How to Increase Instant Decision and Instant Purchase

How to increase instant decision and instant purchase percentage?

The first step is to make sure there are no rejected or disputed invoices within the needs attention widget. Ensure that there is a positive cash reserve balance and that the debtor on the submission is also in good standing. A good way to check this is to do a credit search and checking their credit limit.

In this demonstration, this is the example customer.

When their credit limit is checked, it demonstrates they're approved and shows their credit limit. This is a good candidate.

Next, on the Submit Invoice page is an example of an invoice that falls under the Instantly Purchased category.

If there are any first use customers or new customers, they may not be eligible for instant purchasing.

It's important to use clearly legible documents that are typed correctly, including a rate confirmation and bill of lading. If an invoice isn't created, an invoice document is required. As seen here.

There are no warnings for eligibility. Therefore, there are no issues with instant decisioning and instant purchasing.

From here, click Finish, then click choose Funding method, if ACH check or wire are being used.

The same day submission deadline and the last submission of the day features are very important. Submitting before the submission deadline is important in order to be approved or funded.

For most clients, the same day submission deadline is typically at 12:00 PM Central time.

Invoices that pass instant decisioning can be funded within minutes, 24/7 if Load Pay is selected as the funding method. Invoices that don't pass will undergo manual review, be subject to review cut off times, and be processed within normal business hours and bank holidays. These can be funded the same day of purchase before review cut off times or the next business day.

If it's after the review cut off Now, Select Load Pay. Skip any funding instructions since that requires a manual review.

Click Review Invoice Submission.

Confirm the funding method, agree to the terms of agreement and submit the invoice. A modal pops up stating that the system is checking our invoice details and our invoice documents for instant decisioning and instant purchasing.

After submitting, if instantly approved, the transaction confirm page appears where the submission ID and information are shown.

Here are some helpful links to use if you have any questions.

Invoice statuses.

The invoice list or general inquiries for the team, once instantly approved, it shows it's been instantly funded and nothing else is required. If there are any additional questions, please contact customer support.