Real-Time Treasury Transformations Define This Week in B2B Innovation

Technology is transforming the B2B space, not at a trickle but a flood of new, digital innovation.

From accounts payable (AP) and accounts receivable (AR) automation to digital payments solutions and fraud detection advances, a new generation of emergent digital solutions and tools could replace or reduce existing workloads in several areas of many key B2B processes.

Across today’s B2B landscape, whenever a B2B payment gets sent, there is often a more streamlined, digital and automated way to do it.

That’s why PYMNTS examines the latest B2B news, from the transformative impact of B2B virtual cards to a surge in AP automation, single source of truth digital transformations and beyond. Here’s what we heard this week.

The Role of Finance and Treasury in Corporate Decision-Making

One of the biggest areas of impact technology is having is across the finance and treasury functions, as chief financial officers and treasury function leaders re-assess the historical calculus around integrating artificial intelligence solutions into their workflows to open new horizons of opportunity.

As PYMNTS dug into Thursday (Aug. 15), the greater availability of data and superior tools for analyzing it is super-charging performance across five traditional CFO and treasury disciplines, including cash flow forecasting, risk management and fraud detection, the automation of routine tasks, real-time treasury management, and strategic decision support.

The PYMNTS Intelligence report “Most CFOs See Limited ROI From GenAI, but Boost Its Investment” found that firms are increasingly using generative AI for medium-impact tasks, such as financial reporting and data visualizations, surpassing the share using it for more routine tasks.

Creating data visualizations or reports is the most common use of generative AI, according to the report, which is the fourth edition of PYMNTS Intelligence’s 2024 C(AI)O Project.

As Ambrish Bansal, global head of Liquidity and Cash Concentration Products for the Citi Treasury and Trade Solutions business, told PYMNTS’ Karen Webster, the role of the treasury department is changing at a rapid pace.

AI isn’t the only innovation impacting the treasury. DBS and Ant International launched a pilot of a blockchain-powered treasury and liquidity management solution designed to enable Ant International to reduce the settlement of intragroup transactions from days to seconds. The solution, DBS Treasury Tokens, will enable Ant International, a provider of digital payment and financial services solutions, to use the digital form factor to achieve instant, multicurrency treasury and liquidity management on DBS’ permissioned blockchain for its entities across multiple markets, the companies said Tuesday (Aug. 13).

PYMNTS also unpacked Tuesday how the digital transformation of the banking sector is increasingly reshaping — and enhancing — the operations of traditional treasury teams.

Digital Innovation Has Impact on Small Business Growth

The small business landscape is proving to be a big opportunity area for innovative financial solutions.

The PYMNTS Intelligence report “From Cash Flow Pain to Working Capital Gain: Automated AR/AP Solutions for SMBs” revealed that 43% of small business owners prioritize simplicity in their financial tools, while 36% look for affordability. Additionally, over 70% of respondents expressed a desire to consolidate their financial solutions into a single platform.

“Small business owners are using a variety of solutions,” American Express Vice President of Marketing, Business Blueprint and Small Business Banking Brett Sussman told PYMNTS Thursday. “They may have seven-plus business apps in their back office, and they’re looking for a simpler and more efficient solution.”

The marketplace is responding.

Invoiv.com launched a cash management platform for small- to medium-sized businesses (SMBs) in the United States and Canada. This Software-as-a-Service (SaaS) platform includes AP and AR solutions together with online invoice generation tools with embedded payment links, the company said Tuesday.

Lili, a small business-focused financial platform, launched a business banking collaboration with Dun & Bradstreet the same day.

B2B Marketplace Themes and Trends

PYMNTS reported Wednesday (Aug. 14) that fostering a culture of cybersecurity awareness and implementing robust verification protocols is top of mind for prevention-focused B2B buyers and suppliers.

Business email compromise attacks are particularly effective in the B2B context due to the high transaction value, complex communication chains and global reach, as well as other factors including time sensitivity.

Across the marketplace, payments solutions firm Finzly launched a partnership Wednesday with corporate payments company Corpay, while business management software firm Sage announced Tuesday it is expanding its AP automation offering. Also on Tuesday, Centime added a fully liquid, high-yield bank account to its AP automation solution.

Elsewhere on Tuesday, investment firm Vista Equity Partners acquired procurement software company Jaggaer, while credit infrastructure provider Setpoint announced Wednesday that it raised $31 million in a Series B funding round. Setpoint said it wants to use machine learning and large language models to enhance the verification of asset data and calculations, promoting greater innovation in the credit infrastructure space.

And also this week, Oracle added new user experience enhancements such as pricing rules for order management to the Oracle Fusion Cloud Supply Chain & Manufacturing. The upgrades are built with the consumer-grade Oracle Redwood Design System and are designed to benefit procurement professionals, logistics managers, field service technicians and product managers, the company said Tuesday.

And PYMNTS unpacked Monday (Aug. 12) how digital payments, particularly within the B2B context, are turning user experience into a commercial relationship superpower.

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