Are you confused about picking a company between Crown Office Supplies and Summa Office Supplies to set up a Net 30 account? Well, the choice can be a little tricky as both of them offer the feature to create an account with them.
Here in this article, we will give you a detailed comparison of both companies so that you can analyze everything and make a wise decision. However, before diving into the details, let us first understand a little about the Net 30 account.
Something about the Net 30 account
With a Net 30 account, you get the time of 30 days to pay the invoices, enjoying more freedom to make the payments. It is also known as vendor tradeline or net30 tradeline. The vendors that offer this type of account extend the credit to their customers with respect to the Net 30 terms.
You have more time to pay for the purchase of the goods. This adds less stress to your mind while purchasing office supplies. With these accounts, you can build the business credit for your brand while making the payment simultaneously. So you can build a solid business credit history for your brand. Besides this, you can improve the cash flow of your company.
This type of account is quite beneficial for startups and small-scale businesses that are looking to build a solid credit history
Crown Office Supplies Vs. Summa Office Supplies
- Credit Score
If you run a startup or small-scale business, then improving your credit score will aid you in the future in gaining or borrowing credit easily from other sources. Established and more prominent companies also need a strong credit score rating in case they need to borrow or gain credit. With a good score, you can proceed with the whole process smoothly without any unnecessary hassle.
Keeping this factor in mind, Crown Office Supplies takes an edge over Summa Office Supplies. The Crown company reports to five credit bureaus, while Summa only reports to two.
Crown and Summa Office Supplies share two common credit bureaus, namely Equifax and Experian. Both these bureaus have high credibility and are pretty popular. However, Crown has a wide arsenal than Summa and links with three other options that are quite popular in the domain.
Crown Office Supplies reports to Dun & Bradstreet, Credit Sage, and NACM, besides the two common shared agencies with Summa Office Supplies. D&B is a leading agency that is popular for generating DUNS (Data Universal Numbering System) for its customers. The DUNS number is recognized globally and elevates the credibility level of the company. Also, it is essential to acquire one if you want your brand to bid for government contracts. Moreover, you get access to a vast pool of banks and companies offering good funding.
Crown is linked with Credit Safe, another credit bureau with a global reach offering credit management solutions which include collection services and monitoring financial statements. The company provides high precision in its services and predicts 70% of insolvencies for the year in advance.
NACM is the third bureau that is linked to Crown. A membership with NACM will bring several perks to your brand and let you improve your business’s credit rating with essential resources and information. You will get tons of networking opportunities with the membership. From golfing events to conferences, you will be invited to several events and meetings where you will have a high chance to expand your network.
So, joining hands with Crown Office Supplies will allow you to reap more benefits than Summa Office Supplies when it comes to building a credit rating for your brand.
- Account set-up fee
With Crown Office Supplies, you have to pay 99$ annually to set up a Net 30 account. The process is relatively easy, and there is no need to make an initial purchase to open an account with the brand. If you have a solid credit rating, then you don’t need to pay the annual fee of 99 dollars. However, if you don’t possess one, then you have to pay the cost so that it can be counted towards your credit score and ensure the credit agencies about it. Once everything is set up, you get a credit between 2000 dollars and 4000 dollars for buying office supplies.
With Summa Office Supplies, you have to spend 75 dollars annual fee to set up a Net account. However, you have to make an initial purchase of 75 dollars or more to gain a credit of 2000 dollars. No doubt, you have to spend less money, but you have to work harder with Summa as they only report to credit bureaus. Moreover, it is mandatory to make an initial purchase to set up everything smoothly.
- Product range
Both Summa and Crown Office Supplies offer a wide range of office supplies. You can get everything from pens, pencils, and folders to legal pads for your office. However, Crown has a better catalog and offers high-quality products than Summa.
- Customer Reward System
Crown and Summa both have a customer reward system for their customers. You get an affiliate link that you can post on social media and other channels to earn rewards. You will earn a reward every time a customer makes a purchase using your link. With Crown, you get 15 dollars, while with Summa, you get 10 dollars.
So, it is better to partner up with Crown than Summa as you get the opportunity to earn more and make good money through commission.
Now, you know the differences between both companies. It is clear that setting up a Net 30 account with Crown will bring you more perks than Summa. Crown reports to five credit bureaus. It offers a better product range and a lucrative reward system. Moreover, you don’t have to go through any complex process to set up the account.
Now, go through all the details, analyze all the factors and make a wise decision before partnering up with any company.