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From operational necessity to strategic advantage: Why payments are the next area of transformation in the B2B value chain

Author

Listed:
  • Parpou, Maria

    (Barclaycard Commercial Payments)

  • Frost, Luke

    (Barclaycard Commercial Payments)

Abstract

Business-to-business (B2B) commerce encompasses multiple spend categories, supplier types and purchasing channels. Yet the providers of payment solutions for this commerce have been slow to innovate and evolve with client needs. Payments through automated clearing house (ACH) networks and cheques still dominate globally as the preferred payment method, despite their inherent weaknesses, and the growth of card-based payments has yet to challenge this. A number of trends across the broader B2B value chain are creating challenges for buyers and suppliers, whose payment strategy can increasingly be seen as a tool for responding to these changes and creating value. This paper explores the current B2B payments landscape, specifically in the UK, the important trends shaping the industry, and recommendations for how end clients and companies should be optimising their payments strategy accordingly.

Suggested Citation

  • Parpou, Maria & Frost, Luke, 2019. "From operational necessity to strategic advantage: Why payments are the next area of transformation in the B2B value chain," Journal of Digital Banking, Henry Stewart Publications, vol. 4(3), pages 234-243, December.
    • Handle: RePEc:aza:jdb000:y:2019:v:4:i:3:p:234-243
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    More about this item

    Keywords

    payments; B2B payments; commercial payments; procurement; invoicing; supply chain; B2B value chain; e-procurement; accounts payable;
    All these keywords.

    JEL classification:

    • G2 - Financial Economics - - Financial Institutions and Services
    • E5 - Macroeconomics and Monetary Economics - - Monetary Policy, Central Banking, and the Supply of Money and Credit

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