B2B Payments

Marrying Quantitative Analysis with Qualitative Feedback For A Better Buyer/Supplier Relationship

There are many ways to manage the relationship between corporate travel buyers and the vendors they use—formal data drive analysis or a more information feedback based relationship on product. According to a new study by Capgemnini Consulting, the best-managed process is usually a balancing act between the two.

“The challenge for procurement departments in organizations has been the balancing act between the traditional role of negotiating the most beneficial form of commercial agreement, whilst also facing the challenge of maintaining a trusting partnership,” according to Kirsten Schipper and Thomas Dahm, authors of a segment within a Capgemnini Consulting research report, reports Business Traveler News. “Many ‘old school’ procurement professionals have been struggling with the balance of negotiating with a supplier, and being the manager of a partnership with that same supplier… Today’s challenge is to set up structures to successfully measure and manage suppliers and build processes and procedures to intervene if KPIs are not met.”

Highlights of the report included a focus on transparency, both in analytical evaluations of buyers and of pricing, frequent, regular and scheduled communication and openness to new models.

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Digital transformation has been forcefully accelerated, but how does that agility translate into the fight against COVID-era attacks and sophisticated identity threats? As millions embrace online everything, preserving digital trust now falls mostly on banks and FIs. Now, advances in identity data and using different weights on the payment mix afford new opportunities to arm organizations and their customers against cyberthreats. From the latest in machine learning for fraud and risk, to corporate treasury teams working in new ways with new datasets, learn from experts how digital identity, together with advances like real-time payments, combine to engender trust and enrich relationships.

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