Small and medium-sized businesses are looking to close the automation gap when it comes to accounts payable and receivable. To capture the growing market, banks and software providers must tailor solutions to current SMB needs.
Small and medium-sized businesses (SMBs) are finally taking action to automate their accounts payable (AP) and accounts receivable (AR) processes. To win market share in this previously untapped segment, banks and software providers must meet SMBs where they are.
Key Question:As SMB demand for AP/AR automation grows, how can banks and software providers align their offerings with SMBs’ current needs?
KEY STAT: The belief that current processes work is the most cited barrier to automation among US AP professionals, per a June 2021 survey from MineralTree. This inertia is still preventing some SMBs from automating.
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Table of Contents
Executive Summary
SMB AP/AR Automation Nears Inflection Point as Interest Turns to Action
What’s Shaping SMB Demand for AP/AR Automation?
How to Shape Automated AP/AR Offerings to Meet SMB Needs
Senior Vice President and Manager of Treasury Management Products and Services
Interviewed March 3, 2022
Vijay Ramnathan
MineralTree
President
Interviewed February 18, 2022
Jed Rice
Aliaswire
CEO
Interviewed February 18, 2022
Ron Shultz
Mastercard
Executive Vice President, New Payment Flows and Global Bill Pay Product Development
Interviewed February 17, 2022
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