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:
- Deliver rich remittance information to suppliers. B2B payments often involve multiple invoices and adjustments that require significant remittance detail to reconcile.
- Get out of the business of bank account management.
- Remove risk and prevent fraud.
- Provide a simple, self-service supplier interface for payment and bank account information management.
- 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 a recent webinar from CFO.com.