B2B Payments Innovation Readiness
The B2B Payments Innovation Readiness Report, a PYMNTS and American Express collaboration, analyzes the survey responses of 460 small to large businesses to understand how manual processes impact the accounts receivable for businesses across a variety of sectors, including advertising, technology, construction, energy and healthcare. The report further explores how automation can help firms improve their collection cycles and reduce the average days sales outstanding.
Key Findings in the Study Include:
- 64 percent: Share of firms that are shifting away from physical invoices
- 50 percent: Portion of businesses that say high operating costs pose issues for their AR teams
- 60 percent: Share of firms that are preparing to automate their AR systems to unlock potential costs savings
B2B OPTIMIZATION AND EPAYABLES PLAYBOOK Study
- 43 percent: share of businesses that see improved data security as a key benefit of ePayables
- 35 percent: portion of businesses earning more than $1 billion per year that are highly optimized
- 21 percent: share of businesses planning to adopt ePayables in the next three years
B2B PAYMENTS AUTOMATION INNOVATION PLAYBOOK Study
- 59 percent: Portion of businesses that have yet to implement payments automation of any kind
- 46 percent: Share of companies that plan to implement automation within the next 12 months
- 88 percent: Portion of technology firms that have already implemented payments automation
B2B REAL-TIME PAYMENTS INNOVATION PLAYBOOK Study
- 59 percent of businesses say real-time payments would improve their cash flow and certainty
- 70 percent of businesses say they would benefit from real-time payments’ instant funds availability
- 60 percent of companies that are interested in real-time payments are also pursuing B2B innovation
B2B PAYMENTS TIPPING POINT PLAYBOOK Study
- 34 percent of companies say their use of ePayables will increase in the next three years.
- More than 35 percent of companies earning more than $1 billion per year have already adopted accounts payable automation.
- 61 percent of businesses say that Real-Time Payments would improve their payroll operations.