Intuit Expands Availability of QuickBooks Business Network for B2B Payments

Intuit has expanded the availability of its network that accelerates and automates B2B payments.

The Intuit QuickBooks Business Network is now available to millions of small- to medium-sized businesses (SMBs) in the United States, the company said in a Tuesday (Jan. 17) press release.

“With the QuickBooks Business Network, we’re innovating to address age-old challenges small businesses face when it comes to B2B payments, 70% of which are still paper- or check-based in the U.S.,” Rania Succar, senior vice president of Intuit QuickBooks Money Platform and CEO of Mailchimp, said in the release.

PYMNTS research has found that, in the face of a predicted recession, businesses are scrambling for working capital and cash flow management solutions that can help them get paid, as well as pay their vendors faster and more seamlessly.

Nearly one in three executives said they are not fully satisfied with their organizations’ current bill payments ecosystem, and nearly two in three expected to integrate B2B payment innovations into their operations in the new year, according to “The One-Stop Bill Pay Playbook,” a PYMNTS and Mastercard collaboration.

There is a long-term arc toward the consumerization of B2B payments, and the evolution must happen over the next few years and in the tools that corporates use today, Mastercard Executive Vice President of Business Solutions Chad Wallace told PYMNTS’ Karen Webster in an interview posted in May 2022.

“We have a great experience where I can basically do everything I need to on my iPhone,” Wallace said at the time. “Why can’t that be as easy in corporate America?”

With the Intuit QuickBooks Business Network, eligible QuickBooks Online users in the U.S. can find and connect with one other on the network and then, once they are connected, send and receive invoices and payments within QuickBooks, according to the press release.

Businesses using the network can also simplify and streamline administrative tasks by leveraging accounts payable (AP) automation to more easily review bills, approve them and add them to their books, the release said.

“Our FinTech expertise and payment industry leadership enable us to bring new, powerful automation to small business B2B payments,” Succar said in the release. “By reducing manual work and accelerating the time it takes to get paid, we can help small business owners better predict and manage cash flow.”

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