Ready for Online B2B Payments – What’s Next?
Even if online B2B payments are a perfect solution for your business, you may wonder about the effort and/or expense involved with ditching paper checks. The answers vary, sure. But the right payments provider will:
- Do the legwork to convert suppliers from check to electronic payments for you. They may also offer technical support to your suppliers. So, if suppliers have payments questions or need help using the online self-service portal, they’ll have someone to call.
- Provide payments software that’s intuitive and user-friendly, so your AP team can easily adopt this new way to pay suppliers.
- Help you maximize online B2B payment rebates (often earned through virtual card payments) so you can actually offset any startup/licensing fees.
You’ll Gain More Control with Online B2B Payments
While it may seem counterintuitive, you’ll actually gain more control when automating payments, versus keeping them in-house. That’s because you’ll have more visibility into what’s paid, when it was paid, and who paid it. All of those details should be available online at a glance. No running down the hall to ask questions or going through piles of paper.
Moreover, with many B2B payments companies, you’ll be able to decide who gets paid through the automated payments vendor and who doesn’t (you may have a few vendors you’d like to still pay in-house).
So, if you need more control, and any of the above apply, you may want to start the journey towards electronic payments sooner rather than later.