In today’s economic climate characterized by high interest rates, inflation, and other factors that can reduce a company’s profitability, business leaders who devise ways to incentivize—and deliver— profitable business outcomes will stand out from their peers.
One compelling opportunity to drive profitable outcomes is in the payments function. Some companies pay almost 2% of their revenue in collections due to costs from credit cards, checks, and even some ACH transactions. The opportunity to claw back 2% of revenue is a great option for those leaders who can use an incentive-oriented approach to drive profitable payment behaviors.
In this analysis of profitable B2B payment strategies, Cloud Wars analysts will break down:
- How B2B fees in the payments function—particularly surcharges—can impact business results
- Strategies—including use of payment networks—to eliminate per-transaction fees while toeing the line on costs
- Ways to evaluate and select payment methods that don’t incur transaction-based costs
- How companies are putting advanced payment networks into practice
