Do you have a passion for sales, do you want to earn extra income while you go about your regular job?

Bridger is providing a platform for freelance field sales officers to earn extra cash.

Bridger is a pan-African fintech company currently operating in Nigeria and expanding to other markets this year. We're reinventing the payments experience for businesses by making it free to open accounts, create and send professional invoices, and access financing for your business.

Bridger connects Businesses and automates their trade process


Job Description

We are looking for Field Sales Agent responsible for selling Bridger's products and services; meeting new customer needs while obtaining orders from both potential and existing agents and merchants.

The business developers will generate leads, meet and exceed sales goals; establish, develop, and maintain positive business and customer relationships.

Major Responsibilities

Your major responsibilities are:

Acquiring strategic, high-profile merchants, agents, and users.
Focus on building and maintaining successful long-term relationships with these strategic merchants, agents, and users.
Planning and overseeing new initiatives on Winning and Managing merchants, agents, and users.
Maintain professional and technical knowledge and help build Bridger's presence by establishing personal networks and utilizing existing networks and relationships to build a new merchant base
Conduct research to identify new markets and customer needs
Gather useful information from customer and competitor data
Research potential leads in our target vertical and follow up with those leads via phone, and in-person meetings to bring them into our merchant list.
To ensure success as a business developer, you must be resilient, have a flair for sales, be patient, and have excellent communication, negotiation, and active listening skills.
Communicating with and informing existing clients in a way that supports an ongoing relationship.
Willing to resume immediately.
Achieving targets (KPI) set by the Company
Every other detail will be assigned by the Line Manager.


Job Requirements
Minimum of SSCE
0 – 1 year experience working as a sales agent/business developer/field sales officer.
Excellent negotiating skills.
Good written and verbal communication skills.
Patience and resilience


Salary
Very attractive commission on sales. Earn up to 250,000 monthly.


Deadline: 30th June 2023.


How to Apply
Interested and qualified candidates should send their CV to: recruitment@bridger.africa using the Field Sales Agent as the subject of the mail.


Features of Bridger App
The Bridger app is one app for all Business services. Here are some things businesses can do on the Bridger App.
1.Create Invoices: You can create Invoices for your buyers on the Bridger app.
2.Business Account: If you manage a business, you should get a business account...and you can get it free on the Bridger app, supported by our banking partner.
3.Transfer Money: you can transfer money to other Bridger users or a bank account and also receive money from a bank account or other Bridger account to your account.
4.Payment reminders: this is a new service that will enable you automatically remind your debtors to pay you. This improves your chances of getting paid.
5.Get a quick loan: using the Bridger service, You can get access to short-term loans for your Invoices, Purchase orders and to run your business.
6.List your products and services: Bridger connects you to other businesses that need your services. It helps you advertise and promote your business. Giving you access to new business.

How to Apply
Interested and qualified candidates should send their CV to: recruitment@bridger.africa using the Field Sales Agent as the subject of the mail.

Deleted

Deleted

Our previous company built an automated supply-chain product for banks in Nigeria, You have likely used what we built. Although it was long-work hours building this, it was enough to distill all the learning of how supply-chain work between Buyers and Suppliers, as regards Payments, Collaboration tools and Financing

There, the software was built to handle thousands of Invoices and finance origination daily. But most Invoices were - and still are, in a lot of companies - Paper-based and taken in person to the buyers. making it extremely difficult to manage Invoices and collect payments.

Fast-forward to March 2023, We launched our startup. www.bridger.africa
‍
Bridger offers paperless, cloud-based invoicing software. Companies are able to digitally send invoices and collect payment through it, expediting the whole payment process.

But we built Bridger with a bigger problem in mind: boosting cash flow cycles.

Companies usually pay suppliers in 30-, 60-, and 90-day cycles. This inevitably slows down the cash collection period, and smaller companies suffer — and often go bankrupt — because cash is not immediately available.

