The Strategic Value of Accounts Payable Automation
Recent technological advancements have spurred the development of solutions that address increasingly specific business-to-business (B2B) pain points. B2B payments, in particular, have begun to see the early benefits of this specialization in what Deloitte referred to as a “tectonic shift underway” in the landscape. With Goldman Sachs estimating the B2B payments market to reach $200 trillion by 2028, over 5x the volume of the retail payments market, we know the potential impact of technology on the facilitation of B2B payments is significant. But will everyone take advantage of it?
- Recent technological advancements have spurred the development of solutions that address increasingly specific B2B pain points.
- Leading organizations are turning to innovative technology, like AP automation software, to transform historically time-consuming, tactical processes.
- By 2028, the B2B payments market is predicted to reach $200 trillion