The advantages of digitizing payment relationships between buyers and suppliers seem obvious. Lower paper and postage costs, faster speed, and increased security are just a few of the clear benefits. Yet, research – and experience – show a different reality from what we’d expect with respect to how buyers interact and transact with their suppliers in 2019. 

AFP’s 2019 Electronic Payments study found that while over 60% of organizations believe faster payments will have a positive impact on their organizations, 97% of financial professionals continue to use checks to pay their business suppliers.

Meanwhile, data from NACHA indicates that 32% of B2B payments today are ACH and are set to increase to 45% by 2020. While this shows progress, with practically every facet of business today fully digitized, one has to wonder why it’s taking so long for B2B payments to follow suit.

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