Welcome to the third and final blog in this series covering the details about the perfected B2B payments experience. The data is from our most recent research report, The Data Is In: B2B Buyers Are Clamoring for Better Payments, which we conducted in partnership with Murphy Research.
If you haven’t read the first two blogs in this B2B sales strategy series, we suggest you start there.
- B2B Sales Strategy: Where Buyers Say Sellers Are Falling Short
- B2B Sales Strategy: What Buyers Say They Really Want
The Three Cs of Perfected Payments
We’ve said it before, and we’ll say it again: loyalty begins at the payment. For business customers, the payment experience is a key part of the purchasing process. A slow, laborious and inefficient B2B transactions process can result in abandoned purchases and lost business.
B2B buyers know exactly what they need—and want—from their B2B transactions. Let’s take a closer look at what they told us.
1. Buyers want B2B payment method choices.
The top two methods are trade credit (also called net terms) and credit cards, but other options, such ACH and wire transfer, are also important. In many cases, corporate policies dictate which B2B payment method must be used, and business customers must find suppliers that accept the method they need to complete their purchase.
2. B2B buyers want convenience.
This means a fast, frictionless and omnichannel onboarding and payments experience or a quick integration into an ERP.
3. B2B buyers want customization options.
One-size-fits-all invoicing doesn’t work in today’s increasingly digital world. For example, some buyers require fields to capture PO numbers, serial numbers, VINs or other essential tracking details. Other buyers prefer having scheduling options for invoices. In other words, today’s B2B sellers need a payments solution that is modern, flexible and easy to configure on a client-by-client basis.
TreviPay Provides the Perfected Payment Process
TreviPay’s B2B payments and invoicing platform provides everything business customers really want, delivered at scale.
- Efficient Processes that can propel a B2B company into the next stage of digital transformation
- Easy Onboarding with an all-digital, automated trade credit application and approval process
- Payment Choice: Trade Credit or Net Terms, Credit Cards, ACH, Wire Transfer and Direct Debit, all in 18 currencies
- Trade Credit Available to give business customers access to the net terms they need
- Accurate Invoices thanks to smart automation that eliminates common manual errors
And We Can Make It All Happen Quickly
Digital payments have accelerated and so have we. At TreviPay, we’ve done the heavy lifting so a new payments solution can launch into the market fast.
- A modern collection of APIs and webhooks that make it easy to integrate with even the most complex systems, including integration directly into buyers’ A/P systems via XML, EDI or CXML
- TreviPay also supports a growing library of pre-built eCommerce and marketplace integrations, including Mirakl, Spryker and Adobe Commerce (Magento), empowering businesses to unlock the full potential of their online experience
Get the Full Report
This blog series is an introduction to the key findings in The Data Is In: B2B Buyers Expect a Better Payments Experience. In this comprehensive report, we take a deeper dive into many topics, including:
- Top 3 Barriers to New Buyer Onboarding
- The Business Consequences of Inefficient Payments
- B2B Buyers’ Most Important Seller Features
- Top 7 Drivers of B2B Buyer Loyalty
- The Perfected B2B Payments Experience
