The digitalisation of B2B processes and payments offers significant opportunities for corporates and other stakeholders in the B2B payments value chain.

SAN FRANCISCO, CALIFORNIA, UNITED STATES, June 14, 2023/EINPresswire.com/ -- San Francisco, California and London, United Kingdom: Edgar, Dunn & Company (EDC: www.edgardunn.com), the independent, global strategy consulting firm specialising in payments and Fintech, today announced the publication of its industry leading whitepaper on the 7 best practices to capture opportunities in the fast-growing $137 trillion global B2B payments market.

Over the past decade, Business-to-Business (B2B) payments and their processes have become increasingly digital. Covid-19 has acted as a catalyst to further accelerate the digitalisation of both Accounts Receivable (AR) and Accounts Payable (AP).

Due to Covid-19, the size of the global B2B payments market decreased by 4% between 2019 and 2020 and the recovery has been slowed by the conflict in Ukraine. However, the market has experienced a strong rebound and EDC estimates that the global B2B payments market will grow from $113 trillion in 2023 to $137 trillion in 2027 with a compound annual growth rate of 5%.

“The digitalisation of B2B processes and payments offers significant opportunities for corporates and other stakeholders in the B2B payments value chain. The B2B payments market is undergoing significant changes, driven by substantial investments and the level of innovation of new digital solutions. This drives changes for many use cases in B2B payments, including but not limited to B2B e-commerce, B2B marketplaces, B2B money transfers and supply chain payments. From our perspective at Edgar, Dunn & Company, it is important for payment providers to understand key payment-related pain points and then leverage the 7 best practices we have identified to develop a successful B2B payments strategy” – Greg Toussaint, Director at Edgar, Dunn & Company

In this context, Edgar, Dunn & Company (EDC) has conducted a compelling research study to understand the current state of B2B payments and the payment-related pain points that corporates and SMEs (Small and Medium Enterprises) face. The study is based on more than 150 interviews with stakeholders in the B2B payments value chain: corporates, issuers, payment schemes, payment gateways, acquirers, procure-to-pay platforms and Fintech companies. From these interviews, EDC has identified payment-related challenges that corporates and SMEs encounter as well as the following 7 best practices for payment providers to implement for a successful B2B payments strategy:

1. Address pain points with smart use of technology
2. Develop a balanced value proposition for buyers and suppliers
3. Create partnerships for a stronger value proposition
4. Propose a modular ‘all-in-one’ / ‘end to end’ and flexible value proposition
5. Leverage indirect sales channels to increase reach and exposure
6. Facilitate the integration of payment solutions with existing B2B platforms
7. Quantify the benefits of investment in B2B payments

Get instant access to Edgar, Dunn & Company’s “7 best practices to capture opportunities in the fast-growing $137 trillion global B2B payments market” whitepaper here. EDC has a strong track record working with corporates and payment providers across the B2B payments value chain on strategy work including company corporate strategy, product development strategy, market entry strategy, profitability analysis, product benchmark assessment and market research. EDC would be pleased to discuss further about B2B payments and assist your specific needs by leveraging our B2B payment expertise and the insights from this research. Link to the whitepaper: https://www.edgardunn.com/reports/7-best-practices-to-capture-opportunities-within-the-fast-growing-137-trillion-global-b2b-payments-market

About Edgar, Dunn & Company: Edgar, Dunn & Company is a global consultancy specialising in payments and financial services. Since 1978, we have partnered with clients across the globe and developed an unrivalled depth in specialist expertise.

We offer a truly independent voice and our vision is to be the most trusted global payments consultancy. Today, we serve clients in over 45 countries through our global office network in North America, Europe, Middle East and Australia.
www.edgardunn.com

Greg Toussaint
Edgar, Dunn & Company
+33 6 70 26 99 25
gregoire.toussaint@edgardunn.com
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