Settle and Cin7 Partner Introduce First Embedded Vendor Payment Solution for CPG brands

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Mar 12, 2024, 09:00 ET

Pay with Settle allows Cin7 users to seamlessly trigger bill payments without leaving their workflow

SAN FRANCISCO, March 12, 2024 /PRNewswire/ -- Settle, the leading cash-flow management platform, and Cin7, provider of Connected Inventory Performance - cloud-based inventory management software, today announced their partnership to launch Pay with Settle, a revolutionary embedded vendor payment solution for Cin7 Core users with the simplicity of a button. This launch marks a significant milestone in simplifying financial transactions and driving stronger connectivity between systems for high-growth SMB consumer brands.

Pay with Settle integrates directly into Cin7 Core's platform, allowing users to initiate bill payments seamlessly within their existing workflows, marking the first B2B vendor payment solution embedded directly into an inventory management system. This integration provides easy linkage between tools for more advanced workflows, enabling over 1,200 Cin7 Core customers to utilize advanced functionality, including industry-leading AP automation tools like approval workflows, customizable user permissions, and split payments. Qualified businesses will also have access to Settle Working Capital, to help optimize their cash efficiency.

"We're thrilled to collaborate with Cin7 to bring Pay with Settle to market to help optimize inventory and cash efficiency to drive sustainable growth for product businesses. Among the various benefits, Cin7 Core users will also have access to Settle's best-in-class support team, boasting a 96% CSAT score," said Alek Koenig, CEO and founder of Settle. "Together, we're creating a hub for consumer brands' financial operations."

The Pay with Settle solution provides a streamlined method to send bill payments directly from Cin7 Core's purchasing workflows. Initially available to QuickBooks Online users, there are plans to expand access to Cin7 customers on other accounting platforms in the future. This integration not only saves time but also ensures the accuracy of financial records, addressing the needs of scaling consumer goods brands that rely on multiple tools for operational management.

"Our partnership with Settle improves automation in end-to-end AP workflows for Cin7 customers," said Arun Kumar, Global Director, Technology & Strategic Partnerships at Cin7, "By integrating with Settle, we eliminate the need for manual data entry, allow Cin7 users to seamlessly execute vendor payments, and save time and ensure accuracy. We are excited to partner with Settle to offer this joint value that underscores our commitment to fostering growth for our customers through ecosystem-driven solutions."

About Settle
Settle empowers growing CPG businesses by simplifying cash flow management through an integrated platform, enabling e-commerce brands to elevate their financial operations from inception to the next level of growth. Purpose-built for founders of hyper-growth e-commerce and consumer brands, Settle facilitates seamless vendor payments, three-way matching of purchase orders, invoice management, and, for eligible businesses, access to transparent short-term financing options with Settle Working Capital, so brands can Settle Now, Pay Later. Customers include industry-leading brands such as Italic, Branch, and Olipop. More at settle.com

About Cin7
Cin7 provides Connected Inventory Performance – cloud-based inventory management software that gives growing product businesses an automated and real-time view of the entire inventory lifecycle. Connected Inventory Performance is integration-first and ecosystem-ready – Cin7's products (Core and Omni) natively integrate with 700+ tools and applications. You can consolidate, streamline, automate, and scale your inventory operation from one place – to spend less time managing and more time growing the business – by selling in new channels and markets with minimal complexity. Connected Inventory Performance is the only inventory management solution that delivers Return on Inventory Management – quantifiable outcomes that truly drive your business. cin7.com

Media Contact
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SOURCE Settle