B2B Payments
Streamlining accounts payable and receivable.
B2B Payments are payments made between businesses. One business, the buyer, will pay another business, the seller, through the transfer of monetary value in the preferred currency of the seller for goods or services rendered.
B2B Payment Dynamics
Important components of B2B payments include the cost of making and receiving payments, reliability of the payment method used, and how the associated data integrates into accounts payable and receivable systems.
Due to the systems involved for the buyer and seller, B2B payments are much more complex and time-consuming than B2C (business-to-consumer) payments. B2C transactions typically settle immediately while B2B transactions can take days or even weeks.
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Diverse Options & Integration Challenges
There are multiple payment methods available including: ACH, wire, digital wallets, commercial credit cards, eCheck, paper check, and fast payment options, each with its own benefits and limitations.
Large enterprises use digital payment methods that connect with ERP systems, which makes managing integration, operational processes, and change rather complex. Small businesses are increasingly adopting digital payment methods, but many still employ the use of checks.
ERP Integration & Fintech Solutions
ERP systems are the cornerstone of a well-run business. Integrating payment systems into the ERP is vital for streamlined and more automated operations. Businesses performing B2B payments are increasingly seeking payment options that can be processed directly from their ERP.
There are an increasing number of fintechs with effectual B2B payments solutions that capture and reconcile invoice-level data via buyer and seller ERP connections.
HOW WE CAN HELP
Expert B2B Payments Guidance
Strategy
We assess your B2B payment workflows and provide expert recommendations to streamline operations, boost efficiency through smart automation, and fine-tune your ERP and API integrations. Our goal is to elevate your performance metrics, ensuring a seamless, cost-effective, and scalable financial ecosystem.
Vendor Assessment & Selection
We analyze your specific needs and operational scenarios to provide tailored insights. Our recommendations for B2B payment providers are carefully selected to ensure seamless compatibility and feature alignment with your business architecture and objectives.
Market Insights
Our relationships with industry players, independent experts, and thought leaders keep us informed about the B2B payments market, enabling us to provide you with the most current and relevant insights.
