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Payments on your terms

Your buyers have reasons to rejoice. Availability of both accounts payable software and 3rd party AP providers is increasing – and they’re making paying bills both easier and a source of revenue generation. But suppliers are getting squeezed. 

With Gartner predicting that, by 2025, 50% of buyers will use AP providers to handle their payments and Accenture projecting that B2B card spend will be $355 billion by 2022 (2), suppliers are facing a major challenge in the coming decade.

But advanced accounts receivable practices can optimize the benefits of card (quicker invoice-to-cash time) and rebalance payments agency in favor of suppliers.       

  • Negotiating with financial institutions at the onset of the card onboarding process can help get supplier payment preferences honored.
  • Calculating the cost of acceptance of all channels of payment can help suppliers be more strategic in setting their payment preferences.
  • A customer segmentation strategy allows suppliers to better meet each buyer’s needs and nurture unique business relationships. 

These smart AR practices can be best achieved by utilizing accounts receivable (AR) automation and supplier-driven payments solutions.

We at Billtrust have spent almost 20 years striving to perfect accounts receivable through software, services and automation. The greatest challenge of accounts receivable as we see it today is optimizing cash flow while accommodating customer payment preferences. 

In this paper, we will explore the current B2B payment landscape across paper checks, credit cards and ACH and unpack the powerful dynamics between buyers, suppliers and AP providers. We will describe AR best practices that suppliers can employ to get their payment preferences honored while still satisfying their customer’s needs, and conduct an overview of the role accounts receivable automation and new payments technology can play in leveling the playing field.