B2B payment leaders must focus on strategic accounts receivable automation and quality partnerships to optimize the digital payments experience, safely extend net terms, inspire long-term customer loyalty and improve working capital management.
With the right support and back-office innovation, A/R teams can be fully equipped for the future of payments.
The new data finds automation frees up working capital while improving accounts receivable workflows, human capital and the customer experience.
A few key findings:
Chronic invoice and billing inaccuracies increase DSO and trap capital. Manual invoice data entry processes and unique billing requirements create a recipe for invoicing mistakes and further payment delays
Inefficient administrative processes consume department time and resources. 63% of salespeople’s time is focused on activities other than selling — meaning only 37% of a sales team’s time is spent actually bringing in new business.
A lack of time and capital degrades the customer experience. For over half of B2B finance employees (56%) it takes more than four days to onboard a new customer when providing net terms.
Download our new A/R automation and working capital management data report to learn more.