Overview
M1 NXT helps buyers reduce their working capital requirements by helping them extend their payment cycle. It also enables the buyers to negotiate better terms with the supplier while enjoying a more stable supplier base by facilitating their access to competitive financing.
For any participant to conduct business on the M1 NXT platform, formal registration and onboarding are a requirement. When a participant explicitly expresses interest in onboarding, M1 NXT will start the onboarding process for each participant.
The participant may do this using any of the following strategies:
Filling out our
Contact Us Form
Calling the M1 NXT customer service/contact numbers
Sending an email to the company's sales team's email address
The following easy steps make up the onboarding procedure:
The concerned participant is expected to provide all the information requested in the application, including that of the legal company, its authorised signatories, the financial statements, and pertinent documents to satisfy KYC standards, in order to facilitate onboarding. After Reviewing the Documents, the platform will then make the agreement available for signing.
The supplier/buyer will continue to follow the same procedures with regard to the flow of purchase orders from the buyer to the invoice, manufacturing and procurement processes, shipping of goods, and any physical flow of documents, including the bill of lading (B/L), regulatory reporting, and applicable and reporting customs duties. Following that, the M1 NXT platform will follow the following procedure once the goods have been shipped:
Discover the source of value in your supply chain
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Mynd ITFS freed up our existing bank limit thereby helping us in making timely purchase during peak season. Further we managed to get increased large orders from existing customers.
Samuel Chang, CFO Global Corporate