Cross-border business-to-business (B2B) payments have always been troublesome for businesses involved in foreign trade. Core issues around timing, certainty, cost and visibility mean there should be a healthy market for alternatives to using your bank’s vanilla international payment service, but none have captured significant share of the market.
Recently a plethora of new initiatives and solutions have come to market, but how does a corporate choose? What factors are in play?
Our seven minutes of fame! Industry Editor Erin Oswalt chats with Sibos’s Steven Chia and payment expert Ed Adshead-Grant about the complexity of the payment industry, cybersecurity, regulatory changes and more.
As organizations bear the daily burden of protecting their payments, one question looms large: what can be done?
Strategic Treasurer’s Craig Jeffery asked that and more when he spoke with security and business payments experts from Bottomline Technologies, a leader in business payment automation technology for more than 30 years.
For a business to achieve truly sustainable success, every single aspect of the organization has to function as effectively as possible. You can offer the best products and services in your industry and have a killer sales and marketing plan to back it up, but unless your behind the scenes business practices are buttoned up (particularly your payment practices), all of your efforts will struggle to achieve your desired levels of success.
Here are 5 steps to create an effective payment strategy that will make your business more competitive…
Consider this: the only business tool used by Madison Avenue ad agencies in the 1960s that is still in use today, are the checks sitting on your desk. Nostalgia might make for great television, but it doesn’t mix well with banking.
“You build your future. It isn’t handed to you.”
That’s what Francis J. Underwood, the ferocious political titan from House of Cards, would say about devising an effective payment strategy that promotes your business’s success.
He’s right. Success doesn’t just materialize. It takes hard work, dedication, and most importantly, a certainty that every single aspect of your business is working as effectively as possible.
If you’re battling with international payment processes, you’re not alone.
The processes behind sending payments to different geographies are challenging, time-consuming and relentlessly frustrating.