The new service ensures Cymbio’s customers get fast access to cash for their multichannel sales, and eliminates fin-ops overhead of drop ship and marketplace operations
Cymbio, the all-in-one digital sales growth platform for brands, announced today the launch of “Cymbio Finance,” automating payment collection, reconciliation, and streamlining cash flow for multichannel drop ship and marketplace sales, enabling brands to get paid instantly for the products they sell online. These new offerings are being released 6 months after PayPal invested in Cymbio.
Today, brands that engage in multi-channel sales with drop ship and marketplace retailers have to contend with long net terms (affecting their cash conversion cycle) as well as significant operational and administrative overhead, including tracking invoices and reconciliation. Additionally, accounts receivables teams must manually manage invoices and payment requests for each channel, as existing financing solutions are not built for multi-channel digital sales.
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Cymbio Finance is a fin-ops automation solution with a built-in financing service for brands, allowing them to get paid instantly for their drop ship and marketplace sales without having to add to their current operations. The service includes:
- Cash flow streamlining – Automated daily payouts for previous day’s sales
- Reconciliation – Automatically manage incoming payments, and match invoices to simplify the reconciliation process
- Retailer and marketplace payment collection handling
- Reporting and analytics, for planning and improved operations
Unlike traditional retail financing companies, Cymbio is first and foremost a digital sales growth platform, connecting brands to marketplaces and retailers, onboarding and listing their products, managing inventory, orders and billing and helping the brands grow their revenues. The launch of an automated financing option into the product mix further strengthens Cymbio’s ability to help brands grow their business. Cymbio is built to enable brands to connect, list and sell products across digital sales channels and now also finance brands’ growth across all retailers and marketplaces that they wish to sell on.
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“Cymbio’s mission is to power digital commerce growth for the world’s biggest and most innovative brands by enabling automated multi-channel commerce,” said Roy Avidor, Co-Founder and CEO of Cymbio. “With the launch of Cymbio Finance, we are offering our brand partners a growth spurt opportunity, which will create a flywheel effect for them, as their multi-channel sales will now have the same payment terms of DTC sales, allowing for continued growth. Our early adopters have shortened their cash cycle by an average of 32 days, which is significant, especially in today’s economy. Cymbio now offers a truly end-to-end solution for brands taking the multi-channel commerce approach.”
“Our goal is to help brands grow, with hassle-free drop ship and marketplace operations,” said Harel Karni, Product Lead at Cymbio. “Cymbio Finance solves multiple pain points in the financial flow and will allow brands to improve efficiency and liquidity, so they can put their money back to work faster.”