NATALIE TURNER [00:00:00] I’m Natalie with Disruptive Live and today, I’m joined by Michelle Faul, the Senior Director of MSTS. How are you today?
MICHELLE FAUL [00:00:08] Good, thanks. Thanks for having me.
NATALIE TURNER [00:00:10] No worries at all. Thank you for joining us. So, Michelle, could you tell us what MSTS is? I’m aware that it’s a multi service technology solutions platform. If you could just give us a little bit more information about what it does why you’re here. That would be great.
MICHELLE FAUL [00:00:25] MSTS Is a financial technology company servicing B2B sellers. Those are typically our customers. And we provide a service called credit as a service in which we facilitate invoice payments and credit and underwriting on behalf of a seller.
NATALIE TURNER [00:00:48] So could you tell us about the platform and what its core competencies are. So just a little bit more if you could delve into that for us.
MICHELLE FAUL [00:00:57] So we have four main tenants that are the core of what we do. Credit is one underwriting is another API is is another one and then customer support. And we put those together to enable the reason we’re let me back up and kind of talk about why we’re here and that might help frame the context. So we’re here today because there are a lot of B2B companies here looking to solve their strategies, their e-commerce strategy to overcome some of the challenges. One of the key challenges that many B2B companies have are that credit cards are not the right payment instrument for a B2B buyer. There is a lot of complexity when a B2B purchase occurs. And therefore, data needs to flow back and forth between the buyer and seller. There might be customized pricing, purchase controls, invoicing requirements. We do that on behalf of the sellers so that we can give the buyer exactly what they need and pass that data back and forth. So the AP department on the buyer buyer side is happy and the AR department on the seller side is happy. And we do that by extending trade credit or terms on behalf of our sellers to the buyer. So the buyer has 30 days to make a payment as opposed to having to make that payment with a credit card on an e-commerce site at the moment that they make the purchase. So we’ve found with our customers that that engineers loyalty, stickiness, retention rates go up. Share of wallet goes up. And everybody it’s a better purchasing experience, which is what we’re all searching for. We’re searching for that Amazon like purchasing experience, right?
NATALIE TURNER [00:02:36] Yes, of course. No, I completely agree. So as senior director, your role I mean, what are you responsible for, I should imagine you’re overseeing most of all this stuff. So if you could walk us through your day to day role.
MICHELLE FAUL [00:02:47] Sure I lead I lead the marketing team for MSTS and we have a solution globally. So we have offices around the world and we’ve been taking credit as a service to market around the globe. So this is one of the areas that Europe is an area that we have focus on. We have offices in the Netherlands and an office in the UK.
NATALIE TURNER [00:03:13] Wow incredible. So obviously, it sounds like you’re doing really well. What are the some of the challenges that you’ve faced so far?
MICHELLE FAUL [00:03:20] I Think the challenges. We don’t. There’s not a market for what we do. We talked about earlier that we don’t really have competitors in Europe. So this is an undefined market. Kind of in a B2B payments and B2B lending space. And therefore, sometimes it’s a little difficult for people to wrap their heads around what it is we do because it’s so different. They don’t have anything to compare it to.
NATALIE TURNER [00:03:43] Of course. Yes. Which is quite handy for you guys really isn’t it.
MICHELLE FAUL [00:03:46] It is once they realize they’re like, yes, I have that problem. But sometimes it takes a little bit of education before we get there.
NATALIE TURNER [00:03:53] Of course. So what do you think the main impact tech technology is having on marketing at the moment?
MICHELLE FAUL [00:04:01] We’re in an on demand society, so everybody wants everything now, and when it when you look at the B2C sector, everybody is that sets the context for how B2B has to operate. So they’re they want. They want it now. They want to order it. They want it now. And that’s the same thing that kind of flows into B2B. Those expectations from your B2C world flows into B2B and you kind of want it to be seamless so that just overcoming those challenges, given the complexity, supporting B2B, there’s just a lot more there and underlying under the covers. So it’s not quite as easy as B2C has it.
NATALIE TURNER [00:04:41] So what lies ahead for MSTS?
MICHELLE FAUL [00:04:47] Just as we roll out around the globe, we’re excited to partner with companies and help them grow and scale and help. When you when you help companies grow. Most of those are entrepreneurs are usually middle sized markets. We went from enterprise supporting enterprise level and we reconstructed our technology to go down market to some SME’s in mid-market. And when you support the SME and mid-market, you’re supporting local entrepreneurs that are giving back to the community. And so we’re excited to see that impact.
NATALIE TURNER [00:05:23] Is that the key message you are trying to get out or is that just part of it?
MICHELLE FAUL [00:05:27] I think that’s part of it. I mean, that’s part of our our mission and our value is to support global commerce. But. Through our Invoice Me product that we have displayed here today, we’re just helping to reduce the friction in the purchasing process between buyers and sellers.
NATALIE TURNER [00:05:49] Amazing, fantastic. Well look, thank you so much for joining us here on Disruptive Live. That is in fact all we have time for but we will see you very soon. I’m sure. That’s, as I said, all we have time for. But, don’t go away. We will be back after a short break. Don’t go away.