B2B suppliers seek to capture revenue in ways that are convenient, cost-effective, and in some cases, profit-yielding. The highest priority is to simply assure the receipt of payments owed to them, as unpaid balances often lead to bad debts and write-offs. Innovation in the B2B payments space can prove crucial for the management of a successful accounts receivable function.
Creativity and insight rather than rote labor must now define the accountant’s work. The transition phase will be challenging, but businesses that plan in advance and use technology correctly will gain a step over their competitors.
Have you seen MineralTree in action? Here’s your chance. Join this quick, 30-minute session to learn how easy it is to capture invoices, route them for approval, and execute payment in a seamless, automated workflow.
Bruce Lowthers, executive vice president of FIS Global, a financial technology solutions provider, and president of the company’s Payments Division, didn’t set out to be an innovator. He sees problems consumers are having, and then he solves them. That attitude has led him to start four different companies and launch several products over the years.