Digital Payments: Redefining B2B Payments in Mid-Sized Businesses


This e-book outlines the changing dynamics in the B2B payments landscape within mid-sized businesses. Understand the challenges involved in traditional payment methods and how it affects the overall cash flow. Explore key market trends and emerging digital payment methods that provide opportunities to improve cash flow and make a positive impact on working capital

Contents

Chapter 01

Executive Summary

Chapter 02

The Landscape of Payments

Chapter 03

Payment Challenges Faced by Mid-Sized Businesses

Chapter 04

A Map to Curb Challenges

Chapter 05

Summary

Chapter 06

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Chapter 01

Executive Summary


1.1 Sign of the Times: The Need for Digital Payments in Mid-Sized Businesses

Cash plays a crucial role in the survival of any business and the ongoing global crisis has prompted businesses to re-evaluate their payment processes to deal with cash flow issues. Late payments coupled with delayed processing for traditional methods of payment such as cash and checks adds on to the struggle of preserving cash. For many mid-sized businesses, paper-checks are still relevant but it comes with a steep price to pay. The major concern is the manual processing time as they take a long time to reflect on the open A/R on top of being error and fraud-prone.

Digital payment methods have emerged to address these pain points by streamlining payment processing with added benefits such as real-time payment, better visibility, compliance, fraud protection, and improved cash flow.

eb-iconAccording to a study by Mastercard of SMEs spread across North America, 76 percent of businesses say that the pandemic has pushed them to become digitally equipped

When it comes down to the question of survival, cash flow is oxygen for businesses. Having better visibility and getting paid faster with lower transaction fees are critical for finance executives. Real-time payment methods can accelerate cash flow while avoiding the high cost of manually processing traditional paper-based checks. Owing to digitalized payment methods, the faster payment cycle would result in positive cash flow.

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