Nivoda could add an invoice financing facility to its offer in a bid to facilitate more business between buyers and suppliers trading diamonds through its B2B platform, Professional Jeweller can reveal.
The company has redefined the way diamonds are bought and sold since bursting onto the market last year, providing retailers with access to 500,000 certified diamonds from all over the world and the promise of fast delivery and lower shipping and banking fees.
Founder and CEO, David Sutton, said the business was constantly thinking about ways to take the platform forward – and that payments mechanisms were high on its agenda.
“We are now working towards being able to provide payments terms to buyers,” he explained. “This will be in the form of invoice financing. This set-up allows us to continue to provide suppliers with funds straight away, giving them the ability to reinvest into rough production faster and ensuring the lowest possible prices for our buyers.
“In the long run, we will continue to innovate according to what our customers request. Our vision is to provide them with a single operating system for global procurement.”
Despite the pandemic, Mr Sutton said the company’s vision remained the same: to make virtual buying better than buying physically.
“Our goal for next year is to really focus on providing a seamless service for all diamonds-related purchases. We have recently added Star & Melee and Lab Grown Diamonds to the offering, which have been extremely successful from day one.
“And we are encouraging suppliers to take part in our returns programme which allows companies to provide return policies to their customers without risk of getting stuck with unnecessary inventory.”
The full interview with Nivoda founder David Sutton can be seen in the latest issue of Professional Jeweller, available as a digital edition HERE.
IMAGE CREDIT: Woolly Mammoth Media