Interview with Jorrit Gommans about faster payments
From January 1, 2024, partners will be paid twice a month instead of once. This new payment schedule was developed based on discussions bol had with partners, where they indicated a need to be paid more frequently. Paying them twice a month creates more flexibility in partners' cash flow, allowing them to reinvest in their business and grow faster. Partner Proposition Strategist Jorrit Gommans was involved in the development from the start and shares more about it in this interview.
How did this payment model come about?
“Every period, we talk to partners about their collaboration with bol. This way, we hear firsthand how we can improve our platform. The payment process was also discussed. Many partners indicated that it would be very beneficial if they were paid more often by bol. We started investigating these wishes. And we quickly concluded: partners want to grow, and this will help them achieve that. That's why we started developing this option.”
How will faster payments help partners grow?
“We ran a pilot where we paid a group of about 2200 partners twice a month instead of once. During the pilot, we compared this test group with a group of partners who were paid once a month. The results showed a significant difference in sales growth between these two groups. The group that was paid twice experienced more growth than the group that was paid once, and they were also more satisfied. That combination was enough reason for us to further develop this payment option.”
How can partners make optimal use of this opportunity?
“That difference in sales growth can be attributed to the flexibility this payment option creates. This way, partners can invest in their business more quickly in between payments. For example, it happens that partners run out of stock, but they have to wait for payment to order new stock. By receiving faster payments, partners get the chance to invest more quickly in new stock or new items in their product range, helping them grow faster!”
Partners choose the payment model that best suits them, to become even more successful on our platform.
Who is faster payments for?
“For everyone! Partners choose whether they want to be paid once or twice. What's more, they can adjust it quarterly. For example, if you prefer to be paid twice a month in Q4, during the holidays, and once a month for the rest of the year, that's possible. We also see that this functionality is highly desirable for some partners, and less so for others. A partner can now choose the payment model that best suits them, to become even more successful on the bol platform. Good to know: existing partners can indicate their preference until December 31st in their seller account. If they don't indicate a preference, they will continue to be paid once. Partners joining bol from January onwards will automatically receive payments twice a month.”
The payment model
Want to know how this works and how to adjust it? We explain it for you on this page.
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