Tag: Technology

Automation and technological advancements have gained a significant presence in everyday credit processes—whether to provide easier ways to receive payments, communication with customers or overall efficiency. However, technological innovations always come with risk.

Breakthroughs in technology over recent decades have ranged from the World Wide Web and personal computers to wireless phones and now apps for everything; all transforming the world we all once knew. Oftentimes, new discoveries and advancements are met with skeptical thoughts.

🎙️ On today’s episode of Extra Credit, we delve into the evolving landscape of the invoice-to-cash process and explore how automation and artificial intelligence are reshaping credit management.

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.

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.

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.

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.