A survey among more than 500 small and medium-sized businesses in SA (and similar across Africa) found that 91% are impacted by their invoices being paid late due to a growing culture of late payments.

The average overdue invoice is paid about 18 days late, according to The State of Late Payments report by global small business platform Xero. This, in turn, has a big impact on a business's ability to pay its own staff and suppliers. [url]https://www.xero.com/blog/2019/11/tackling-south-africas-late-payments-culture/
[/url]


Buyers usually delay payments because they want more cash in hand to spend on more immediate needs, like R&grin or dividend payouts. Because of this delay, suppliers often take out bank loans to sustain their business, which adds cost.

Late payments aren’t just a nuisance. They’re often the root cause of negative cash flow, which means companies can’t hire new staff, invest in new business, or pay the bills that keep the lights on. This ripple effect also impacts a firm’s credit score, making it harder to raise funds.


Closing the door on late payments
‍
To solve this late-payment culture, Bridger offers services that encourage companies to pay faster while Benefitting both parties. Bridger gives buyers and suppliers options

Invoice financing https://www.bridger.africa/blog/invoice-financing-never-turn-down-a-po-again allows suppliers to sell their receivables for a discount instantly in exchange for cash.

One option is Dynamic Discounting , where companies can offer discounts to clients who pay early. Basically, the earlier the buyer agrees to pay, the less money is owed.

Another is called Supply Chain Financing. With this, a third-party (Bridger does this really well) would pay the supplier immediately, at a low-interest rate, and the buyer (who owes the money) would pay back instead in 60 days or more. This benefits both sides of the deal because the supplier gets the cash immediately and the supplier gets to delay the payment.


Although other companies offer similar services, Bridger is free for all suppliers, free e-invoicing capabilities, Business banking service and access to B2B payments solutions, and Invoice/purchase order financing.

100s of businesses have signed up and have gotten improved business processes, cash flow and business growth. We are proud to be part of their journey towards building successful businesses and optimal cash-flow cycles.


If you or someone you know runs a B2B business (business selling/buying from businesses), we encourage you to sign up for www.bridger.africa and start your journey towards less work, faster cash flow, and more revenues.. Let's help you grow

Our previous company built automated supply-chain product for banks in Nigeria, You have likely used what we built. Although it was long-work hours building this, it was enough to distill all the learning of how supply-chain work between Buyers and Suppliers, as regards Payments, Collaboration tools and Financing

There, the software was built to handle thousands of Invoices and finance origination daily. But most Invoices were - and still are, in a lot of companies - Paper-based and taken in person to the buyers. making it extremely difficult to manage Invoices and collect payments.

Fast-forward to March 2023, We launched our startup. www.bridger.africa
‍
Bridger offers paperless, cloud-based invoicing software. Companies are able to digitally send invoices and collect payment through it, expediting the whole payment process.

But we built Bridger with a bigger problem in mind: boosting cash flow cycles.

Companies usually pay suppliers in 30-, 60-, and 90-day cycles. This inevitably slows down the cash collection period, and smaller companies suffer — and often go bankrupt — because cash is not immediately available.

A survey among more than 500 small and medium-sized businesses in SA (and similar across Africa) found that 91% are impacted by their invoices being paid late due to a growing culture of late payments.

The average overdue invoice is paid about 18 days late, according to The State of Late Payments report by global small business platform Xero. This, in turn, has a big impact on a business's ability to pay its own staff and suppliers. Linkhttps://www.xero.com/blog/2019/11/tackling-south-africas-late-payments-culture/



Buyers usually delay payments because they want more cash in hand to spend on more immediate needs, like R& or dividend payouts. Because of this delay, suppliers often take out bank loans to sustain their business, which adds cost.

Late payments aren’t just a nuisance. They’re often the root cause of negative cash flow, which means companies can’t hire new staff, invest in new business, or pay the bills that keep the lights on. This ripple effect also impacts a firm’s credit score, making it harder to raise funds.


