GUIDES & REPORTS
Ardent Partners’ Pulse on B2B Payments in 2024
In this latest report from leading analyst firm Ardent Partners, research reveals the top trends, challenges and strategies when it comes to paying suppliers and other business-to-business (B2B) payments.
The report covers some of the emerging trends of how businesses are handling their payments across multiple rails, and the way technology is evolving to optimize and streamline those efforts. It explores the longterm potential promises of advancements in automation and analytics, such as Artificial Intelligence (AI) and Machine Learning (ML).
Highlights of the report:
- Top strategies to reduce manual or inefficient steps in in B2B payments
- The evolving landscape of ePayments and key trends shaping B2B payments
- The strategies and benefits you can expect for investing in a more prudent payment operation
Download “The Pulse on B2B Payments in 2024” report today to better understand the current state of ePayment operations and understand how you can optimize your own processes to impact bottom-line results.
"37% of CFOs now actively sign off on their AP teams’ strategic plans, reflecting a growing emphasis on aligning payment strategies with broader corporate objectives."
Top 3 challenges within B2B payments
Long Payment Approval Times
Lengthy approval times is the top B2B payments challenge identified by 41% of all B2B payment teams in 2024. This delays payments, impacting supplier relationships and potentially leading to late fees.
Payment Fraud Risk
Ardent Partners research found that 34% of businesses reported a business payment fraud attack over the past year. The entire P2P process is susceptible to fraud, making robust prevention technology essential.
Lack of Visibility into Payment Data
A lack of visibility into B2B payment activity is the third most significant challenge for AP teams (22%) and a major problem for treasury and finance teams, too. This hinders strategic decision-making, potentially leading to financial losses, inefficiencies, and strained relationships.
To better understand why these challenges are so prevalent and, more importantly, how to overcome them download the Ardent Partners report today.