Supplier Integration a Focus for P2P Solutions in Second Half of 2018
Matt Clark featured in PYMNTS.com’s eBook “2018 Mid-Year Checkpoint”
Every year, when the calendar turns to June, PYMNTS.com turns to a group of executives in the payments space to reflect on what the industry has learned over the past six months and where it’s headed.
For this year’s eBook, 2018 Mid-Year Checkpoint, the B2B platform tapped into Corcentric President and COO Matt Clark’s knowledge of the P2P space. In his column, “Procure to Pay: The New P2P,” Clark discusses how more and more companies are adopting a holistic approach to the procure-to-pay process in an effort to create a seamless experience and avoid the conflict that often accompanies B2B transactions. He notes, “Procure-to-pay solutions have been called upon to implement processes that connect the dots between each player in the B2B transaction and balance the contradictory needs of suppliers, who want to be paid faster, and buyers, who want to hold on to capital longer, or be rewarded for paying their suppliers early.”
Clark points out that the first half of 2018 has seen a lack of balance in the buyer-supplier relationship, with not enough attention being placed on the supplier side. Looking at the second half of the year, he stresses the need to “discuss potential ways to optimize integral supplier processes.” Creating a level playing field between the two parties leads to cost efficiency, better data, and the opportunity to add value to the procurement process.
Read Clark’s full assessment of the P2P space and learn about other changes and trends in the payments industry by downloading the eBook here.