Closing the door on late payments
‍
To solve this late-payment culture, Bridger offers services that encourage companies to pay faster while Benefitting both parties. Bridger gives buyers and suppliers options

Invoice financing https://www.bridger.africa/blog/invoice-financing-never-turn-down-a-po-again allows suppliers to sell their receivables for a discount instantly in exchange for cash.

One option is Dynamic Discounting , where companies can offer discounts to clients who pay early. Basically, the earlier the buyer agrees to pay, the less money is owed.

Another is called Supply Chain Financing. With this, a third-party (Bridger does this really well) would pay the supplier immediately, at a low-interest rate, and the buyer (who owes the money) would pay back instead in 60 days or more. This benefits both sides of the deal because the supplier gets the cash immediately and the supplier gets to delay the payment.


Although other companies offer similar services, Bridger is free for all suppliers, free e-invoicing capabilities, Business banking service and access to B2B payments solutions, and Invoice/purchase order financing.

100s of businesses have signed up and have gotten improved business processes, cash flow and business growth. We are proud to be part of their journey towards building successful businesses and optimal cash-flow cycles.


If you or someone you know runs a B2B business (business selling/buying from businesses), we encourage you to sign up for www.bridger.africa and start your journey towards less work, faster cash flow, and more revenues.. Let's help you grow

How to get your invoice payments paid on time as a Nigerian business


Learn how to tackle unpaid invoices effectively with our comprehensive guide.


Did you know that the average Nigerian business has to wait almost two weeks past the due date for an invoice to be paid? In most B2B transactions in Nigeria, there is always the possibility that certain clients will not pay their bills on time, and as a business owner..

Late payments and unpaid invoices can cause serious cash flow problems and lead to a strained relationship with your clients. In this article, we will explore some effective ways to eliminate unpaid invoices and strengthen your client relationships and visit some measures to ensure you get paid before the due date.


Understanding the Causes of Unpaid Invoices

Before we delve into the solutions for unpaid invoices, it’s important to understand what causes them. Here are some of the common reasons why businesses may fail to pay their invoices:
‍

Poor communication with clients
If you’re not communicating regularly with your businesses, they may not have a clear understanding of what you’re invoicing them for. This could lead to confusion and misunderstandings. Establish smooth channels of communication and be available to answer any questions they may have about their invoice.
Also, make sure you provide sufficient details about the services and products you've provided, so your buyers know exactly what they are being charged for...also send regular updates on the work you've done for them and ask about their progress.
‍

Inaccurate or incomplete invoicing
If your invoices are inaccurate or incomplete, businesses may be confused or hesitant to pay. Double-check that all the necessary information, such as payment terms and billing address, is included in the invoice. If you’re using e-invoicing software to generate your invoices, ensure that the details are correct and up-to-date.
You may also want to consider including a detailed breakdown of the services and products provided, along with their corresponding costs, to make it easier for buyers to understand what they’re paying for.
‍

Lack of payment follow-up
As the saying goes, “The squeaky wheel gets the grease”. If you’re not following up with buyers who haven’t paid their invoices, they may not feel the urgency to do so. Establish a clear follow-up process and communicate it to your clients so they know what to expect. Use Bridger automated Invoice reminders to follow up, softly.

Consider automated payment reminders to make the process more efficient. In addition, you may want to consider offering incentives for early payment or penalties for late payment to encourage clients to pay on time.

Another common reason for unpaid invoices is financial difficulties on the part of the buyers. In some cases, buyers may be experiencing cash flow problems or other financial issues that prevent them from paying their invoices. In these situations, it’s important to approach the situation with empathy and understanding. Consider offering payment plans or alternative payment options to help the client meet their financial obligations.

It’s also important to ensure that your invoices are clear and easy to read. Use a simple, easy-to-read font and format the invoice in a way that makes it easy to understand. Avoid using jargon or technical language that may be confusing to clients. In addition, make sure that the invoice is well-organized and includes all the necessary information, such as the date of the invoice, the due date, and the total amount due.

