Today in B2B payments, Bryzos CEO Shep Hickey and ChemDirect President Dave Haase say firms in smokestack industries are moving to modernize B2B trade, OpenEnvoy CEO Matthew Tillman explains how automated payables solutions can save $400 per invoice and Freightos CEO Zvi Schreiber notes that firms in the freight ecosystem will be missing out if they lack digital connection. Plus, papmall allows businesses to send cross-border payments to freelancers.
Industrial Marketplaces Eye Trillion-Dollar Payments Opportunity
Many of the smokestack industries that supply basic raw materials are in whipsaw mode as supply chains remain pressurized and interest rates and pricing remain in flux. Bryzos CEO Shep Hickey and ChemDirect President Dave Haase told PYMNTS’ Karen Webster that there’s a growing movement by firms in the steel and chemical industries (their platforms’ respective focal points) to digitize and modernize B2B trade during uncertain times.
AP Automation Can Save Finance Teams $400 an Invoice
Automated payables providers that use artificial intelligence (AI) and machine learning (ML) to scan invoices at scale for duplicates help organizations minimize the heavy lift associated with paying the right amount on the right invoices, and they do it in real time, so overspending is eliminated. OpenEnvoy CEO Matthew Tillman told PYMNTS’ Karen Webster that the cost savings are significant, as OpenEnvoy saves some of its multinational clients as much as $400 an invoice.
Book and Pay Experience Transforming Global Logistics
While consumer-focused websites offering comparison shopping and transparency have been around for decades, many activities in the massive international freight ecosystem are still done offline. Freightos CEO Zvi Schreiber told PYMNTS’ Karen Webster in a recent interview that “the companies that don’t have the automation and the digital connection are the ones who will be missing out.”
B2B eCommerce Firm Papmall Debuts Cross-Border Freelance Payments
B2B eCommerce platform papmall has upgraded its services to allow businesses to send cross-border payments to freelancers. The updated platform will accept international payments as all major debit and credit cards supported by processors that include Visa, Mastercard, American Express, JCB, PayPal eWallet and Diners Club. It also accepts crypto payments.
Tech, Collaboration Help CFOs Create Value
Mergers and acquisitions (M&A) can destroy value if done wrong but can create something new and better when done right. Dotmatics Chief Financial Officer Rebeca Sanchez Sarmiento told PYMNTS in a recent interview: “I love working in transforming businesses. There’s nothing more gratifying than seeing things kind of come together.”
Connected Cars Unlock New Fleet Payments Use Cases
As businesses look to update their fleets, the benefits of connected vehicles are likely to make such technology the new normal for fleet operations. Already, 86% of surveyed operators of connected fleets said they’ve received a return on their investment within one year due to reduced operational costs, as reported in the “B2B and Digital Payments Tracker®,” a PYMNTS and American Express collaboration.
Metaverse VP Bails to Lead Stripe’s Revenue and Financial Management
Vivek Sharma, who was a vice president of Meta’s virtual reality (VR) social platform Horizon Worlds, is now over at Stripe working on a new product team. Sharma is Stripe’s new head of revenue and financial management and is collaborating with a new team developing products aimed at helping businesses manage, track and analyze their revenue, according to his Friday (Oct. 14) LinkedIn post.
For all PYMNTS B2B coverage, subscribe to the daily B2B newsletter.
We’re always on the lookout for opportunities to partner with innovators and disruptors.
Learn More