Payments are a Pivotal Enabler of Trust and Transparency in B2B Transactions
Over the last year, as an outcome of business practices forever altered by the COVID-19 pandemic, global B2B payments are experiencing an accelerated focus on digital transformation. Manual processes and payment terms that had served companies adequately quickly became outdated giving rise to the importance of a digital payments strategy.
Provide a Frictionless Buyer Experience, Regardless of Which Channel is Used and What Invoices and Payment Terms are Expected.
B2B eCommerce must be prepared to satisfy customer expectations on cost, convenience, trust and transparency, which boils down to the availability of choices at checkout and how well those payments, payment terms, and other processes are designed, supported and executed. Trust and transparency rank in equal importance with low prices and purchasing ease in B2B transactions.
The 2021 Edition of our Choices at Checkout white paper addresses the “new normal” for B2B payments, payment terms, and other “choices at checkout” represent a crucial feature of this transformation. Low prices and purchasing ease remain absolutely necessary enablers of a thriving B2B eCommerce capability, but they are no longer sufficient now that trust and transparency qualify as equally compelling determinants of competitive advantage.
The Choices at Checkout: 2021 Edition covers these key insights about B2B Payments:
