PBExpo is the premier payment and banking industry event for aviation, and we’re excited to be a part of it!
In the aviation manufacturing industry, B2B payments can be complex and involve multiple parties, including manufacturers, suppliers, distributors, and service providers. The industry also requires compliance with strict regulations and oversight from government agencies.
Traditionally, B2B payments in the aviation manufacturing industry have been made using checks, wire transfers, and automated clearing house (ACH) transactions. However, in recent years, there has been a trend toward adopting digital and electronic payment methods, such as e-invoicing and e-payments, as they can provide greater efficiency and security compared to traditional methods. These digital payment methods often use advanced technologies such as blockchain and digital signatures to provide secure and transparent transactions.
Digital payments also enable various automation capabilities, such as invoice matching, real-time tracking, and automated reconciliation of payments. This also allows for better cash flow management and supply chain financing opportunities as well as reducing payment processing costs and reducing the risk of errors and fraud.
The aviation industry is heavily dependent on supplier and manufacturer financing for the production of airplanes; therefore the process of B2B payments is of high importance. Besides digital payments, companies also use financial instruments like Letters of Credit, Escrow and factoring to minimize payment and financing risks.
As technology evolves, B2B payments in the aviation manufacturing industry will likely become even more digitized and automated, making the process more efficient and secure for all parties involved.
Jon Loveless will be at the booth throughout the expo, so please stop by at your convenience. We look forward to seeing you there!
Our team will be on hand to answer any questions you may have and demonstrate how our platform works!