As we know, the process of collections in cannabis has been far from easy to manage. While some industries have the advantage of credit laws and other legislation on their side to help suppliers get paid on-time, we’re unfortunately not there - at least, not there yet. In this challenging market, brands are met with the reality of collections, which is why Nabis remains steadfastly focused on creating better, more flexible payment solutions for our robust ecosystem of partners.
Nabis BillPay, our latest collections-based tool, provides the easiest way for dispensaries to make payments. Not only is BillPay flexible enough to help empower retail teams to make payments on any invoice at any time, but it grants Nabis brand partners the ability to manage their AR more effectively.
How BillPay Works
How does BillPay differ from other payment methods within the Nabis ecosystem? The answer is flexibility—BillPay doesn’t require retailers to login to their Nabis Portal or to even have a Nabis account. Anyone can make payments on an invoice as long as they navigate to the BillPay portal via mobile device or desktop and input the correct invoice number and banking information. BillPay makes it incredibly easy to pay on-the-go and aims to empower retail teams through its anywhere, anytime accessibility.
Aiding in AR Management
If a brand requires a retailer to provide payment for a previous invoice prior to an upcoming delivery, they can utilize the “Must pay previous overdue balance prior to delivery” toggle on the new order form within their Nabis Portal. If payment isn’t provided ahead of that expected delivery date, then the upcoming order will be canceled within our system. BillPay serves as a great, communicative touch-point for brands in this case. Any brand representative or administrator can forward along a ‘Must pay previous balance’ reminder with the BillPay link to any member from the retailer team in order to ensure their upcoming delivery runs smoothly.
Streamlined Cash Flow For The Supply Chain
By simplifying payment processes and prioritizing convenience, Nabis BillPay provides a valuable service that helps a robust ecosystem of partners manage their account receivables more effectively. Whether used for on-the-fly retailer payments or to provide brands with an additional touch-point for their accounts, BillPay's accessible and user-friendly design makes it a key asset to help improve collections processes.