Finally, it’s important to maintain a positive relationship with your clients. If you’re constantly hounding them for payment, it can put a strain on the relationship and may make it more difficult to do business in the future. Instead, focus on building a strong, positive relationship with your clients based on trust and mutual respect. This will help to ensure that they are more likely to pay their invoices on time and will continue to do business with you in the future.


How to Effectively Eliminate Unpaid Invoices

Implementing an Efficient Invoicing System
To reduce unpaid invoices, it’s essential to have an efficient invoicing system in place. Here are some tips to help you establish one:

Make use of the available software and the benefits of automation
Effective credit control rides a difficult line between being instrumental in ensuring prompt payment, and, therefore, adequate liquidity, and being time and effort intensive for already stretched resources.
This is where credit control software can be a lifesaver, by automating and streamlining many of the tasks that would traditionally fall to someone within the accounts department.
When choosing invoicing software, consider features like automatic payment reminders, customizable invoice templates, and integration with your accounting software. These features can save you time and make your invoicing process more efficient.
Overall, automating your credit control process can save you time and effort, while also freeing up resources within your business so that you can focus on other areas.
Bridger does these for your business, so you can be sure of a smooth transition.
Of course, it’s important to choose the right software for your needs and to make sure that it integrates seamlessly with your existing systems.‍


Use early payment discounts to get invoices paid faster

Early payment discounts are a great way to encourage customers to pay their invoices before the due date.
By offering a discount for early payment, you’re effectively giving your customers an incentive to pay their invoices sooner rather than later.
Of course, this won’t work in every case – some customers will still pay late, regardless of the discount.
But offering an early payment discount can be a helpful way to encourage prompt payment from the majority of your customers.
You could offer a small discount (eg: 0.25% or 2%) for payments made within seven days of the invoice date, or a larger discount (eg: 0.50% or even up to two percent) for payments made within three days of the invoice date.
While early payment discounts work well in isolation, they work particularly well when combined with late payment charges. In essence, you’re offering your customers a ‘rebate’ for paying on time, and a ‘penalty’ for paying late.
This sends a strong message that you expect to be paid promptly and there will be consequences if payment isn't received within a certain timeframe.

‍
Establishing clear payment terms

Be clear about the terms of payment right from the start. Make sure you and your clients have clarity on when and how payment should be made. Offering incentives for early payment, or fees for late payment, can also encourage prompt payment.
Consider sending payment reminders a few days before payment is due to ensure that your clients don't forget. You can also send a follow-up email a few days after payment is due if you haven't received payment yet.
Additionally, consider offering payment plans for larger invoices. This can make it easier for your clients to pay and reduce the risk of unpaid invoices.
‍

Give your customers the widest payment options

The best way to get paid is to make it as easy as possible for your customers to pay you. This means giving them multiple payment options and being flexible on when they can pay you.
If you only accept bank transfer payments, you're excluding a whole group of potential customers who may not have a bank account or who prefer to use other methods such as debit card or cheques. By offering multiple payment options, you'll increase your chances of getting paid on time.
Bridger payment portals offer a range of payment options, including bank transfer, credit card, and debit card. All your customer's payment details are collected together in one place, so you can keep track of who has paid and chase up any late payments.


Providing Excellent Customer Service

Deliver high-quality service and show your clients that their satisfaction is your top priority. Providing excellent customer service can help you build a loyal client base that is more likely to pay promptly and recommend your services to others. It is important to go above and beyond your client's expectations by providing personalized service, offering solutions to their problems, and being proactive in addressing their needs. This can be achieved by paying attention to the little details, such as providing a comfortable and welcoming environment for meetings and sending personalized thank-you notes.
Remember, happy clients are the key to a successful business.


