B2B payments are hard!

"The most important thing to grasp is that payments are just one small part of an interdependent series of back office processes and exchange of information between business buyers and suppliers.

Solutions fall into three categories:

1️⃣ They focus on a specific business process (treasury, accounts payable, etc.) and aim to be best of breed (High Radius, Kyriba)

2️⃣ They attempt to address all of these business processes (SAP, Intuit)

3️⃣ They primarily serve buyers (Coupa) or suppliers (Billtrust)

But there is a lot of overlap as solutions expand into adjacent processes or build B2B networks that serve the needs of both buyers and suppliers.

Ironically, as we digitize payments we inadvertently exacerbate some of the challenges. For example, once upon a time the explanation of what a payment was for was delivered in an envelope with a check. Now remittance data is disassociated from the funds and delivered in a variety of formats (PDF, excel, a URL linking to a portal).

The enduring challenges related to inefficiency and working capital are opportunities for value add services that augment increasingly commoditized transaction revenue."

Author

ABN ASIA was founded by people with deep roots in academia, with work experience in the US, Holland, Hungary, Japan, South Korea, Singapore, and Vietnam. ABN Asia is where academy and technology meet opportunity. With our cutting-edge solutions and competent software development services, we're helping businesses level up and take on the global scene. Our commitment: Faster. Better. More reliable. In most cases: Cheaper as well.

Feel free to reach out to us whenever you require IT services, digital consulting, off-the-shelf software solutions, or if you'd like to send us requests for proposals (RFPs). You can contact us at contact@abnasia.org. We're ready to assist you with all your technology needs.

© ABN ASIA