In a digital-first B2B landscape, data is more than just numbers — it’s a secret weapon.
And the secret is out: for businesses looking to grow, their B2B payments data can often be an untapped asset.
For too long, B2B payments data was treated as an afterthought. Businesses focused on getting paid and paying on time, while the data buried in those transactions was left alone or deemed too complicated to integrate and unlock. But times have changed.
Today, companies are finding that payments data holds the key to not only optimizing internal processes but also creating stronger, more efficient supply chains, while at the same time inform better compliance and anti-fraud measures. In fact, it’s becoming clear that payments data can do more than just drive cost-savings, it can be a strategic asset and growth driver.
After all, business growth doesn’t just come from signing bigger deals or landing more clients — it also comes from working smarter. And new B2B payment mechanisms, like virtual cards and digital wallets, bring with them new information and new data, essentially enabling new business models.
The value of B2B payments data extends beyond the transactional level. From streamlining operations to keeping fraud in check, B2B payments data is reshaping the way businesses function.
See also: AI Prompt Engineering Helps B2B Firms Find Needle in Data Haystack
As companies embrace digital transformation, the wealth of information generated by their payment transactions can unlock a range of benefits that include improvements in daily operations to robust compliance and anti-fraud measures.
One of the most immediate benefits of harnessing B2B payments data lies in the potential for operational micro improvements. Every payment transaction carries a trail of information that can be analyzed to refine processes, increase efficiency and reduce costs.
“Anybody who says we’re all doing a good job with the data we’re generating doesn’t understand the magnitude of the terabytes of data that we’re generating on a daily basis,” Wally Mlynarski, head of merchant solutions and receivables at Bank of America, told PYMNTS. “Whenever there’s a transfer of payment or money, there’s an opportunity to enhance [the process].”
Automated accounts payable (AP) systems and accounts receivable (AR) tools benefit significantly from payments data. By incorporating real-time data from payment platforms, businesses can automate reconciliation processes, reduce errors and minimize the need for manual intervention. These incremental improvements help reduce operational costs and free up resources that can be reallocated to more strategic tasks.
Ernest Rolfson, CEO and founder at Finexio, told PYMNTS that traditional accounts payable (AP) operations often involve “swivel chair” activities, with staff manually entering information across disparate platforms, handling paper invoices and issuing physical checks. This fragmented system increases the risk of errors and slows down payment processes while also preventing AP teams from contributing strategically to the business.
“You can’t manage or improve anything that you can’t measure,” Rolfson said.
Read more: Automating Accounts Payable for Cost Savings
Operational efficiency driven by payments data doesn’t just result in cost savings — it also builds agility.
Companies can better respond to changes in demand, supply chain disruptions or shifts in market conditions, giving them a competitive edge. And B2B payments data provides a comprehensive view of transaction flows, helping companies detect fraudulent activities or identify unusual payment patterns that may signal potential risks, as well as allowing firms to track and document transactions for regulatory reporting.
One of the core challenges in B2B relationships is the lack of transparency, which can lead to disputes over payment terms, delivery schedules or contract adherence. PYMNTS intelligence finds that legacy payments and accounting processes can sow seeds of dissatisfaction in B2B interactions, possibly placing their longevity at risk.
Digital payments data, when shared across partners, brings a new level of transparency to the table. Both buyers and suppliers can have access to a shared view of payment statuses, transaction histories and payment terms. This openness helps to eliminate misunderstandings and creates a foundation of trust that encourages smoother interactions.
More and more companies are realizing that every transaction holds insights that can be mined to optimize decision-making, foster stronger partnerships with suppliers and meet compliance standards more efficiently.
As more companies embrace digital payments and advanced analytics, those that fail to leverage their payments data risk falling behind. The ability to extract actionable insights from this wealth of information not only ensures operational excellence but also drives innovation, agility and long-term growth in an ever-evolving marketplace.
“What I’m most excited about is the future of payments, how quickly it’s moving,” Eric Frankovic, general manager of corporate payments at WEX, told PYMNTS. “Understanding your supplier relationships, what’s best for you as a company, and what best supports your size and growth goals is crucial.”
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