Doesn’t it drive you crazy that B2B payments aren’t simple and digital like consumer payments are?

We recently convened a panel of experts to explore what it would take to make B2B payments more simple, certain, and secure. They came up with five things:

  1. Deliver rich remittance information to suppliers.
  2. Get out of the business of bank account management.
  3. Remove risk and prevent fraud.
  4. Provide a simple, self-service supplier interface for payment and bank account information management.
  5. Connect settlements to remittance data and bank information for a high degree of certainty about who is paying, to whom, for what and when.

Okay, so we know what needs to be done, but how can you make these things happen at your company?

Find out by reading this short summary of our experts’ conversation.

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It’s easy for suppliers on the Ariba Network to go online and see the exact status of their invoices at any time. You would be surprised at how many calls actually go away.

— Al Barbee , Director, North America Shared Financial Services , GlaxoSmithKline