Technology Archive

While the concept of Buy Now, Pay Later (BNPL) isn’t novel in the B2C industry, it’s gaining traction among B2B buyers, reshaping commerce. By the numbers: A Juniper Research report found that in 2023, the B2B BNPL market reached $14 billion in spend globally. 

AI is a rapidly evolving technology that has the potential to greatly benefit various industries and professionals. However, this article aims to clarify several common misconceptions about the use of AI in B2B credit and related industries. #1 “AI will replace my job.” This misconception stems from the widespread fear that AI will replace human jobs, rendering many roles obsolete and leading to significant unemployment. However, this is not the case, as history has shown that innovation such as the move from desktop solutions to client servers or the introduction of Business Process Au…

Notarization ensures the authenticity and integrity of important documents, preventing potential fraud and forgery. With the advent of electronic notarization (or e-notarization), organizations can now have documents notarized in a more efficient, secure and convenient manner. Why it matters: Understanding and implementing e-notarization can streamline the authentication process for vital construction credit documents, enhancing efficiency and reducing potential delays in project timelines. Notarization is a process that authenticates signatures, ensuring signers are who they say they…

Automation is at its all-time high across industries. B2B credit departments are considering implementing new technology and tools to better service their customers. Whether through ACH payments, online payment portals or the help of AI, credit professionals must know the most effective ways to use automation to their advantage. For example, using automation software to complete the more repetitive or mundane tasks can help save time and allow staff to focus on other areas that need attention. According to a recent eNews poll, 17% of credit professionals are looking for an automation …

Private equity (PE) refers to investments made into private companies by partnerships, which buy, manage and sell these companies. These partnerships, known as private equity firms, run these investment funds for institutional and accredited investors. Why it matters: Understanding the role of private equity groups can help predict potential credit risks and inform investment decisions for both institutional and accredited investors. Pros of private equity Access to capital: Private equity groups grant companies access to capital that it may not be able to raise on its own. Sca…

In an era where digital transactions reign supreme, customer payment portals have emerged as a convenient and efficient way for businesses to manage receivables and streamline payment processes. However, while the benefits of customer payment portals are undeniable, their implementation and maintenance come with their own set of costs and considerations for credit departments. Why it matters: Customer payment portals are here to stay, so credit departments must create a strategy to best approach each portal. Some credit managers approach payment portals by assigning one credit mana…

As the volume of accessible data grows, it may be time to rethink approaches to customer research. Gone are the days of relying solely on traditional data sources to paint a financial picture of customers. Why it matters: Social media can enrich research efforts and add depth to your understanding of customers, helping you make more informed decisions. Each social media platform has its own personality. From the casual banter of X (formerly Twitter) to the polished professionalism of LinkedIn, understanding the nuances of each platform is essential for effectively navigating the sea o…

In recent years, credit cards have surged in popularity among customers within the B2B credit industry. Why it matters: Knowing why this trend is happening is critical for B2B trade creditors as it holds the potential to alter financial strategies and influence business operations.