Innovation and competition are constantly reshaping the B2B landscape.
The pace of transformation has seen financial institutions (FIs) and corporations increasingly looking for ways to update their B2B payment processes with the latest technology.
Given the economic volatility of recent years and the current technological explosion, it is nearly impossible to find one aspect of business that has remained constant except the need to pay and get paid as efficiently and quickly as possible.
That’s why better digital tools for small businesses, cybersecurity imperatives for all companies, integrated B2B solutions and working capital innovations are at the heart of the B2B trends and topics PYMNTS has been tracking this week.
Leveraging the impact of integrated payments in the B2B space
As businesses of all sizes and verticals look for more efficient ways to manage payments and working capital, integrated finance is emerging as a transforming force in B2B commerce. That is the vision of Alan KönigsbergSenior Vice President and Global Head of Working Capital Solutions and Large and Mid-Market Industrial Verticals at Visawho told PYMNTS on Thursday (July 18) that consumer-like experiences online will help bring analog B2B interactions fully into the digital realm.
It is an opinion shared by Jim ColassanoSenior Vice President of Product Development and Strategy for RTP at The clearing houseWHO counted separately PYMNTS reported Wednesday (July 17) that integrated options have been transforming the very nature of B2B trade.
The concept of working capital management is at the heart of the discussion on innovations in integrated finance. The recent period of rising interest rates has brought renewed attention to accounts receivable processes, after a decade of developments focused primarily on accounts payable and buyer-led solutions.
On the working capital front, the e-commerce invoice financing company Clearchus has partnered with a small business-focused capital market Unlimited.
The Asociation, Announced Tuesday (July 16) is designed to provide working capital to e-commerce brands, with Clearco offering businesses outside of its core focus direct access to Boundless’ marketplace, and Boundless connecting e-commerce brands to Clearco to access funds within 24 hours.
Elsewhere, Convey and Midland States Bank have partnered to help suppliers deliver to their business customers Instant access to working capital at the point of commerce. Companies will offer these dynamic payment solutions by leveraging Transend’s B2B private label working capital solution, it was announced Monday (July 15).
How to ensure B2B digital transformation is as safe as it is beneficial
From today digital landscape It has transformed the calculus around cybersecurity for financial institutions and corporations.
And with him news On Wednesday (July 17), the U.S. Department of the Treasury and the Financial Services Sector Coordinating Council (FSSCC) released a set of resources to share with financial services institutions on effective practices for their secure cloud adoption journey; companies are considering ways to bring financial and payment workflows into a secure and compliant manner. up to date With the latest technology.
The initiative, driven by the Financial Stability Oversight Council (FSOC), aims to address several critical gaps identified in the Treasury report on the Cloud adoption in the financial services sectorThese gaps include the need for a common lexicon, increased information sharing, better oversight, third-party risk management, and greater transparency and oversight of cloud services.
This comes after news that surfaced throughout this week that Ritual of help, Disney and Square space each cyber violations reported which resulted in the theft of confidential information. And that’s not even counting Friday (July 12) report that “almost all” AT&T and third-party wireless customers using its network have had their information stolen.
That’s why PYMNTS investigated how to build a fault tolerant organization Balancing cyber prevention with response and recovery is so crucial.
Online platforms are transforming B2B processes
With the basics of cybersecurity covered, B2B companies have a wide range of digital solutions and innovations at their disposal to help streamline and optimize their operations.
For example, LexisNexis Legal & Professional launched its AI-powered research tool, Nexis+ AI, on Wednesday (July 17). The platform aims to transform How enterprises collect and analyze critical business insights, leveraging generative artificial intelligence (AI) to sift through vast amounts of data at unprecedented speeds.
The same day, Earring insured 65 million dollars in strategic equity and debt financing to expand its B2B payments platform for businesses. The financing was provided by JP Morgan Payments, And Combinator, Jack Altman and Max AltmanThe new fund of SagaSlope said Wednesday.
Elsewhere, Fleet aggregate Two new integrations to your fleet maintenance management software. These integrations, with Fuel cloud and Filling ritewill help companies with on-site bulk tank fueling streamline fuel management, gain insights and optimize fleet fueling operations, the company said Tuesday.
On Monday (July 15), JTL Software and Mollie partnered to provide Enhanced payment options to merchants using JTL e-commerce solutions.
As the construction industry grapples with razor-thin margins and complex cash flows, PYMNTS unpacked How AI can transform the industry’s financial landscape, one algorithm at a time. After all, it was just this Monday that Adapted raised $19 million in a Series A funding round to scale its AI-powered financial platform for companies in the construction industry.
The great impact of digital innovation on small businesses
Digital tools are not reserved for monolithic multinationals alone: small businesses can also capture new growth and unlock influence using modern solutions.
Global data platform 9Rays on Tuesday thrown out a new product designed to provide small and medium-sized businesses (SMEs) with automated and predictive cash flow management and forecasting capabilities.
DocumentAlso on Tuesday, it added an “AI accountant” called GARY to its digital back-office solutions for SMEs. GARY is built on Docyt’s AI software-as-a-service (SaaS) financial management platform that integrates expense management, revenue accounting, industry vertical reporting, and key performance indicator (KPI) financial reporting, the company said. saying.
Just business has expanded Your offer of workers’ compensation insurance for small businesses by partnering with the workers’ compensation provider Employers.
With this expansion of its offering, Simply Business can digitally quote and link workers’ compensation policies for more than 300 different types of small businesses across all eligible states, the companies said Wednesday.
Arvo Technology has raised $2.5 million in a Series A funding round to offer its tax strategy solution to more SMBs, the company announced Wednesday.
FIS launched a solution designed to help banks source, underwrite and fund SME loans. The new digital SME lending solution was created in partnership with the technology platform for financial solutions for small businesses LendioFIS Announced Tuesday.
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