Send your payment reminders in advance

Traditionally, payment reminders are sent after the payment is due. But you can increase your chances of getting paid on time by sending reminders in advance.
You can set up automatic payment reminders so your customers know when a payment is coming up and can plan accordingly. This way, they're less likely to forget to pay you and you'll be more likely to get paid on time.
Letting your customer know in advance that a payment is coming up will also give them time to get in touch with you if there are any issues with making the payment. This way, you can work out a solution before the payment is due and avoid any late payments.
Not only does advance warning let them get all their ducks in a row, but it helps prevent bill shock. Bill shock is when a customer is surprised by how much they owe, and it can often lead to them not paying the bill at all.
If you give your customers a heads-up about upcoming payments, they can budget for it and won't be caught off guard. This will help you get paid on time and avoid any late payments.
For maximum efficiency, you can also automate your payment reminders. This way, you can set it and forget it, and you'll never have to worry about late payments again.
With Bridger, you're able to set up advance payment notices in intervals such as 7, or 14 days before the invoice is due. This gives your customers a heads-up that their payment is due soon and they can budget for it accordingly.


Get paid on time, every time
By making use of automated payment reminders, Invoice financing and debt recovery from www.bridger.africa, you can rest assured that you'll get paid on time, every time. This way, you can focus on running your business and leave the payment chasing to us.

‍
If you are a small business owner in Nigeria with a purchase order and considering financing, or if you are just trying to learn more about purchase order financing while researching many different options for getting additional funds for your small business, you’re in the right place.

In this guide, we cover everything we’ve ever wondered or been asked about purchase order financing, and then some. Read on to learn:



What is purchase order financing?


Purchase order financing is a short-term financing method that businesses can use to cover the cost of manufacturing or purchasing goods that have to customers via a purchase order.

When a customer has agreed to buy a certain quantity of something from a supplier at a certain price point, they usually send over what’s called a purchase order. If you’re a small business owner and you receive a purchase order and agree to the terms on it, that purchase order document becomes a legally binding contract between the two parties: you and the buyer.

Sellers send out invoices to their customers, and buyers send out purchase orders to their suppliers.

While it’s amazing when your business gets a large purchase order, not every company has the liquid cash to fill the order, the last thing you want is to turn down the offer.

It's just not a good experience, we have all been there.


What is Purchase Order Financing?
A purchase order, or, “PO financing” is an arrangement where a third party agrees to give a supplier enough money to fund a customer’s purchase order.

In some cases, purchase order loans will finance an entire order while in other cases they may only finance a portion of it. When the supplier is ready to ship the order, the purchase order financing company collects payment directly from the customer. After subtracting their fees, the company then sends the balance of the invoice to your business.

Suppliers would probably prefer it if they never had to worry about financing large purchase orders. Unfortunately, that’s not always the case. The good news is that by using PO loans to fund purchase orders, suppliers can fulfill their customers’ needs while continuing to grow their operations.

Startups like Bridger, are willing to fund suppliers even if they have less-than-ideal credit scores.

What matters more is the creditworthiness of the business than sending the purchase orders, and if you are a small business in Nigeria, PO financing may be just the solution you need.



Who Uses Purchase Order Financing?
If you find that you need to purchase items from suppliers before fulfilling a customer order, then purchase order financing might be a good option for you. Typically, the types of businesses that might use PO financing include:

Distributors
B2B businesses
Outsourcers
Resellers
Wholesalers
Businesses with heavily seasonal sales patterns
Businesses with tight cash flow and a need to purchase materials before fulfilling orders

How Does Purchase Order Financing Work?
Let’s say a customer places a large order. After checking with your supplier, you realize you don’t have enough cash on hand to fulfill the order. You review your options and ultimately decide to give purchase order financing a try.

Here’s what happens next:

You reach out to the PO financing lender, sending along the purchase order itself and your supplier’s estimate.
Assuming a provider approves you for financing, the provider pays your supplier and your order gets filled.
The supplier sends the products to the customer.
You then invoice your customer for the goods.
The customer sends their payment directly to the financing company.
After deducting their fees—which can be as high as 4% each month—the financing company sends you the remaining balance.


