TERMS for Food
As a sector particularly vulnerable to seasonal changes in activity, foodservice has a lot to gain from the flexibility provided by TERMS.tech.
TERMS allows food businesses to weather the storms.
On top of significant seasonal variability, food businesses tend to take the first hit in times of economic stress. In such times, because they work on notoriously narrow margins, companies often find themselves under immense pressure, having to let staff go or close business entirely. With TERMS.tech, independent food businesses can continue to operate even in troubled times, ensuring a revenue for themselves and their staff.
TERMS gives buyers on food and foodservice marketplaces the option to delay payments for better cashflow management, without putting unnecessary pressure on suppliers - often small businesses themselves.
The option is presented to the buyer once their shopping cart is validated, right before payment. No cumbersome application required: the credit terms and maximum amounts are calculated automatically, based on the buyer's profile and past transactions. If they accept the payment extension, TERMS.tech pays the supplier in their name, and collects repayment directly from their bank account at the end of the tenor.
TERMS supports food buyers without penalising suppliers. A win-win for a sector dominated by SMEs.
For food marketplace operators, TERMS.tech is a unique competitive advantage that can be adjusted to fit their requirements.
Benefits for marketplace operators:
- Control over payment extension terms
- Guaranteed payment of marketplace fees by buyers and sellers
- Fast integration by TERMS.tech partner Marjory
- Competitive advantage for volume growth