Spenda – helping businesses work smarter and get paid faster
Fintech Australia
4 July - 2 min read
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. This leads to the formation of business silos and isolated systems, resulting in inefficiency and high costs. Traditional approaches to invoice management and payments also tend to be labour-intensive, time-consuming, and prone to errors.
Related Articles
Your franchise network likely has strong systems and processes to ensure that your franchisees have everything they need to succeed. But if you’ve had these systems in place for a number of years, particularly if they are manual or disjointed, it could be hampering growth across the network.
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.
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.