How to Apply and Qualify for Purchase Order Financing
Applying for purchase order financing using a stable reliable platform can be smooth. After doing your due diligence and finding the provider you’d like to partner with, you’ll generally have to submit several documents, including:

The purchase order from your customers
Your supplier’s invoice to you
Your invoice to your customer
Your purchase order to your supplier
Business Information
Legal information (e.g., any pending lawsuits?)
Financial statements (e.g., P&L statements and balance sheet)
Different lenders have different criteria for approval. On average, however, companies that qualify for purchase order financing usually tend to have the following traits in common:

The company (borrower) doesn’t make the products it sells. Instead, it just resells products from the supplier, adding its packaging and labeling.
The customer involved in the deal needs to be creditworthy. PO financing lenders will conduct a detailed credit check on your customers to determine their creditworthiness. Some lenders will do a business credit check on your customers. Others will not, but they will still look for things such as whether the customer has a record of timely payments, bankruptcies, or litigation.
The supplier needs to be reputable with a track record of delivering orders on time, made to customer specifications.
The transaction needs to be non-cancelable.
The borrower needs to have a good reputation and be in good financial standing.
Assuming your small business meets the above criteria, you may find that purchase order financing is just what you need to get to the next level.



Pros and Cons of Purchase Order Financing
Some Pros of Purchase order financing.


Helps you fulfil large buyer orders
Helps young and established businesses.
Easy to qualify for.
Support different parties in the supply-chain process


Some Cons of Purchase order financing.
You will have to let go of some percentage of your profits.
Your ability to get this financing might be affected by the creditworthiness of your buyer

Some other options to Purchase Order Financing in Nigeria.


There are other financing vehicles you can use for your business, see some of the common ones below.



Invoice Financing is a form of small business funding where companies borrow against their outstanding invoices instead of selling them to a factor. Companies that go this route can partner with a lender like Bridger and choose which invoices they’d like to advance payment on, up to the approved credit limit, whenever they need cash. Once they’ve chosen which invoices to clear, they can get the full amount of each invoice in as fast as one business day. They then have a predetermined amount of time to repay the advance, plus a flat fee. Unlike factoring, invoice financing enables you to overcome cash gaps without your customers becoming aware of your financial situation because they continue paying you directly.



Traditional Term Loans are also very viable for small businesses.

However, fewer and fewer banks are funding a small businesses. Data says Nigerian banks only sign off on one out of six small business loans that come their way. Most of them prefer to lend to larger organizations that have spectacular finances and perfect credit scores. Still, some banks will fund the right small businesses. It will take a lot of time to apply and, if you’re approved, you may have to wait several weeks or months for the money to finally come your way.



Loans From Non-Bank Lenders have emerged in recent years as a vehicle to finance the small businesses banks have forgotten. While it’s easy to qualify for these kinds of loans and the application process isn’t cumbersome, they often come with substantially high-interest rates.



Outside Investors can also help. You have to be willing to let go of ownership of decisions and profits. The right investor and you’ll benefit from someone who knows what they’re doing and has a lot of connections that can help your business grow.



Are you looking for ways to get funding for your small business? Do you need to purchase order financing or Invoice financing to help you manage your cash flow issues, or grow faster? If you do, you have come to the right place. We're here to help.



Sign up on [url]ww.bridger.africa[/url] today so you can conquer any cash flow problems your small business may face tomorrow.

‍

Are you a supplier that sells to another business? In any of this industries, Agric, Construction, Manufacturing....

You are doing amazing tbh but I know some of your business pain points and want to offer a solution.

When I started my first business, my biggest challenge was how do I manage the delay between when I invoice my buyers and when I collect payments...Would typically have to wait for 15 -90 days between when I deliver my goods and when I get payments.

I'm curious to know, which process do you have in place to get instant access to your cash immediately after you do your delivery?

We figured out how to give businesses instant access to cash to grow their business with zero collateral (Our first 100 business customers increased their growth from 33% to 78% in no time).

