Previse’s Post

After suffering through decades of difficulties and delays when transacting with each other, businesses on both sides of the B2B relationship are ready for a better approach to payments. Speaking with PYMNTS, our CEO Paul Christensen discussed the outdated B2B payments system, saying, “It is 2024 and we are still licking stamps and putting checks in the mail - that’s mad.” Previse’s innovative product SmartPay leverages data and machine learning technology to allow businesses to get paid as early as day one, without having to lick a stamp: https://previse.co/en-gb/ Read Paul’s full thoughts and more about how the B2B payments space is transforming here: https://lnkd.in/dH3-d59g #B2Bpayments #fintech #data #technology #innovation #AI #machinelearning

As Sergiy Fitsak points out in his Finextra blog, FedNow’s journey from conception to its current state reflects a significant advancement in bringing the US payments system up to speed. However, as he explains, the exploration into B2B payments remains a significant opportunity, promising to offer businesses unprecedented control over their financial operations. This presents an opportune moment for fintechs to capitalize on the transformative future of B2B payments. Previse is one of these fintechs leading the way in revolutionizing B2B payments. Previse’s SmartPay leverages data and technology to remove friction from B2B payments and ensure suppliers get paid as early as day one: https://previse.co/en-gb/ Read more about how FedNow is helping bring about a change in US payments: https://lnkd.in/ewxqPaZN #FedNow #B2Bpayments #AI #technology #workingcapital

At this year’s Merchant Payments Ecosystem conference, Kevin Baker, CFA, EMEA Head of Merchant Services at Bank of America, sat down with Finextra to discuss the evolution of the B2B payment system. Kevin described how globalisation has caused supply chains to become much more complex, resulting in the demand for more digital payment methods. He notes that adoption “hasn’t quite caught up to what we've seen in the consumer space but is very much a trend to help treasurers meet their goals of managing working capital more effectively.” Previse’s solutions meet these demands by leveraging data and technology to enable a seamless payment process. Learn more at: https://previse.co/en-gb/ Click below to see the full discussion: https://lnkd.in/gRfeAvtU #MPE2024 #B2Bpayments #supplychain #workingcapital #treasury #AI

The traditional B2B payment process, often characterised by mechanisms like paper checks and manual invoicing, is fraught with inefficiencies, causing a drain on staff and capital and ultimately meaning suppliers are paid later. A recent PYMNTS Intelligence report found that 76% of firms believe that buyers are more likely to pay on time when they pay electronically. To stay ahead of the curve - and maintain good buyer-supplier relationships - firms must embrace a culture of continuous improvement and adaptation. Previse’s SmartPay leverages smart data and AI to ensure suppliers get paid as early as day one: https://previse.co/ Read more about B2B payments innovation: https://bit.ly/4bLiH2i #B2Bpayments #innovation #digitsation #digitalisation #technology #AI #data

New research has revealed that the supply chain finance market is set to more than double over the next decade. A report by Research and Markets found that the global supply chain finance market is set to reach a value of $26.3 billion by 2033, up from $11.5 billion in 2023. This follows blistering growth in the five years prior, rising from around $6.8 billion in 2018. Going forward, this expansion is expected to be driven by a few major factors including the expansion of fintech solutions. Previse is helping to power this growth, by delivering innovative solutions to ensure supply chains maintain stability. Previse’s SmartPay helps suppliers to get paid on time, whilst allowing buyers to track their suppliers’ financial health, building strong and trustful relationships. To find out more, or book a demo, visit: https://previse.co/en-gb/ Read the full report here: https://lnkd.in/ewChrrKF #fintech #payments #supplychain #technology #innovation

Agility and efficiency are key in the digitized business landscape. That’s why businesses of all sizes are turning to digital solutions to streamline their invoicing and payment processes, according to Kevin Baker, CFA, Head of Merchant Services for EMEA at Bank of America. The speed of payments facilitated by digital solutions accelerates working capital management, offering businesses greater liquidity and financial flexibility. At Previse, our solutions combine smart data with technology to get suppliers paid as early as day one, giving suppliers greater working capital and allowing them to remain agile and navigate this uncertain climate. Learn more about Previse’s solutions here: https://previse.co/en-gb/ Read more about the digitization of invoice payments in PYMNTS: https://lnkd.in/e2ZnDPCU #workingcapital #B2Bpayments #digitization #technology #innovation

B2B companies often use a variety of different financial systems and payment methods, which sometimes are not suited to modern technology. This can lead to fragmentation and isolation and businesses can miss out on the crucial opportunity to leverage this technology. Previse’s SmartPay solution is different, allowing full integration with existing payment infrastructures and ensuring suppliers can enjoy the benefits of AI & smart data and get paid as early as day one. Check out SmartPay here: https://previse.co/en-gb To read more about B2B payment system interoperability, visit PYMNTS: https://lnkd.in/epEabr8H #interoperability #AI #data #innovation #technology #b2bpayments

In an article for The Fintech Times, Marcos Gelfi, head of global commercial products and cardholder services at Discover Global Network, shared his insights on how virtual card numbers are revolutionizing commercial payments. He believes that VCNs are set to experience growth within the B2B space due to their ability to: ✅Strengthen security ✅Provide transaction data ✅Simplify payments for corporations Previse’s SmartPay delivers this and more, streamlining payments so funds can be sent as early as day one. Learn more at: https://lnkd.in/g4af6afX Uncover more on the evolution of VCNs at: https://lnkd.in/ejCVKFC6 #virtualcards #B2Bpayments #invoicing #suppliers

Writing for PaymentsJournal, Tom Nawrocki shares the myriad of benefits for businesses that commit to an automated payments process. Automation of payment processes allows accounts receivable and accounts payable functions to grow, helping companies maintain tighter control of their capital and avoiding cash flow squeezes. Previse’s SmartPay uses smart data and AI to automate the payment process to help track unnecessary spending and flag potential breakdowns and challenges in processes: https://previse.co/en-gb/ Read more about the benefits of automating payment processes here: https://lnkd.in/e7ECw5tY #payments #automation #tech #innovation #cashlow #b2bpayments #fintech #technology #smartdata #AI

Whilst no business would intentionally restrict cash flow, limit working capital or jeopardize long-term profitability, even well-established companies may inadvertently be ignoring best practice when it comes to B2B payments. In a recent article for Forbes, Dean Kaplan, President of The Kaplan Group shared seven mistakes that lead to late payments from B2B clients. His list includes: 🔹Neglecting credit checks 🔹Limited Payment options 🔹Not incentivizing timely payments Previse’s SmartPay leverages data and technology to get business paid as early as day one, freeing up working capital and promoting long-term profitability: https://previse.co/en-gb/ Read Dean’s complete list here: https://lnkd.in/eEMpkUZX #B2Bpayments #AI #data #machinelearning #innovation