Challenge 3: How might start-ups improve how businesses manage their operating processes for both domestic and international business trade / payment flows?
Business owners are increasingly recognizing the importance of the role of local and cross-regional trade flows and associated supply chain operating processes to manage, plan, control and reconcile trade / payment flows.
Today, business supply chain, logistics, payment operating processes are done manually starting from the negotiation process between buyer and supplier, commercial agreement, send/receive POs, invoicing, shipping documents, delivery of goods/services, and the payment process itself. Some of the payment challenges in the B2B ecosystems include a lengthy collection-to-payment period that often causes companies to source external financing, lack of cash flow visibility and low adoption of automation for payables and receivables.
To simplify and digitize end-to-end B2B processes for optimal trade / payment flows