September 30, 2015
B2B payments have been known to be inefficient and expensive. Customers believe that there is an immense need for streamlining of settlements and reconciliation of business commerce. The current challenges are poor working capital optimization, zero cash visibility and friction in buyer-supplier relations.
In this article, we will discuss 13 companies that are coming up with innovative services addressing the $250-billion B2B payments market.
AribaPay is a cloud-based B2B payments solution unveiled by Ariba, a SAP company and Discover Financial Services. It has a track & trace element which gives a real-time view of the status of a payment. It allows full integration of ordering, billing and settlement processes between buyers and sellers. Early closing of the procure-to-pay loop from buyers to suppliers is made possible using AribaPay. Ariba’s cloud-based service combines the insights and applications embedded in the Ariba Network and delivers them through a secure payment infrastructure.