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Corporates are being forced to rethink their approach to accounting as new technologies disrupt the way firms transact and manage financial data. But, tools like electronic payments and cloud accounting software are far from the only forces that alter the corporateaccounting landscape.
It seems an especially low number when considering this stat: Only 3 percent of companies meet customer demands for instant business-to-consumer (B2C) payments. Stepping back from the granularities of B2C and B2B payments, though, the executive said the groundswell of faster payments is inexorable. Why B2B Lags. The Larger Picture.
While B2C companies have historically been leaders in customer experience innovation with the help of large investments in talent and technology, B2B companies are starting to understand how critical it is for them to follow suit. The features of the Digital Commerce Cloud for B2B offering include: Corporateaccount management.
That’s especially true in corporateaccounting, says Beanworks CEO Catherine Dahl. It’s an interesting time in accounting, and there’s a huge change coming,” she recently told PYMNTS, adding that digitization will become the norm, empowering humans to take on more strategic tasks while technology handles the repetitive stuff.
The largest round of the week went to OakNorth , but other significant investments landed at supply chain management, corporateaccounting and small business finance players, totaling more than $821 million in total VC funding. Today, the company said, its B2B operations account for 70 percent of the firm’s net revenue growth.
The newest PYMNTS eBook is full of expert insight into the future of B2B payments, from commercial cards to accounts receivable. That, said Cloud Elements Head of Strategy Ross Garrett, means the B2B payments industry needs to step up to the plate and perhaps even start acting a bit like B2C payments.
Investors also took a liking to accounting technology, alternative small business finance and eProcurement, with B2B FinTech startups raising more than $107 million in all. million to the company that deploys machine learning to accelerate supplier payments in the accounts payable department. In all, Previse raised $6.8
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