Spotlight

Accounts Payable and Receivable Automation

How to Meet Small-Business Demand

Report by Grace Broadbent  | Mar 17, 2022
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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
Insider Intelligence Interviews
Read Next
Sources
Media Gallery
About This Report
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.
Topics
Payments
Small Business (SMB) Banking
United States
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
Insider Intelligence Interviews
Read Next
Sources
Media Gallery

Executive Summary

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?

Barriers to Accounts Payable Automation Adoption According to US Accounts Payable Professionals, June 2021 (% of respondents)
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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

    1. Executive Summary
    2. SMB AP/AR Automation Nears Inflection Point as Interest Turns to Action
    3. What’s Shaping SMB Demand for AP/AR Automation?
    1. How to Shape Automated AP/AR Offerings to Meet SMB Needs
    2. Insider Intelligence Interviews
    3. Read Next
    1. Sources
    2. Media Gallery

    Charts in This Report

    Barriers to Accounts Payable Automation Adoption According to US Accounts Payable Professionals, June 2021 (% of respondents)Financial Operations Technologies Most in Need of Updating at SMBs According to US SMB Decision-Makers, Oct 2021 (% of respondents)
    US B2B Payment Transaction Value, by Transaction Method, 2018-2022 (trillions)

    Interviewed for This Report

    Brad Brodigan
    JPMorgan Chase & Co.
    Managing Director, Global Head of SMB
    Interviewed March 4, 2022
    Linda Cascardo
    Wells Fargo
    Executive Vice President, Treasury Management Sales
    Interviewed March 1, 2022
    Scott Ellison
    Stampli
    Director, Competitive and Market Intelligence
    Interviewed February 28, 2022
    Rick Fletcher
    Corpay
    Group President, Corpay Payables
    Interviewed February 28, 2022
    Greg Miles
    Regions Bank
    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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    authors

    Grace Broadbent

    Contributors

    Daniel Decea
    Researcher, Financial Services
    David Morris
    Principal Analyst
    Jaime Toplin
    Senior Analyst