The inaugural event welcomed 250 B2B experts to network, share and connect on important industry topics and buyer needs.
OVERLAND PARK, Kan., October 10, 2024 – After three days of networking and dedicated discussions, the inaugural B2B payments conference, TreviPay Crossroads, has infused a surge of excitement into the industry. TreviPay, the most trusted B2B payments and invoicing network, welcomed 250 industry practitioners and trend setters to Kansas City last week for a carefully curated program of keynotes, expert panels and breakout tracks dedicated to the manufacturing, retail and travel sectors.
“From the amazing speakers and sponsors to the uniquely Kansas City elements of TreviPay’s hometown, we are incredibly proud of the first Crossroads conference,” said Allen Bonde, CMO at TreviPay and the Crossroads conference chair. “Our team and supporting partners worked incredibly hard to deliver a memorable event that’s been missing in the B2B industry. We set the bar high and look forward to future Crossroads events.”
TreviPay Crossroads examined the trends and technologies that will enable businesses to grow by investing in their B2B payments engine. After 35-plus mainstage and breakout sessions from industry experts and top brands, including Best Buy, Air Canada, Mastercard and HSBC, the key themes emerging from the conference included:
- There is an urgency for B2B. As businesses continue to look to scale, it’s clear there is pent-up demand and urgency to better serve corporate buyers by making B2B payments more efficient. IDC’s Research Director Kevin Permenter emphasized this in a panel on the mainstage.
- B2B can learn from B2C, but translating the consumer purchasing experience to corporates is complex. Business buyers want to transact like consumers. But with global invoicing requirements, the need for purchase controls and multiple stakeholders involved in a single purchase, creating that consumer purchasing experience is much more complex in B2B. Suppliers can learn from consumer brands that do this well, like Uber and Amazon that have made transacting so simple it is nearly invisible, or Mastercard, which has built a strong emotional brand connection with its Priceless campaign as keynote speaker Nick Utton shared.
- Building B2B payments experience loyalty requires an experience transformation. Customer expectations have shifted towards a more empowered, informed and experience-driven approach. TreviPay’s recent research – available for download here – proves merchants who improve the B2B payments experience can build long-term buyer loyalty through payments choice, convenience and customization. By keeping B2B buyers happy, businesses will see an increase in share of wallet over time, but the impact isn’t immediate. As TreviPay CEO Brandon Spear unveiled during his keynote, revenue per B2B customer grows incrementally over time. Suppliers can expect to grow revenue per customer by 150% after buyers stay with a supplier for 7 years, and that jumps to an incredible 240% after retaining a buyer for 10 years.
- Building a network of strategic partners leads to better buyer experiences. Suppliers should focus on their core business and work with partners to strategically build a composable payments offering that can evolve with their corporate buyers’ needs. Partners that enable suppliers to be sophisticated and agile will better prepare a business for the future. Interconnectedness between business functions is also important to strategic partnership success. For example, as trade credit is a key preference of B2B buyers, sales must understand their organization’s risk tolerance from the credit decisioning team to better offer customized programs as shared by Rissi Lovern, Chief Risk Officer at TreviPay.
- There is no one-size-fits-all in B2B payments. Business buyers have a wide variety of needs, meaning each business and industry requires a tailored approach. For example, government and education offer lucrative sales opportunities but also operational hurdles for many retailers, marketplaces are empowering manufacturing buyers to make savvy procurement decisions. Each industry has its own unique circumstances and buyer preferences.
“What some may not realize about B2B payments is the landscape is evolving more rapidly after being stagnant for so long – through new financial technologies, changing demands and creative cost saving measures,” shared Todd Holzer, Channel Operations GTM Process Manager at Red Wing Shoe Company. “As a result, it’s requiring companies engaging in B2B commerce to up their game in this space. Losing a commercial customer or prospect should never be a result of the invoicing and payment solutions customers expect as a standard price of admission. This event allowed me to validate these trends through panel discussions, expert discussions and good old networking with industry friends!”
TreviPay Crossroads was made possible through the support of its incredible sponsors and partners:
- Gold Sponsors: HSBC, Mastercard and WNS
- Silver Sponsors: Allianz Trade, Dun & Bradstreet, PayTrace, Spryker and UATP
- Community Partner: WeCode KC
- Media & Association Sponsors: B2BEA and Vendorcom
Also commenting on the event’s success, Martha Salinas, Chief Commercial Officer at TreviPay shared: “The conference was an overwhelmingly positive experience. It was vital to make a unique space for B2B payments in the broader payments event and conference landscape. Crossroads brought leaders across industry sectors together to share best practices for serving the lucrative corporate buyer and dissect case studies for growing revenue via the B2B channel.”
To keep up to date with TreviPay’s news and future events, visit www.trevipay.com.
##
About TreviPay
At TreviPay, we believe loyalty begins at the payment. By understanding the diverse and unique requirements of B2B sellers, TreviPay’s global B2B payments and invoicing network enables enterprises to provide payments choice and convenience, open new markets and automate accounts receivables. With more than four decades of experience, TreviPay serves leaders looking to build loyalty while driving efficiency and embracing new digital channels, especially in industries with large distribution networks such as manufacturing, retail, and transportation. For more information, visit www.trevipay.com.
