Small- to medium-sized business (SMB) payers and suppliers often encounter a mismatch between the ways the two players want to make and receive payments — a potential source of continuous friction in the B2B ecosystem.
For the SMB payers, the four most cited issues that they typically face when making payments are manual invoice review, high payment and credit costs, time wasted during payments processing and a lack of financing alternatives. That’s according to “The Future of Business Payables Innovation,” a PYMNTS and Plastiq collaboration based on a survey of 500 SMBs with revenues between $500,000 and $100 million and accounts payable (AP)/accounts receivable (AR) executives with SMBs as clients.
Solving the Mismatch Between Buyers, Suppliers
Tech-driven, all-in-one platforms solve the mismatch between buyers and suppliers and foster collaboration between enterprises where friction once reigned, Plastiq Chief Operating Officer Stoyan Kenderov told PYMNTS in an April interview.
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