Credit and A/R team could very well be the key to build an Amazon-like e-commerce experience in B2B while digitally transforming archaic credit approval, sales order, and payment processes.
Today, more than 50% of your B2B buyers are millennials and demand a digital-first experience and B2B commerce/digital transactions could deliver 13% of your revenue and breach $1.2 Trillion in the US by 2021.
However, the biggest bottlenecks for driving the adoption of digital B2B transactions persist. First, the continued reliance on credit cards and their high costs in commercial transactions. Second, the inability to offer custom, localized, low-cost payment methods including ACH (Americas), SEPA (Europe) and local payment methods such as mobile wallets. Third, delivering a customized self-service experience for customers right from the first credit application.
In the upcoming webinar, join HighRadius and PPRO as we discuss how to build a scalable e-commerce platform while shifting customers towards fast and low-cost payment formats, and lower customer service costs without impacting customer experience.
HighRadius Electronic Invoice Presentment and Payment (EIPP) Software provides tools that automate and speed up invoice communication and facilitate a faster collection of payments, enabling a closer and more convenient relationship with customers. It automates the invoice transmission and payment collection process providing a configurable solution that supports multiple invoice formats and different modes of transmission (fax, email, portal, etc.) depending on the targeted customer, its integration with ERP systems and a rich search capability enables efficient storage and retrieval of past invoices, backup attachments to minimize disputes and short pays. Apart from that it also has some key features that you would not want to miss out: level-III interchange and surcharge; self-service customer portal; invoicing across email, customer portals, post, and fax; advanced deduction management; and lightning e-payments. The result is faster invoicing and payment collection, better customer service, and improved profitability and cash flow.