And this is precisely where you and I come in… I'd be happy to talk with you about www.bridger.africa, We give you free instant Business accounts, access to new customers, the ability to create/send Invoices and get instant financing for your invoices, and give you access to financing to get supplies...


P.S. Here's a short article on all you need to know about Purchase order financing order so you know all information about Purchase order financing. Take a look! https://www.bridger.africa/blog/purchase-order-financing-guide-in-nigeria

How has Bridger disrupted the B2B trade industry

The B2B trade industry has traditionally been known for its cumbersome and time-consuming processes involving paperwork, manual reconciliation, and delayed payments. However, with the advent of financial technology (fintech), the B2B trade industry is and still undergoing a significant transformation. Fintech companies are leveraging technological advancements to streamline and automate various aspects of B2B trade, making it more efficient, transparent, and cost-effective. Want to learn more about how FinTech is disrupting the B2B trade industry? Keep reading while we explore the disruption in the B2B trade industry.

‍

‍

The Dawn Of FinTech— The Beginning, The Middle, and The Metaverse
‍

Financial Technology which is commonly known as Fintech, refers to the use of technology to deliver financial products and services, transforming the B2B trade industry in various ways. Before the development of FinTech, the Trade industry has been tagged for their lack of access to services, especially in rural areas, issues of affordability, and poor user experience all contribute to the frustration consumers experience right across the customer spectrum.

‍

In recent times, there has been a drastic improvement in the buyer/seller relationship due to the advent of the digital age. Companies should focus more on using more digital and collaborative tools as these digital tools help streamline communication, facilitate processes, and enhance collaboration, making it easier for businesses to achieve their goals.

‍

This has created an opening that fintech has been quick to take advantage of, with many stepping up to develop solutions that can improve the process. Ever since, the establishment of the Fintech Association of Nigeria—a self-regulatory, not-for-profit, and non-political organization was incorporated to regulate companies in the FinTech business. There has been notable growth in Nigeria's Fintech Industry. In 2020, the Central Bank Of Nigeria (CBN) initiated Payment System Vision 2020 (PSV 2020) to fast-track the development of fintech in the country.

‍

One Chain Man vs Supply Chain Finance
‍

Supply chain finance, which involves optimising the flow of funds along the supply chain, is a critical aspect of B2B trade. Fintech companies are using technologies like blockchain, the Internet of Things (IoT), and data analytics to enhance supply chain finance and reduce risks. Bridger has been enhancing supply chain finance payment since 2021— you can use our extended payments feature which allows you to make transfers to the bank account of your customers now and repay later. With this feature, you can make urgent and fast payments to your customers without disrupting your cash flow.


Disruption Or Simply Pure Chaos
‍

Automating Payment Processing is revolutionising the way businesses conduct B2B trade in Africa, bringing efficiency, transparency, and cost-effectiveness to a traditionally complex and time-consuming process. With technologies such as payment gateways, digital wallets, and real-time payment systems, businesses can streamline their payment processes, making them more seamless and hassle-free.

‍

On January 9th, 2023, the Central Bank Of Nigeria declared a cashless policy that disrupted the whole economy’s fiscal system which showed that while the Nigerian Fintech Industry is booming are not fully ready to take over the reins and move us to a cashless and automated economy.

‍

Payment gateways are to act as a reliable online platform that securely transfers funds between parties, integrating various payment methods and providing features such as fraud detection and transaction tracking. Digital wallets offer virtual accounts that enable businesses to send and receive payments instantly, eliminating the need for physical checks or cash. Real-time payment systems ensure that funds are transferred in real time, reducing delays and improving cash flow.

‍
Hence, The advent of Fintech companies in Nigeria was supposed to ease the frustration and inconvenience for customers relying on these Fintech platforms for daily transactions. The impact of payment processing automation goes beyond just saving time and effort. It also improves the accuracy and transparency of payments, reducing errors, delays, and fraud risks but more financial technology companies keep arising without solving the existing problem but leading us into an endless loophole.

