By: Franklin Ocheneyi
Duplo, a technology company, participated in the recently held manufacturing, equipment and raw materials exhibitions, organised by the Manufacturers Association of Nigeria (MAN), and the Raw Materials Research and Development Council (RMRDC).
In a presentation to the exhibitor companies (Manufacturers, oil and gas, banks …), Aderonke Folorunso, Head of Sales, Duplo, said: We’re on a mission to power commerce across the continent.”
She said that Duplo makes it easier for African businesses to manage their financial operations by providing digital tools that enable more efficient, cost-effective, and transparent payment and reporting processes.
” We’ve built an industry-agnostic product that completely automates the back-office processes of generating and processing invoices, receiving and approving bills, collecting and disbursing funds, managing expenses, and completing account reconciliation,” she said.
She explained that with Duplo, businesses of all sizes can streamline their back-office operations seamlessly pay suppliers and vendors, and get paid much faster by their business customers. Transform the way your business manages their financial operations with us.
Further, she disclosed that Duplo recently launched two unique products called the vendor financing and the checkout solution.
She asked rhetorically, how does that work and how would that be a benefit to manufacturing companies here? , then answer:
” The vendor financing, let’s take a scenario for example, it’s a scenario that I believe we are all familiar with.
You’ve got some goods or services from your supplier and your supplier has issued you a 30 days credit and the time is just fast approaching and due to other obligations you think you might not be able to make top with the payment.
Duplo steps in ensure we pay up to 70% of that invoice amount to the supplier and we can discuss a repayment schedule with you at a later date.
On the flip side, we also render same to your customers who had also decided to buy from you or due to finances they could not proceed to make that purchase.
And we have a checkout solution that allows them to come to your platform and they can pay with different digital technology like their USSD, their card and a very nice feature we call the BNPL, that’s buy now, pay later.
That means instead of abandoning their goods due to insufficient funds, Duplo can steps in, pay for that and the transaction can be smart and you can still ensure a fruitful relationship with your customers.
“We would like to understand your unique business needs and how Duplo can become your financial technology partner.”
Earlier, the President of MAN, Otunba Francis Meshioye, told the exhibitors and visitors to the expo that the annual event provides a common ground for large manufacturing organisations and SMEs to explore new production processes that will increase their production outputs.
” Duplo recently launched two unique products called the vendor financing and the checkout solution.“
He said that MAN has taken the challenge of leading the manufacturing sector to play a vital role in the nation’s vision of becoming one of the leading industrialised economies in Africa.
” The NIRAM Expo is aimed at creating a platform where stakeholders in the raw materials supply chain will come together to synergize, display and trade in available resources and raw materials with the users of these products.
With this in mind, we intend to close the information gaps and encourage local sourcing of available raw materials by manufacturing industries which is in line with government’s backward integration programme,” he said.
PHOTO: Tour of Duplo Stand at the event: Third from right Aderonke Folorunso, Head of Sales, Duplo, flank by the MAN President, Francis Meshioye; and other chieftains of Industry.