Integrated Payment Solutions for Better Business

It might (or might not) surprise you that many B2B businesses are still using outdated payment methods like paper checks for their accounts payable (AP) processes. In fact, according to a study from PYMNTS, “25% of B2B payments are made via paper checks.”

The B2B eCommerce space is in full swing with a fast and productive 2022 so far. The latest edition of Lunch Bites discusses how businesses can overcome limitations in B2B sales by leveraging integrated eCommerce solutions that help buyers in our new “socially distanced” world.

Small to medium businesses (SMB) across the U.S. are still feeling the ripple effects of the pandemic with supply chain issues, rising interest rates, growing inflation and uncertain economic conditions. As we approach 2023, inflation is the primary concern.

In the age of technology and digitized processes, paper checks are gradually becoming a thing of the past. They were once one of the dominant payment methods, but today, roughly only 7% of consumers pay bills with paper checks.

At REPAY, we strive to provide fast, frictionless and fully integrated digital payment solutions for AccountMate users. We are committed to leveraging technologies and providing solutions that streamline payments while providing industry leading support to keep your business running smoothly.

Acumatica Summit is a “can’t miss” event that every Acumatica user and partner should attend. The event provides a great opportunity to network with the Acumatica community members and to learn about solutions that can help you get even more out of Acumatica.

Payment fraud has been rising for years as fraud schemes become easier to execute. The increased reliance on digital platforms, processes and payments has given fraudsters more ways to commit crimes. Studies show that in 2023, businesses’ cost of fraud could rise by $7 billion, bringing the total to $48 billion.

As the world moves toward digital payments, some sectors have hesitated to shift. For example, when it comes to B2B accounts receivable (AR) and accounts payable (AP), you rarely see digital money transfers. Many businesses are still clinging to the friction-filled legacy systems that require manual processes such as cutting checks and initiating ACH payments.