AR, AP leverage smart cash flow platforms

Today in B2B payments, smart cash flow platforms are essential for Accounts Receivable (AR) and Accounts Payable (AP), while CreditQ partners with Tally to deliver business credit enhancements. Additionally, traders can’t agree on which verification method is most important to their businesses as MarketFinance seeks to leverage its profitability from 2021.

Smart cash flow platforms are key to AR/AP’s ‘seismic shift’

Before automation started to take hold in the accounting departments of the commercial landscape, a human had to go through every invoice, determine if it was accurate, see if it had already been manually paid, enter it into a ledger, and find a checkbook and a stamp. . When the first automation solutions hit the market, they streamlined some manual steps, but still relied on static information. Traditional automation, now called robotic process automation (RPA), removes manual tasks – for example, reading an invoice number from a piece of paper and entering it into a field in an enterprise resource planning system (ERP).

CreditQ launches business credit enhancements through partnership with Tally

CreditQ business credit management web portal has integrated with Tally to launch a business credit management feature to support business growth and cash management, helping to deploy a credit management feature to businesses for small businesses, tracking and controlling digital transactions between businesses. CreditQ specialists compile credit and default reports and interface with accounting software to provide accurate credit, defaulter and defaulter information. Additionally, automatic payment reminders are sent to buyers, reminding them of payment deadlines.

19% of merchants rely on multiple verification methods to review new business partners

When 150 executives were asked which of 12 partner verification methods was the most important, about one in five said “all of the above,” according to “Risk and Resilience,” a PYMNTS and TreviPay collaboration that surveyed executives. business executives with $10 million to $1. billions of dollars in annual revenue. PYMNTS research found that due to concerns about fraud in the new digital environment, three-quarters of retailers, manufacturers and marketplaces plan to implement better tools to detect fraud, protect themselves against false flags and make data integration and management less problematic.

Tenfold increase in borrowing pushes UK B2B lender market to profit

MarketFinance saw its business achieve profitability in 2021, with revenue increasing by 133%. It hopes to capitalize on this growth by developing loan application programming interfaces (APIs) and is “significantly investing in integrated finance models.” The company’s growth was fueled by the growing demand for working capital by small businesses during the pandemic and aided by MarketFinance’s launch of the Coronavirus Business Interruption Lending Program (CBILS) loans backed by the government and its accreditation as a Delivery Partner of the Recovery Loan Program (RLS).

Oro launches the long-term support platform OroMarketplace

Oro, maker of B2B e-commerce platform OroCommerce, will host a live demo on Tuesday, April 5 of its OroMarketplace Long Term Support release, which will add an adaptable infrastructure and comprehensive functionality for B2B merchants, including account management. vendors and integration workflows, as well as streamlined digital tools. Product upload and approval adds clear processes for operators and vendors, helping vendors prepare to sell to market and manage products seamlessly, and order splitting adds automated tools for organization and follow-up of orders.