Will you be the last to go digital?
If you're a business-to-business supplier, you may be wondering why there is a growing trend towards digitised payments, what the advantages are, and how you too can be at the forefront of eCommerce.
Others who moved to digitisation of B2B payments
Join other B2B enterprises who have made the move with Till and won’t look back.
First, let’s take a reality check
Till is keen to help you digitise your B2B payments based on solid commercial reasoning and the tectonic shifts caused by the pandemic.
Here is the state of play
Like others, you are potentially welded to the old way and currently accept payments by bank transfers, cheques, and bank debits, all of which work ‘just fine’.
But COVID-19 shifted things
In the space of just one year, it’s been reported that the share of B2B enterprises making over 90% of their payments digitally has increased by twelve percentage points.
Credit is becoming first choice
B2B enterprises who have adopted the instantaneous wonder of digital payments for their B2B eCommerce are predominantly using card-based payments.
Did you know?
There is virtually no ceiling on what your buyer can put on credit in a pre-approved facility, making the move to digitised payments that much easier. Which means, with Till, you can use credit for big ticket items too.
What makes the old way so slow?
Incorrect data entry
Bank transfers can expose you to mistakes, fraud and security issues whereas digitised payments via Till will solve that problem.
Unconnected payments and POS systems drag down your approval process time, but with Till there’s easy integrations and no downtime.
Sending manual invoices and then cross-checking on paper is doubly time-consuming for both buyer and supplier. Till automates processes that save time and money. Source
Surveyed suppliers who changed to accepting credit
cited faster payments that improved cashflow
spent less effort chasing payments
improved their reconciliation process
Become a Preferred Supplier
Your B2B buyers will welcome electronic payments too, because the reasons are compelling: Procurement is easier. Digital invoicing is cheaper. Admin time is slashed. Visibility and control of spending is vastly improved. And the overall procurement process is streamlined. This all adds up to lower costs and stronger relationships with you, the supplier.