The ability to digitise and automate business systems and processes has driven the transformation of B2B payments in recent years. From being able to process card-not-present transactions to integrations that make payments and the associated accounting and administration processes seamless, innovation is catching up to B2C channels. Worryingly, however, adoption lags.

As cash flow pressures persist, businesses need to look for smart ways to effectively manage their finances without causing inconveniences for their trading partners

The rise of digitisation in recent years has helped businesses transform the way they work. Whether a company has used automation to make account reconciliation and reporting easier or found ways to optimise other processes, using technology that integrates across a business is what drives truly powerful transformation. 

Accounts Payable (AP) and Accounts Receivable (AR) functions are distinct but interconnected components of the financial process.

Optimising and digitising payment processes and improving customer experiences are vital for businesses wanting to stay ahead of the curve.

Efficient management of accounts receivable is crucial for businesses of all sizes. It serves as the lifeblood of healthy cash flow, enabling businesses to better allocate resources, invest in strategic initiatives, and grow faster.  

The order-to-cash (O2C) and procure-to-pay (P2P) processes are two essential frameworks that help businesses effectively manage their sales, procurement, and payment activities.

Business efficiency is a critical aspect of achieving success in today’s competitive landscape. Investing in technologies that promote business efficiency allows companies to operate smarter, make more informed decisions, and better adapt to changing market demands.

Today, B2B trade faces a significant obstacle as many businesses continue to rely on disparate and unconnected software systems to handle different aspects of their operations.

In today’s rapidly evolving and fast-paced world, only businesses that adapt and innovate survive. The prospect of economic uncertainty can prompt businesses to adopt sweeping cost-cutting measures as a way of surviving, but this often creates more problems and does not address inefficiencies at their cause.

As the leading retail floor covering specialist across Australia, Carpet Court was looking to continue their digital transformation journey to future-proof the business against economic challenges.

In recent years, the payments ecosystem has experienced significant transformation, largely brought on by the emergence of new technologies and the acceleration of digital transformation.