INNOVO is a B2B commerce service that connects Suppliers with qualified leads from customers ready to buy from them at zero cost. As a result, Suppliers lower their sales and marketing costs, as well as sell spare capacity more efficiently. The Supplier can share these savings with Buyers through an “INNBATE”, which provides cashback payments to Buyers that purchase collectively from that Supplier through INNOVO.
It’s important to note, INNOVO is not a marketplace. Unlike Amazon, Ebay, or Alibaba, where Suppliers inundate you with offers in a virtual shopping mall, INNOVO has turned the process around to follow your procurement process. Traditionally, you would ask for offers based on some Buyer Request (RFI, RFQ, etc), and then select from the Suppliers you want to deal with, and many times you really would like to simply get better savings from an existing Supplier, instead of onboard a completely new one.
In a short, yes. INNOVO itself is the best example of this…
INNOVO has been built with $30 million of resources and input from 300+ very senior executives (Chairs, CEOs, VPs and Directors) from almost every industry and partner firms but with hardly any cash only about £230,000. INNOVO’s unique contingent funding model enabled them to each invest their time, experience and resources for deferred payment.