The B2B landscape is undergoing profound change, driven by a confluence of technological advances, changing business expectations and the relentless drive for greater efficiency.
At the heart of this change is the increasing digitization of B2B payments, which are proving to be a lever for innovation, competitiveness and growth as companies realize that modernizing their payment processes is crucial not only for efficiency reasons, but also to ensure security, improve cash flow management and provide real-time insights into financial transactions.
That’s why PYMNTS is tracking the latest developments shaping tomorrow’s B2B landscape. This week’s top topics revolved around access to capital, cross-border payments and marketplaces, and the broader digitization of legacy workflows in B2B payments and operations.
Impact of digital transformation on working capital and cash flow management
Managing working capital is a constant challenge for companies. Digital solutions are now helping to reduce this burden.
This week’s news includes Lama AI And Bridge joined forces on Wednesday (21 August) to increase the availability of commercial loans. Financial institutions using Lama AI’s artificial intelligence-based origination technology can access Bridge’s marketplace The connects business owners and lenders.
Adyen And InvoiceImmediatelyan invoicing and payments company, launched a small business-focused Instant payments Partnership Wednesday, which offers users instant access to deposited fundswhile Efficient capital laboratories announced on Wednesday that it has raised $11 million in Series A financing to expand its cross-border revenue-based financing offering for B2B Software-as-a-Service (SaaS) companies operating in the South Asia-US corridor.
Elsewhere, Cumulation 3 And Payout status joined forces on Wednesday to NetSuite User improved Cash flow managementPaystand’s B2B payments platform will be integrated into Cumula 3’s portfolio of cloud-based solutions for NetSuite.
Introducing the next generation of security and compliance
With B2B digitalization, a new approach to security and compliance is required.
Banks use Treasury PrimeThe embedded banking software can now use the risk and compliance solution from Cobalt Labs to better manage their Duty of care of third parties with AI, the companies said on Tuesday (August 20).
Fraud prevention companies Mitek expands a partnership Wednesday with payment processor Alogent. As part of the collaboration, Alogent will integrate Mitek’s Check Fraud Defender into its Unify deposit automation solution to prevent the growing threat of check fraud.
Riding the wave of digital B2B payments
For companies that are firmly rooted in traditional payment methods, the transition to a digital payment ecosystem can seem daunting. But the process can be approached strategically to minimize disruption and maximize benefits. PYMNTS offered three tips on Monday (August 19).
PYMNTS also explained how the turbulent global economy is forcing shippers, freight forwarders and other transportation and logistics stakeholders to consider the impact that digital Innovations such as embedded finance to avoid being left behind as trade and transport become more data-driven, efficient and flexible.
At the same time, cross-border eCommerce is increasingly redesigning B2B procurement.
City And Network International announced on Monday that they had Recommendation agreement Network will provide omnichannel payment acceptance solutions to the bank’s large corporate customers in the Middle East and Africa.
Ongoing progress in Digitalization and automation are increasingly providing greater efficiency, accuracy and strategic insights to CFOs and other executives.
The market is also experiencing a wave of Acquisitions aims to consolidate and better position innovative solutions to drive further digital transformation of the finance function.
According to the PYMNTS Intelligence study “Accounts Payable and Accounts Receivable Trends: What’s Next in Automation?”, of companies with annual revenue between $3.5 million and $15 million, only 5% of these mid-sized companies have fully completed automation of all processes and 15% have automated three or more tasks.
Almost 44% have automated only one or two AP processes. More than A third have not yet started automating and are still working with paperwork and manual tasks.
Paper checks are traditionally associated with as many as half of all B2B payment transactions.
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