct payouts by milestone, so neither Banner nor the contractor needs to worry about collection or settlement.

Learn More

With Balance, it’s easy for service providers 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 more.

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