Today in B2B payments, smart treasuries focus on customer success, and Praetura discusses invoice finance and late B2B payments. Plus, ANNA collaborates with Currencycloud, Yahoo Small Business adds new partners and Invoier secures new funding.
Global economic disruption from the past year and a half has placed a new emphasis on corporate agility. Businesses no longer view risk mitigation or supply chain agility as elevated initiatives, but as integral requirements to their operations — and corporate treasurers have stepped up to the forefront of these efforts. The phrase “digital transformation” continues to dominate the conversations of corporate finance leaders as the treasury department looks to take on a more strategic role within the enterprise.
Late B2B payments and longer supplier payment terms are crushing many small businesses. Invoice financing can help, but Praetura Invoice Finance MD Ray Lowrey says businesses should turn to providers that can offer a more personalized approach to support cash flow management needs.
Small business account and tax app firm ANNA Money announced Wednesday (Aug. 18) it is working with cross-border finance specialist Currencycloud to enhance its international banking offering. “A common issue with online banking is that customers often have to leave one app and go to another to facilitate an international payment,” the company said in a news release. “The Currencycloud solution for ANNA Money means they are able to offer customers international banking connected to their ANNA Money account without extra layers getting in the way.”
Yahoo Small Business, a division of Verizon Business, announced on Wednesday (Aug. 18) the expansion of its partner ecosystem to include 1-800Accountant, Constant Contact, PromoRepublic and WebCEO. Yahoo Small Business customers will now have access to assistance with their accounting, SEO, social media marketing and email marketing needs, among other business priorities. The new partners’ services will also be available via Yahoo Small Business’ Business Maker platform, which offers tools and services such as creating business plans, forming a legal business entity, establishing an online presence and collecting payments.
The EU’s European Innovation Council Fund has invested 4.1 million euros (approximately $4.8 million) in Stockholm-based FinTech provider Invoier to help bolster the European small to medium-sized business (SMB) community, Invoier announced on its website Wednesday (Aug. 18). Since its founding in 2018, Invoier has worked to offer better financing and growth opportunities for SMBs. With its latest investment, the company intends to help businesses transform invoices into working capital, in essence obtaining peer-to-peer financing for yet-to-be-paid business expenses or purchases.