SMBs Find Single AP/AR Vendor Payment Network Improves Cash Flow

Small to mid-sized businesses (SMBs) face numerous pain points in making and receiving business-to-business (B2B) payments, adding significant friction to accounts payable (AP) and accounts receivable (AR) processes. An all-in-one payment platform can address many of these headaches. Ninety percent of SMBs that adopted an all-in-one solution reported saving time in making payments, and 81% said the same about receiving payments.

“The AP/AR Quick-Start Guide: How All-In-One Payment Platforms Can Transform B2B Transactions,” a PYMNTS and Plastiq collaboration, surveys 500 SMBs and 100 payment platform executives to understand how all-in-one payment platforms can reduce AP/AR friction for SMBs and understand the barriers to wider adoption of this powerful solution.

• Many SMBs think an all-in-one platform would be too costly or complex.

Among SMBs surveyed that indicated no or only slight interest in an all-in-one platform, 57% said it would be too complicated to implement into AR processes, and 56% said this would be the case on the AP side. More than half also believed it would be too costly for making payments.

• Payment platform executives believe an all-in-one platform would benefit their SMB customers.

Ninety-nine percent of payment platform executives surveyed said their SMB customers would be interested in an all-in-one payment platform. The benefits that most SMBs expect to see when using an all-in-one platform include simplified AP tracking, cited by 83% of executives, and time-saving in AR processes, cited by 78%.

• SMBs interested in all-in-one platforms most frequently cite time savings and cash flow management as expected benefits.

Sixty-six percent of SMBs we surveyed that expressed strong interest in using an all-in-one payment platform said that it would save them time on AP, while 59% said the same about AR. Other top expected benefits include easier cash flow management and AP and AR tracking.

“The AP/AR Quick-Start Guide: How All-In-One Payment Platforms Can Transform B2B Transactions” explores the AP/AR landscape for SMBs and how an all-in-one payment platform can reduce friction on both sides of B2B transactions.

To learn more about how all-in-one payment platforms can address SMB pain points, download the report.