Overcoming AP Process and Digital B2B Payments Challenges: Insights from Finance Leaders

As periods of economic volatility and geopolitical uncertainty reshape global trade, finance leaders face a growing challenge: an inability to optimize accounts payable (AP) and digital B2B payments systems to improve efficiency, reduce costs, and mitigate risk. According to a recent PrimeRevenue customer survey, finance professionals are navigating a complex landscape where  process inefficiencies and platform inflexibility are impeding the organization’s ability execute on core business initiatives – things like transformation, innovation, and supply chain resiliency.

With over  70% of respondents prioritizing cost reduction for B2B payment processing, and  66% expressing concerns over fraud and security in digital payments, it is clear that outdated AP processes and payment inefficiencies are creating significant roadblocks. Patience is growing thin as finance leaders recognize innovation strides in virtually every aspect of their organization – except their own.

The Hidden Inefficiencies in AP and Payment Systems

Our survey, as documented in the PrimeRevenue CFO Trend Report, reveals widespread dissatisfaction with existing AP processes and payment platforms. Some of the most pressing pain points include:

• Inefficient Payment Systems:  Only  29% of respondents rate their payment systems as highly efficient. This means most organizations struggle with slow, manual processes, leading to delayed payments, reconciliation issues, and increased operational costs.
• AP Process Frustrations:  A mere  32% of finance professionals express satisfaction with their AP processes, underscoring the need for streamlined, automated workflows.
• Rising Payment Processing Costs:  With interest rates climbing and global trade volatility increasing, more than 70% of finance leaders cite cost reduction in payment processing as a critical priority. Compounded by high interest rates and global trade volatility, this adds intolerable financial strain.
• Limited Supplier Adoption of Digital B2B Payments:  While digital payments are growing, supplier adoption remains a challenge, with digital payment acceptance rates decreasing by 50% in some cases. This creates friction in supplier relationships and increases reliance on costly, outdated payment methods.
• Fraud and Security Risks:  66% of finance leaders worry about fraud in digital payments, particularly in an era where cyber threats and financial fraud continue to escalate.

These inefficiencies don’t just impact finance teams. They affect the entire organization’s ability to optimize working capital, manage supplier relationships, and drive operational agility.

The Importance of Addressing These Challenges

Finance leaders are no longer just stewards of liquidity; they are architects of transformation in their organizations. The findings of our survey underscore the need for businesses to embrace  flexibility, automation, and smarter payment strategies  to stay competitive.

Liquidity Management is Key to Resilience

With economic uncertainty, businesses need agile financial strategies that allow them to preserve cash flow while keeping supplier relationships strong. Tools like Supply Chain Finance (SCF) help organizations  extend payment terms without harming suppliers, improving liquidity and financial stability.

Automation Drives Efficiency and Cost Reduction

The value of digital B2B payment systems cannot be overestimated. Organizations that automate AP and B2B payment processes see significant benefits, including:

• Faster invoice approvals and reduced processing times.
• Fewer manual errors and reconciliation issues.
• Improved supplier payment scheduling and onboarding.

By integrating  AI-powered automation, companies can reduce costs and reallocate finance team resources to high-value initiatives.

Security and Fraud Prevention Are Non-Negotiable

One downside of digital B2B payment adoption is the potentially higher cyber fraud risk. AI-driven fraud detection and real-time risk monitoring are becoming essential tools for finance teams to mitigate fraud, ensuring secure and seamless transactions.

Transforming AP with Digital B2B Payments is the Future

Forward-thinking finance leaders are already taking steps to  modernize their AP and digital payment strategies. Key areas of investment include:

• Early payment solutions  to improve supplier relationships and financial flexibility.
• Real-time payment tracking  for better cash flow visibility.
• Seamless integration with ERP systems  to eliminate inefficiencies.
• AI-driven fraud detection tools  for stronger security.

The findings from PrimeRevenue’s survey confirm that finance leaders can no longer afford to ignore AP and payment inefficiencies. Addressing these challenges isn’t just about cutting costs. It’s about unlocking liquidity, improving operational agility, and ensuring financial resilience in an unpredictable market.

By embracing automation, security enhancements, and smarter financial tools, organizations can turn payment inefficiencies into a competitive advantage. Now is the time to act.