Laying 5 e-Commerce Myths to Rest

Once seen as secondary to in-person sales, the e-commerce channel has rocketed to the forefront since 2020 and is now a key purchasing gateway for many corporate buyers.

Despite this, misconceptions abound, with a number of B2B companies telling us that “customers aren’t ready” and “e-commerce is an immature space for businesses like ours.”

McKinsey & Company’s latest B2B Pulse helps put these notions squarely to rest. Not only are corporate buyers open to e-commerce, two-thirds now rely on digital and remote channels throughout their purchasing journey. While some B2B companies see e-commerce as the purview of cutting-edge tech players, the reality is that suppliers across industries are ramping up their capabilities at astonishing speeds.

The conventional wisdom around B2B e-commerce is due for a reset. These charts expose five prevailing myths.

Read the McKinsey report HERE.

Paper Checks Still Dominate B2B Payments

A recent Mercator Advisory Group report takes a look at the usage of paper checks and how they still dominate in the b2b payments industry.

NACHA’s Payments Innovation Alliance Announces Release of White Paper: “The Future of Corporate Payments”

Virtual-Strategy Magazine

“The Electronic Payments Association’s Payments Innovation Alliance announced the release of its first white paper. The paper, entitled The Future of Corporate Payments, takes an in-depth look at the evolving landscape of corporate payments, providing an overview of corporate payment developments and the challenges and opportunities these developments present to financial institutions.

The white paper explores advances such as mobile B2B transactions, real-time payments and data standards, and the ways in which corporates are utilizing these products and services. The paper also outlines the challenges and opportunities financial institutions are now facing in meeting the needs of corporate customers as they relate to small to medium enterprise (SME) banking, straight-through processing, utilization of ACH payments, international payments and standards, and electronic invoicing. Additionally, the paper raises a number of strategic questions around corporate payments that financial institutions should evaluate to help ensure they are prepared for the current and future needs of corporate customers.”

read more>>
From