Today in B2B funds, an absence of in-house know-how hinders corporations’ makes an attempt to digitize, whereas purchase now, pay later (BNPL) connects consumers and suppliers. Plus, Billtrust and Flywire modernize B2B funds; personal labels and higher packaging can take away the stigma round merchandise made in Africa; and Palette Software rebrands as Rillion forward of its U.S. debut.
CFOs: Lack of In-House Expertise Hinders Attempts to Digitize
Companies have moved to innovate their accounts payable (AP) and accounts receivable (AR) processes, however many nonetheless face challenges in digitizing operations rapidly sufficient to maintain up with their opponents. Topping the checklist of boundaries to funds innovation is an absence of in-house experience to help it. Sixty % of CFOs cite that as a priority, based on “Next-Gen Commercial Banking,” a PYMNTS and FISPAN collaboration.
B2B BNPL Reduces Friction Between Suppliers and Buyers
Mickey has launched its newest B2B platform: a market that connects lumber producers with producers, builders and different consumers. The platform supplies real-time inventories, an automatic success course of and an end-to-end buying answer. Topping the checklist of chores a platform can take off suppliers’ arms is collections.
Billtrust, Flywire Results Show B2B Payments Modernization Continues, Cards Gain Acceptance
Billtrust’s and Flywire’s outcomes present that corporations throughout all verticals are shifting towards platforms to reinforce their funds functionalities and embrace card funds. For Billtrust, software program and funds segments’ income development, on an adjusted foundation, was greater than 16% yr over yr. Total fee quantity, the greenback worth of buyer fee transactions that Billtrust processes on its platform throughout a selected interval, elevated by 45% year-over-year to $22 billion. Meanwhile, throughout a convention name with analysts, Flywire CEO Mike Massaro mentioned the full fee quantity for the quarter elevated 46% in comparison with the primary quarter of 2021.
Private Labels, Custom Packaging Key to Redefining Poor Perception of ‘Made in Africa’ Brands
Birame Sock, founder and CEO of African B2B market Kwely, instructed PYMNTS the detrimental notion of merchandise manufactured in Africa is especially attributable to poor packaging, and through the years, it has hindered exports and negatively impacted the underside traces of small- to medium-sized companies (SMBs) within the area. Redefining that picture is vital to growing the competitiveness of African suppliers each regionally and internationally, and the motivation behind the launch of the Kwely, which is giving native producers the mandatory instruments and help to reach the worldwide market.
Nordic AP Automation Platform Palette Software Rebrands as Rillion for US Debut
Global Software-as-a-Service (SaaS) options supplier Rillion has rebranded from its authentic identify, Palette Software, amid its United States debut. The platform captures bill knowledge, processes invoices, matches buy orders, provides searchable archives and permits approval workflows to spice up productiveness in finance and accounts payable (AP) departments.
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NEW PYMNTS DATA: THE TRUTH ABOUT BNPL AND STORE CARDS – APRIL 2022
About: Shoppers who’ve retailer playing cards use them for 87% of all eligible purchases — however this doesn’t imply retailers ought to boot purchase now, pay later (BNPL) choices from checkout. The Truth About BNPL And Store Cards, a PYMNTS and PayPal collaboration, surveys 2,161 customers to search out out why offering each BNPL and retailer playing cards are key to serving to retailers maximize conversion.