B2B Payments in the Tech Industry Need an Upgrade

Adobe on Why the Tech Industry is Ripe for Consumerizing Business Payments

B2B payments are generally behind the innovation curve compared to their consumer counterparts — even in the technology industry, where one-third of companies say their B2B buying experiences are “broken” due to legacy processes. In the “B2B and Digital Payments Tracker®,” a collaboration with American Express, Adobe’s Matt Wegner explains why the tech industry is uniquely poised to move B2B payments toward a consumer model of technology and service.
Inside the August Tracker
  • PYMNTS interviews Matt Wegner, vice president of global payments & risk at Adobe, about how the technology industry is perfectly poised to move B2B payments toward a consumer model of technology and service.
  • Roughly two-thirds of technology B2B buyers regret almost every purchase they make, up 6% from 2020, and the challenges of purchasing technology are a large part of the reason.
  • Technology and IT companies are among those suffering the biggest brunt of slow payments, and a poor B2B payment process badly in need of an upgrade bears a good deal of the blame.

American Express B2B and Digital Payments Tracker Series