Unlocking Market Growth: The Key Role of Flexible B2B Payment Terms in Global Expansion

Survey Reveals the Crucial Impact of Payment Flexibility on B2B E-Commerce Growth and Cross-Border Expansion in 2024

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Key Takeaways:

  • Strategic Expansion: 44% of B2B sellers are gearing up to extend their e-commerce operations into Europe, and 34% into the Americas in 2024.
  • The Power of Payment Terms: 65% of B2B sellers believe offering flexible payment terms is vital for business growth, with 68% in the UK and US committed to leveraging these terms for e-commerce success.
  • Unified Payment Solutions Demand: 62% of B2B sellers emphasize the need for a seamless, unified payment terms solution applicable across multiple regions.

Introduction: Navigating the Future of B2B E-Commerce

A new joint research report by Hokodo and US-based fintech company Balance highlights the significant role of flexible B2B payment terms in driving global market growth. The study, based on a survey of 200 merchants and marketplaces from the UK, US, France, and Germany, sheds light on the evolving landscape of B2B e-commerce and the strategies businesses are adopting for expansion.

Global Expansion in Focus for B2B Sellers

E-commerce Operations Set to Grow

The report reveals a strong trend toward international expansion among B2B sellers, with a substantial proportion planning to extend their operations into Europe and the Americas. This move underscores the growing importance of cross-border trade in the B2B sector.

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The Role of Payment Terms in Business Growth

Payment terms emerge as a critical factor influencing business growth. A significant majority of respondents recognize the necessity of offering flexible payment options to facilitate expansion and maintain a competitive edge in the market.

The Critical Lever of Payment Terms

Payment Flexibility as a Growth Strategy

The survey results underscore the importance of payment terms as a strategic tool for long-term business growth, especially for smaller businesses within specific revenue ranges. The emphasis on payment flexibility reflects a shift in how businesses approach international trade and customer relationships.

The Need for Comprehensive Payment Solutions

The demand for unified, cross-border payment solutions is apparent, with a significant percentage of B2B sellers highlighting the need for a seamless approach that can be applied across various regions. This need points to a market gap that innovative financial solutions like those offered by Hokodo and Balance aim to fill.

Hokodo and Balance: Pioneering Global Payment Solutions

Integrating Key Elements of International Trade

The partnership between Hokodo and Balance encompasses crucial aspects of international payment terms management, including credit scoring, fraud mitigation, payment processing, insurance, financing, and collections. This comprehensive approach is tailored to empower global merchants to achieve their growth objectives.

Empowering Merchants for Global Success

By providing an all-encompassing platform for trade credit management, Hokodo enables businesses to offer payment terms even on first purchases, while ensuring merchants get paid upfront and remain protected from risk. Balance’s specialization in online payment capabilities further enhances the proposition, driving revenue growth for businesses.

Conclusion: The Path to Successful Global Expansion

The survey by Hokodo and Balance illustrates the vital role of flexible payment terms in the global expansion of B2B e-commerce. As businesses prepare for growth in 2024, adopting strategic payment solutions will be key to unlocking new markets and driving long-term success. The report demonstrates how innovative financial technologies are shaping the future of cross-border B2B trade, offering insights into the strategies businesses can employ to thrive in an increasingly interconnected market.

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