Overview
Why don’t we FIZITize? That is the question we want clients to ask. In other words, “why don’t we get paid immediately upon delivery in return for a small discount rather than waiting months with the associated expenses, disputes, and reconciliations? Seems like a no-brainer to me.”

VISION: FIZIT was founded on the belief payments for industrial goods and services should and can be as efficient as a consumer buying gasoline – delivery is confirmed, transaction value established, and the payment process initiated within minutes.

BUSINESS SUMMARY: With an initial focus on companies in the energy value chain, FIZIT is a financial intermediary providing supply chain financing; increasing the velocity of money in industry segments with historically lengthy payment cycles. Leveraging, IIOT, blockchain, smart contracts, artificial intelligence, machine learning, and innovative financing, FIZIT delivers next-day payment for confirmed deliveries of B2B products and services.
Our ability to monetize transactions within hours of delivery, rather than after invoicing, sets us apart from other payment solutions.

PROBLEM SOLVED: The B2B payments space is inefficient. Multiple manual steps
plague payment processes, resulting in payment cycles of 30 to 45 days in a good case to more regularly, 60 to 90+ days in most cases. These payment delays lead to issues such as material reconciliation expenses, interest charges on carrying costs, opportunities for fraud, and the lost opportunity cost of funds not being available. Issues, such as these, are significant enough that, on their own, vendors often offer unsolicited discounts to encourage even two weeks of “quick pay” by their customers.

VALUE PROPOSITION: By enabling immediate payment for products and services,
FIZIT reduces a seller’s Days Sales Outstanding (DSO), increases supply chain health, and frees capital for accelerating growth or retiring debt.

Payments

FIZITInc

FIZITInc's headquarters in Houston, United States

Description

People (2)

Andrew Bruce

David Nichamoff

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