‍

If done right, payment processing automation could be a game-changer for businesses in Africa and could disrupt the whole system positively. It frees up employees from manual tasks, allowing them to focus on strategic activities that drive business growth. Issues like technical issues, Limited access to modern technology, and reliable internet connectivity in some regions can be a barrier to adoption. It's crucial to assess the availability and reliability of technology infrastructure before implementing automation solutions.

‍

B2B supply chain automation has the potential to catalyze a "leapfrog moment" for trade in Africa. Automation technologies, such as blockchain and artificial intelligence, can enhance competitiveness in global markets by improving cash flow, reducing transaction times, and enhancing customer satisfaction. With more efficient payment processing, businesses can build better relationships with partners and customers, leading to increased sales and improved competitiveness in the global trade landscape.

‍
H[b]ow has Bridger disrupted the B2B trade industry [/b]
‍

Now, if you are new here, you are probably wondering what is Bridger and what we do. Well, Bridger is the cloud-based supply chain platform that transforms the way B2B buyers and suppliers connect, transact and trade. Our mission is to bring Africa trade online. You can also read more about what we do here.

Contact us at www.bridger.africa

Micro, small, and medium enterprises (SMEs) are the backbone of the economy. However, cash flow issues largely cause more than half to fail during their first five years in business, and it’s very obvious that many require a lifeline. But what exactly is the cause of these cash flow issues?

Ask any SME and they’re likely to blame late payments.


“Seventy-five percent of small businesses experienced delayed payment of at least 60 days after delivering product/services to private sector clients in Nigeria,” a PwC survey on MSMEs indicates.

Sometimes referred to as “the assassins of small businesses,” late payments cost SMEs as much as $3 trillion globally, with 1 in 10 invoices failing to be paid on time.

US and Nigerian company, Bridger, launched 4 months ago, to solve this particular challenge affecting African B2B businesses, and 72 mid-sized businesses have had their unpaid invoices financed so far.
Bridger enables MSMEs to finance their unpaid invoices for cash within 48 hours.

In Nigeria, finding working capital to sustain a business is challenging. The lack of funds, debt, and delayed transaction fulfillment between business owners and customers contribute to this trend.

While beneficial for larger corporations in terms of maximizing capital, these unreasonably long payment cycles cause an unnecessary and costly burden that is especially cogent for SMEs, who don’t have the additional funds lying around to support their business operations or pay their employees.

Add in the inflation and increasing prices, and businesses don’t have the luxury to wait months and months to receive their payment. So, what is the solution?
Invoice financing!!.

A dedicated low-interest invoice financing solution is an option that helps SMEs avoid cash-flow bottlenecks.

That’s to say that a large chunk of an SME’s working cash flow is locked up in invoices that may take up to 90 days to pay out. Bridger tackles that issue companies by financing 80-95 percent of the value of the invoice, within 24-48 hours.

Signing up for Bridger is equally simple: You go to the website and create an account, complete your profile. Then you can access a dashboard, and upload any of your invoices to receive funding.
You have options to choose which invoices you want to be financed and how much you need.
You – rather than your customer – repay Bridger. “Bridger is not a factoring company”.

Jeremiah Babasanmi, Bridger founder and CEO says “We do not purchase the invoice. We don’t go after your customers. We don’t require you to create a new bank account.”


About Bridger
Bridger is an African-founded startup whose mission is to bring B2B Trade Online. Our first product line is the Invoice financing product, solving the cash flow crisis for African businesses; Our goal is to help businesses grow by building a modern B2B supply chain network and digitizing trade.
Bridger was officially launched in 2022 and has currently financed about 120m Naira so far in Invoices.

Social Links
Website: www.bridger.africa
Twitter: https://twitter.com/Bridgerafrica
Facebook: https://facebook.com/Bridger
Instagram: https://www.instagram.com/bridgerafrica/