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It seems an especially low number when considering this stat: Only 3 percent of companies meet customer demands for instant business-to-consumer (B2C) payments. There are also providers that offer techniques to help with cash-flow forecasting for treasury departments. Three percent of, well, anything is not a lot. Why B2B Lags.
Disruptors in B2B payments have an opportunity to access larger profit margins, it continued, in a market less saturated than the B2C payments space. The FinTech industry has risen to the challenge of knocking out many of those legacy solutions, and innovation in accounts receivable and accountspayable is on the upswing.
The last decade of B2B FinTech innovation not only led to an explosion of product options for businesses to manage a variety of processes, including accounts receivable (AR), accountspayable (AP) and accounting. But AI is far from the only technology disrupting payments.
As instant payment schemes continue to roll out across the world, this not only impacts B2C companies, but also has a knock-on effect on the full value chain of globally connected corporates,” said Deutsche Bank Head of Cash Products, Global Transaction Banking Shahrokh Moinian in a statement announcing the report.
million fundraise for Finland’s Enterpay will help the accountspayable solution provider strengthen its position in the European B2B eCommerce market. to expand its artificial intelligence-driven solution that analyzes unstructured language data to improve business outcomes for B2B and B2C companies.
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