Maximize your business potential by
optimizing cash flows and working capital needs
The annual B2B spend in the Asia-Pacific region will surpass the US$75 trillion mark in 2024. Singapore’s B2B payments market is expected to grow at a CAGR of 5% growth in between 2021-2025. Yet, the B2B payment cycle is inefficient and heavily relies on manual processes, making it a prime candidate for technological advancements that can digitize the end-to-end process.
For example, 49% of the total B2B invoices in Singapore are overdue and 9% are written off as bad debt. Additionally, the days sales outstanding (DSO), which is the time interval between invoicing and getting payment from customers, has deteriorated for more than 50% of Singapore businesses during the past few years.
Modern finance leaders know that moving to commercial card payments isn’t just about accelerated payments, but instead part of a broader strategy of digitizing their overall Business payments. By doing so, businesses can generate savings, reduce manual processes, mitigate fraud, increase visibility and control, and strengthen business relationships.
In this event, you will learn how to :
- Evaluate efficiencies and cost-effectiveness at each stage of your payables process
- Determine the weak links representing the greatest risks
- Use automation to mitigate risks and lower the cost of managing payables