REKKI CEO Ronen Givon. Source: REKKI
Running a restaurant is anything but easy. Long hours, plenty of pressure, and a whole lot of passion go into a seamless experience for paying customers expecting the best.
This is something that REKKI CEO Ronen Givon knows all too well. Ronen has run restaurants in London for over 10 years and gained first-hand experience of how hard the industry can be for independent businesses.
With the goal of simplifying the work of chefs, restaurant owners, and suppliers (while increasing profits), Ronen devised a perfect solution - REKKI. Today REKKI connects thousands of restaurants across the UK and USA with local suppliers through its unique B2B marketplace app.
Using REKKI, chefs can discover new suppliers and place orders on net terms, all in one place. Suppliers also benefit from being on the app by experiencing a consistent flow of business from restaurants in need of supplies.
While REKKI was solving a very real supply and demand problem in the industry, there was another issue.
Throughout the month, restaurants place multiple orders to replenish their stock. The industry standard payment type for these orders is on invoice. But the issue is that buyers end up with multiple invoices that need to be paid at different times.
Consider a restaurant that replenishes their stock 8 times a month. It’s challenging to keep track of what needs to be paid and when. With an already high workload, buyers and sellers on REKKI’s app needed a simpler way of consolidating their invoices into one.
Serving up a solution
With Two, REKKI was able to do just that! Using Two’s Trade Account and grouped invoice feature REKKI buyers could purchase what they need throughout the month while receiving a single invoice for all purchases.
REKKI’s customers were dealing with an average of 13 invoices per month, each one for a different order at a different time. But Two’s solution simplified this to just one invoice!
As Ronen says “There are so many suppliers so it’s critical they can consolidate their orders into one bill.”
Less admin isn’t the only benefit of Two for REKKI though. Because a customer’s orders are batched, credit terms are required to place the order in the first place. And Two’s B2B Buy Now Pay Later solution makes offering credit terms to REKKI’s customers a piece of cake!
Ronen continues by saying “Our customers are voting with their wallets and choosing 30 day payment terms over other solutions we offer. Two has helped us remove a lot of the friction from the purchasing process for a restaurant.”
A custom order
REKKI currently uses Two’s Trade Account solution but needed it to be customised to suit their needs. “Since our solution needed to be more bespoke, we needed a long-term partner, not just a commodity solution” Ronen explains. This meant that Two had to customise the existing Trade Account solution to fit REKKI’s specific needs.
As Ronen continues “We found Two to be true partners to us. Always available, always flexible, always professional, starting with the sales team, to operations to tech, all the way to leadership. We also like them as people!”
What a result!
Looking to the future, REKKI aims to increase their Gross Merchandise Value being processed through their app. And with the help of Two, they’re on their way to doing just that!