Global eCommerce activity has surged over the past year, presenting prime growth opportunities for enterprises. These opportunities come with several challenges, however. Enterprises must meet cross-border shoppers’ payment preferences by accepting localized payment methods, accommodate local or regional regulatory requirements, and manage a wide variety of cross-border payment...
Supply chain has certainly been in the forefront lately. One part of that chain is what Factor calls the “first mile” — the processes that move something from theoretical design to physical product. This includes sourcing, scheduling, following up on order status, enforcing order terms...
As digitization makes business-to-business (B2B) payments more like retail payments, buyer and seller experiences improve. For one thing, digitization brings operational efficiency. The capabilities and toolsets that come with digitization enable businesses to grow without growing their support base. There’s also the user experience: Harmonizing...
For a glimpse into the potential that digital transformation holds for B2B commerce, you might not find a better example than the world of buying and selling industrial chemicals. Multinationals get the strategic chemicals they need directly from the manufacturer — through a labor-intensive procurement...
Manual accounts receivable (AR) processes create several significant pain points for businesses. The pandemic is amplifying these problems as firms struggle to reconcile their invoices and minimize their own cash flow crunches. One effect has been significant increases in days sales outstanding (DSO). Investments in automation can alleviate many...
Digital experience platform Optimizely has launched an integrated version of its B2B commerce and content cloud products. “The integration allows these two industry-leading products to be easily implemented together, enabling brands to reach audiences with more sophisticated content strategies and work more effectively across large...
Like consumers, businesses face similar challenges in making and receiving payments in a rapidly evolving global marketplace. Although consumers benefit from increasingly user-friendly ways to manage international transactions, innovation in business-to-business (B2B) cross-border payments has often lagged. Yet, the same points of friction that hinder...
These are trying times for chief financial officers (CFOs) and other finance professionals. The unpredictable economic impacts unleashed by the pandemic have greatly complicated the task of managing cash flow and working capital. To cite a few examples, manufacturers have had to quickly secure relationships...
J.P. Morgan Chase is working with Siemens to create a blockchain system for the latter company’s payments. As the Financial Times reported Monday (Dec. 20), the two companies say this system is a first-of-its-kind application. Siemens says it needs the upgraded automation to process a...
