UX in B2B Payments Roundup (October 21, 2024)
Editor's Note:
Welcome to a roundup of UX in B2B payments news and insights. In this edition, we're exploring how finance teams can prioritize AP automation, the growth in overdue B2B payments, how to maintain a consistent UX across disparate channels and more!
If you think someone in your network might also enjoy it, please SHARE.
Happy reading,
-Joseph
Top Story: How to prioritize Account Payable (AP) automation for optimal B2B payment UX
AP processes involve a lot of manual work and constantly need to juggle efficiency, accuracy, and compliance. Automation can solve many of these challenges—but not all tasks are equal candidates for automation.
In this article, we’ll walk through how to prioritize tasks for automation and how mapping your workflows can reveal exactly where automation will deliver the best results
Read the full story here.
B2B Payments Pulse: This Week’s Top News
- ⚡ Instant B2B Payment Solutions Find Traction in Emerging Markets: More businesses in emerging economies are going digital with their purchases, leading to a push for modernized payment processes. Read more
- ⏱️ Overdue B2B Payments Increase: The latest Business Risk Index (BRI) from CreditorWatch revealed that overdue B2B payments have hit their highest level since March 2021, as businesses grapple with challenging economic conditions. Read more
- 📈 U.S. Bank Simplifies SMB Banking Payments: U.S. Bank is working to simplify SMB banking and payments by bringing its tools together to better serve small and mid-size business clients. Read more
💡B2B UX Tip of the Week: Maintain Consistency in Design Elements
Ensure consistency in design elements across your platform to provide a seamless user experience. Consistent design helps users navigate your platform more easily and reduces confusion.
Consistency in design can streamline the payment process and build trust with clients. For example, using consistent icons, color schemes, and terminology across all payment-related pages can help users quickly understand how to complete transactions.
This reduces the likelihood of errors and increases the speed at which users can complete payments, improving overall efficiency and user satisfaction.
Read more about standardization in B2B payment UX here.
Get expert UX help to create consistency in your payment processes here.
📈 UX Stat of the Week: 67% of B2B buyers use multiple channels when making purchases.
Tailor the user experience based on their preferences and past interactions. For example, if a user frequently reorders certain items, highlight these items on their dashboard.
Provide relevant recommendations based on the user’s current context and past behavior. For instance, if a user is browsing on a mobile device, suggest quick actions like reordering or making payments.
Read more here.
🎧 What We're Listening To
Poor user experience (UX) can disrupt entire supply chains, cause legal headaches, and throw a company's cash flow into disarray.
Enjoy this deep dive into how bad B2B UX can be a "death by a thousand cuts" for payment solutions providers. More importantly, learn actionable strategies to improve your B2B UX now. Listen here.
Thank you for reading the UX in B2B Payments Newsletter!
That’s all for this week! If you enjoyed this edition, please LIKE, SHARE, and COMMENT.
Until next time,
-Joseph
About WDIR:
WDIR is the leading UX agency in B2B payments. Unlike traditional generalist agencies, we're a nimble, lean, and embedded partner for our clients. We focus on B2B payments and help our clients use UX for long-term revenue growth.
Learn more about our services here.
