Receivables has an opportunity to create a better B2B payment purchasing experience
B2B buyer expectations are accelerating, heightened by advances in payment technologies and an ever-changing financial landscape. In the face of these shifting expectations, accounts receivables (A/R) teams need to be savvy to adjust.
When A/R teams aren’t equipped to meet buyer demands, they risk frustrated customers, cart abandonment and increased days sales outstanding (DSO) — all of which can lead to diminished customer loyalty. The bottom line: Receivables has the opportunity to positively impact an organization’s EBITDA, but currently, manual tasks, resource-heavy processes and dated technology are holding them back.
But when receivables teams create better customer experiences, they help keep cash flowing efficiently and reliably — a critical component of healthy EBITDA. With a bigger seat at the table, A/R can be an organization’s strongest steward of cash while also effectively managing revenue for the future. Simultaneously, better customer service leads to more loyal customers and bigger share-of-wallet. To achieve this, leaders must look to better technology and partners.
As B2B buyer expectations shift, we have developed a guide for meeting them. Take the next step toward empowering your A/R teams to improve cash flow by downloading our whitepaper.