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Wednesday June 09, 12:08
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End-To-End E-Payment Solutions Give Best ROI
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Online payments solutions for B2B trade are available in several guises, but those that are handled 100 per cent online in a closing of the payments loop are most likely to be profitable, according to TradeCard. Automated financial supply chains should ideally enable buyers and suppliers to negotiate online and to use electronic documents for trade transactions, while supporting workflow and exception management. Businesses trading online can improve their efficiency by using the Internet instead of paper documents, before adding transaction processing with auto-reconciliation and financial services such as credit.
Corporate treasurers wanting a real-time return on investment from an e-payment system can boost profits by choosing an easily-installed system with low upfront costs, and by auditing the system each year to assess its efficiency. Web-based e-payments systems enable trading firms to leverage their existing technology investments, and are easier for smaller trading partners to link into. If the chosen payments solution offers predictable transaction dates, similarly, the price of trade credit drops for buyers and suppliers, while supply chain finance frees up credit lines and cuts out bank fees for trade finance.
Electronic payment systems offer many benefits, particularly if trading entities promote the system to their buyers and suppliers as a possible joint venture. If the e-payments solutions vendor quotes a fee for online transactions, based on transaction size, on a per-pay basis, the average firm can achieve potential cost savings of USD 500,000 to USD 900,000. Ultimately, the best e-payments systems automate the financial supply chain, while interfacing to a corporation’s existing technology, and supporting functions such as discrepancy management and auto-reconciliation as part of a wider payments decision process.
(GT News.com)
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