An Update on Crossflow Payments: Trade Financing and Free EDI/invoice Connectivity Rocketing Up [PRO]
Crossflow Payments offers financing that is integrally coupled with free supplier network/EDI replacement capabilities as the two central components of the value proposition. From a marketing perspective, the firm appeared to be relatively quiet since launch, but theyâ€™ve more than made up for it in commercial traction to date. The genius of the approach is that the team has taken many years of experience from the world of EDI for all spend areas (e.g., direct and indirect) and combined it with an in-depth understanding of broader trade financing, including cross border transactions. So far 20 UK companies have taken Crossflow up on the offer of a free EDI replacement for supplier connectivity. The company typically signs three-year agreements for free EDI transaction processing (integrated to a commitment to offer the Crossflow finance solution to suppliers). Crossflowâ€™s revenue is driven by its free connectivity, a competitive transactional connectivity offering â€“ and of course the uptake by suppliers of finance. Weâ€™re very enthusiastic about Crossflowâ€™s prospects in the market â€“ in the UK and beyond. Spend Matters PRO members can read why in the full text of our analysis.