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For digital laggards, the coronavirus pandemic will serve as a harsh wake-up call regarding the importance of digitization and automation, with commercialcards uniquely positioned to address many of the pain points companies face today in these unprecedented times. A Surge In CommercialCard Interest.
19) announced in a press release that it is adding a new solution to its WellsOne Virtual CommercialCard , enabling business customers to digitally pay invoices to suppliers and others. Each cardpayment is then assigned a virtual number tied to a commercialcard account.
Third, where can a commercialcard program deliver sustainable value in the organization’s overall payments equation? For instance, are there certain types of payments where a commercialcard solution makes sense, and if so, how can that be leveraged? Charting The Course. Is working capital its main driver?
But as service providers find opportunity in mitigating friction associated with employee purchases, Hoag noted that the true opportunity lies not in the payment itself. The Payment Isn’t the Problem. What’s changed in the last 10-15 years, he continued, is the culture of employee purchasing.
While FinTechs are offering a greater variety of solutions to business users than ever before, corporate finance chiefs and treasurers still turn to their banks first to improve their B2B paymentsstrategies. Beyond the Payment.
Strategic Treasurer and Bottomline Technologies recently published a joint report on the B2B payments landscape: B2B payments + WCM Strategies. But how businesses reshape their payment practices varies. Two-thirds said they operate in more than one country, and a third said they have a presence in more than 20 countries.
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