Sales Director Q&A: Hiveterminal is on Track to Reach 1000 Registered Companies by the End of April

We are happy that all the time we have put into event planning, preparation, setting up one-on-one meetings with interested companies and their sales departments, and launching our very own call center, has started to show results. Our goal in these early days is to establish trust in the fact that the product works, both from a business and technology standpoint. I believe we have now reached a place of mutual understanding and trust with a core group of users, both on the invoice buyer and invoice seller side. We are now reaching the point where those companies and users have started to share their experiences about Hiveterminal through word of mouth. Our job is to make sure their experience is a good one and our team is going above and beyond in our efforts to register, verify, and help upload invoices to the platform.

The rubber has hit the road and we are experiencing traction. This is a good thing and it validates our business model as a viable one. It is also building a network effect, as more and more companies are having a positive experience, trying out Hiveterminal for the first time and telling their colleagues about it. While we are seeing positive growth on a daily basis, I want to be clear our goals will be achieved, and we are on track to have 1,000 companies registered within the platform by the end of April!

These first few months were crucial, and some mistakes were made, but we learned from them and got better at what we do because of it. That is why we are adding an important sales channel to our existing ones with our team, focusing on delivering partnerships with larger enterprises from Slovenia. These can help us reach a larger audience faster by giving us access to their supply chains. These companies are also stakeholders in our system and can use the functionality of buying their own invoices. This means that by partnering with Hiveterminal and using the technology we have developed, companies can buy the invoices of their partner companies at a discounted price. A true win-win situation that will provide gains to all parties involved. We are optimistic going forward in implementing this strategy.

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COMMUNITY: How many members of the team had experience with the factoring industry before coming to work for Hiveterminal?

Since the beginning, we have been confident in our understanding of the invoice financing and factoring industry. I will not go into all the details about the knowledge level and experience our CFO, Ugur Yildirim, has acquired in his long and successful professional career. Many of our team members held different roles as advisors and PR & marketing professionals. Our development and sales team members have previous experience working within finance industry, with the majority having worked in the invoice financing and factoring industry.

COMMUNITY: Do you expect that the onboarding of companies that are part of the ERP system with the plug-in will happen at a faster pace?

The short answer is yes. However, to expand upon it, I will say this: ERP systems are traditionally used in larger companies and enterprises. Therefore, the simultaneous release of our ERP plugin and overlapping new sales strategy mentioned above is not a coincidence. We are intentionally now introducing the tools that will help us sell the benefits of Hiveterminal to SMEs and debtors, regardless of their size.

COMMUNITY: Have you come across any companies familiar with the Adacta (Microsoft) ERP at your presentations/events?

Yes. There is a reason we chose Adacta as a partner company. First, they serve a large base of enterprise MS Dynamics installations. Second, their international presence also opens up expansion opportunities for Hiveterminal once we reach a stable supply of invoices in Slovenia. With the release of the ERP plugin for both MS Dynamics NAV and 365 versions, we will be reaching out to other similar companies that serve a similar yet different client base.

COMMUNITY: Has Hiveterminal looked at partnering with online accounting services in Slovenia like e-racuni?

Yes. We have one such partnership already in place and we will announce it once we have the product developed for integration.

COMMUNITY: Have you thought about using content from sales presentations to put in a webinar series for these services as promo material?

Once again, yes. We are very flexible in supporting the client bases of various companies that give us access to their user bases. There is no cookie-cutter template for how to prepare such materials, as we rely on the knowledge of those companies who know their clients far better than we do.

COMMUNITY: What’s plan B if the current path of signing up accounting companies does not deliver any sustainable growth?

Our communication adapts to different channels and their cycles. For example, any communication we would have pushed toward accounting services in the past two months would have fallen on deaf ears. It is the most important time of year for them as they are busy finalizing company annual financial reports for their clients. We respect those boundaries and will pick up the communication volume as soon as they get out of the weeds.

At the same time, we are very flexible in adapting our strategy and communication style for different user groups. The same messaging has never worked for all users, and we’re slowly solidifying key messages for each individual group.

But one more thing is often forgotten: our early adopters. These are the people in our community who have supported us before. We would be very happy to have the users from Slovenia reach out to us in onboarding their own companies or companies they know would benefit from using Hiveterminal and selling their invoices.

COMMUNITY: How are the confirmations of invoices with the debtors going? Do a lot of them respond to the emails you send or does it take one-on-one interaction? Also, do they always agree and if not, for which reasons do they decline?

The outside perspective is often much different than the one we see on the inside. I think that the perception has been that all the invoices uploaded to Hiveterminal make it to market. In reality, there are more invoices uploaded to the platform than appear on the market. As far as the confirmed invoices go, the split between on-platform confirmation and confirmation that needs team involvement is 50–50. We work closely with debtors after they finish the confirmation process, helping them register on the platform so that the process would be as swift and effortless for them in the future.

COMMUNITY: I would like to know if you are working to improve cross-border payments so that money can be transferred to Hiveterminal more quickly? Any solutions or partners you looking to work with? Ripple?

Ripple and other cryptocurrency solutions have a couple of issues from our standpoint. The absence of clear, regulatory framework aside, we chose Euro transfer simply because you can transfer fiat to any bank in the world. The transaction costs may differ, but you can count on the ability to transfer fiat to another bank. We don’t want to be stuck in a system where our services are only available to the users of certain banks that have adopted particular solutions. In a system built for scale, access has to be universal.

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*The questions we received from our community have been proofread for typos, misspellings, and grammar mistakes for the sake of clarity.

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I would like to invite you all to our Telegram channel, where great communication is being held between our users and team members. To join our Hiveterminal Official Channel, you will need to:

• Register on Hiveterminal (www.hiveterminal.com) as either an invoice buyer or seller and pass the user verification process.
• Using the same email used for Hiveterminal registration, you will then need to send your Telegram username to our email: support@hiveterminal.com.

The Hiveterminal Support Team will personally verify that you are a user of Hiveterminal and add you to the new Telegram channel. It is open to all that want to talk about Hiveterminal, regardless of whether they currently own Hiveterminal Token (HVN) or not.