|
Urlx PayPal s One Touch Power Play
E. k& C/ Y3 }+ ]9 R April is the cruelest month, wrote TS Eliot.His calendar was bit off.At least insofar as 2020 has shaped up, and especially where B2B payments have been concerned.March turned out to be bit of a rough path, too.As the pandemic started to lash the globe back then, the necessity stanley italia of doing things 鈥?pretty much everything 鈥?digitally upended the very ways supply chains functioned, buyers interacted with suppliers, and the ways in which those firms paid and got paid.To quote another author, Ernest Agyemang Yeboah, Only those with tenacity can march forward in March. Weve made progress, but progress remains to be made.In a wide-ranging online panel discussion with Karen Webster, five executives across payments and supply chain management offered insight into the pain points exposed by the pandemicThey also pointed to the tenacity and flexibility that has led to te stanley cup ch-driven responses and solutions that will far outlast the pandemic 鈥?and turn vulnerabilities into opportunities.The panel included Kivanc Onan, head of B2B Payments, Financing and Protection, North America for Alibaba; Rob Rosenblatt, CEO of Behalf; Sarfraz Nawaz, Digital Transformation, Supply Chain at Johnson Johnson; Tony Uphoff, CEO of Thomas; and Trish Fisher, senior director, Treasury Operations a stanley canada t WeWork.The Supply ChainsAt a high level, seismic shifts in supply chains lead to changes in the way businesses interact with one another.The rumblings that gave way to the seismic shift began well before March.Up Bynd Chase Payments Reinvents Its Loyalty Program) O$ Z& Q+ i; Y; [7 W3 V! I
The struggle that small suppliers endure to get paid is well documented, but this pain point can be particularly severe for some small service providers. Thats because these companies are often working onsite and in the field, therefore having to issue invoices and accept payment on-the-spot, too.A survey by San Francisco-based technology company Fundbox released in March found聽nearly two-thirds of small businesses are affected by late invoice payments, with 79 percent reporting they can stanley cup t pay themselves because of it. Business owners also expressed an inability to build inventory, invest in advertising or pay for wage increases or bonuses for their employees. Fundbox researchers estimated that small businesses in the U.S. are sitting on $825 billion in unpaid invoices, with the average small- to medium-sized business SMB owed $84,000.As challenging as this scenario is for a small business, these payment delays will only lengthen if a service provider is unable to issue an invoice at the time of service. Separate research from Intuit, the business and financial software company, found nearly one-fifth of small business owners have admitted they forget to send an invoice or to follow up on invoice delinquencies 鈥?with a significant portion unable to accept cards on those invoices.According to Tedd Huff, vice president of product at payment processing company GlobalOnePay, th stanley becher at inability to accept some type of electronic payment when iss stanley termos uing an invoice can add another layer of |
|