The B2B payments world is changing fast due to both the increased adoption of digital payment methods over the past several years and the economic upheaval brought on by the COVID-19 pandemic. Approximately $25 trillion in payments flows between American businesses annually, and B2B payments...
Getting paid instantly begins with delivering invoices in real-time, says Kim Vodicka, vice president of commercial operations at Dell Financial Services. In the CFO’s Guide To Digitizing B2B Payments Report, Vodicka explains how application programming interface (API)-based integrations between vendors' AR systems and buyers’ AP...
The COVID-19 pandemic is inspiring many businesses to accelerate their shifts to digital transaction methods as workforces operate remotely from home, and many are finding that doing so is helping them overcome traditional business-to-business (B2B) payment frictions. Companies long-used to sending and receiving paper invoices...
The pandemic has driven companies in many sectors to streamline cumbersome payment processes that are siphoning off time and money they can no longer afford to lose. Many of these processes are decades-old and must follow complex regulatory guidelines, as is the case in the...
Construction firms that rely on paper-based processes can spend $50,000 or more a year processing invoices and making payments — money they can save by switching to card-based transactions, says Jeff Freese, CPA and controller at commercial wall system contractor Nevell Group. In the CFO’s...
Construction companies need to ensure they can swiftly purchase materials and other supplies to complete their projects and maintain steady cashflows. Transacting with vendors through paper checks and receiving paper invoices have become more difficult due to postal service disruptions, companies’ shifts to working out...
Vendor onboarding is a necessary and often challenging step in forging business relationships. Corporate buyers must gather data to ensure that potential suppliers can meet their procurement needs, but their research does not stop there. They also need to collect and verify vendors’ details to...
Construction companies often rely on material and equipment suppliers to complete projects, but manual, paper-based invoicing can make paying subcontractors a struggle. In the CFO’s Guide To Digitizing B2B Payments, Anna Bickford of commercial-building contractor DPR Construction explains how switching to cloud-based systems can take...
Corporate buyers need to be able to pay their vendors quickly and easily, especially during a pandemic that has caused many employees to work from home, making paper checks and manual processes especially inconvenient. Accounts payable (AP) teams are now taking a fresh look at...