40Seas and JingSourcing: Empowering Global Trade Together

Author: Owen Jenkins Updated: 09-20-2024 08:54 AM

40Seas and JingSourcing: Empowering Global Trade Together

40Seas, the leading platform designed to finance, manage, and automate accounts receivable in global trade, has forged a notable partnership with JingSourcing, a top sourcing agency based in China. This collaboration is poised to revolutionize how companies handle sourcing and payments, driving efficiency and transparency for businesses engaged in international transactions.

Introducing the Powerful Partnership

What 40Seas Brings to the Table

The introduction of JingSourcing as a partner allows it to utilize 40Seas' innovative Global Accounts Receivable platform. This state-of-the-art tool centralizes invoice data into a user-friendly dashboard. Companies can now enhance their offerings to customers with a variety of payment options, enabling transactions across different currencies and integrating the 40Seas' Order-Now-Pay-Later (BNPL) solution to extend payment terms.

Advantages for JingSourcing

With this integration, JingSourcing can effortlessly monitor payment statuses, manage due dates, and speed up invoice approvals, thereby neutralizing the threat of delayed payments. This tool has already aided thousands of sellers in maintaining secure import processes globally.

The Commitment to Transparent Sourcing

JingSourcing is gaining ground in the digital transformation of sourcing, aiming to create a transparent bridge between sellers and suppliers. This streamlined approach fosters trust and ensures that international transactions are executed seamlessly, further enhancing business relationships.

This milestone in 40Seas' growth underscores its mission to digitize essential elements of B2B global trade. JingSourcing now joins a growing list of businesses utilizing the 40Seas AR platform, including shipping giants and e-commerce fulfillment services.

Streamlined Processes with Enhanced Payment Options

By integrating their existing ERP or accounting software with 40Seas' Accounts Receivable platform, companies enjoy a smoother, more efficient reconciliation process. Invoices can be matched in real-time with purchase orders and delivery receipts, facilitating timely payments through various methods such as credit cards, direct debits, and digital wire transfers. This capability is especially beneficial for firms engaged in global trade.

Moreover, 40Seas empowers businesses to extend payment terms of up to 90 days without assuming credit risk. Companies can thus concentrate on increasing sales volume rather than on debt collection or payment underwriting. The platform is accessible as both an API and a stand-alone solution, easily integrated into checkout systems to enhance customer convenience.

Recent Growth and Future Plans

The launch of the 40Seas Accounts Receivable platform marks a significant progress in the company's trajectory. They recently announced a remarkable funding raise of $117 million, which notably includes a substantial credit facility. With headquarters situated in New York and additional offices globally, 40Seas benefits from the valuable insights of its founders, who possess over 60 years of combined industry experience in cross-border payments, logistics, and trade financing.

Co-founder and CEO of 40Seas, Eyal Moldovan, highlighted the partnership's impact, stating that the AI-driven invoice management system would simplify the import process for JingSourcing and its clientele. He anticipates a fruitful collaboration aimed at enhancing customer service across the globe.

From JingSourcing, founder Jing Zhu expressed excitement over their partnership, noting that the integration with 40Seas will expedite their journey towards digital transformation, providing superior payment solutions and increased value to their clients.

About the Companies

40Seas Overview

40Seas stands as a robust accounts receivable management platform tailored for enterprises engaging in global commerce. Its end-to-end solution utilizes advanced AI and data-driven technologies to enhance workflows and provide essential cross-border payment options.

About JingSourcing

JingSourcing is renowned for its comprehensive approach to the sourcing process. As a leading sourcing agent from China, it has successfully assisted numerous sellers worldwide in product importation with its exceptional service standards and dedicated team.

Frequently Asked Questions

What is the primary goal of the partnership between 40Seas and JingSourcing?

The partnership aims to enhance transparency and efficiency in sourcing and payment processes for global trade.

How does 40Seas benefit companies engaged in international transactions?

40Seas provides tools for invoice management, allowing companies to handle payments efficiently and securely.

What innovative features does the 40Seas platform offer?

The platform provides an AI-driven dashboard, multi-currency payment options, and extended payment terms.

Who else is using the 40Seas Accounts Receivable platform?

Aside from JingSourcing, the platform is utilized by global shipping companies and e-commerce services.

What is the significance of this partnership for the future of global sourcing?

This partnership reflects a shift towards digital transformation in sourcing, ensuring improved service and trust between suppliers and sellers.

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40Seas and JingSourcing: Empowering Global Trade Together