Today in B2B payments, Vizient discusses hospitals’ procure-to-pay priorities and Biller discusses Buy Now Pay Later’s rise in B2B eCommerce. Plus, India’s IIFL Finance collaborates with FinBox, Plendify launches a B2B eCommerce app and Xeeva upgrades its procurement platform.
Pre-COVID, hospitals’ procurement goals largely focused on expense optimization. Today, it’s abundantly clear they must also balance the ability to ramp up inventory on-demand. Vizient’s David Gillan, senior vice president, emerging solutions and supplier engagement; and Bejan Shamsy, senior vice president, procure-to-pay solutions, discuss the effort to strike this balance.
Buy Now, Pay Later (BNPL) is a trendy concept quickly gaining popularity in B2B eCommerce. While some might argue BNPL is merely a shiny label on the legacy trade credit model, Biller CEO Derek Vreeburg explains that BNPL is taking a new approach to financing that emphasizes digitization and a better experience for both buyers and sellers.
Investment company IIFL Finance is teaming up with BNPL startup FinBox to help merchants by offering new digital credit products, IBS Intelligence and others reported on Friday (Aug. 13). “Partnering with FinBox enables us to access borrowers through its deep partner network with a single integration and offer our credit products digitally. We have collaborated deeply with FinBox’s low-code platform to make our lending process entirely digital and hassle-free,” said IIFL Chief Risk Officer Sanjeev Srivastava.
Ghana-based eCommerce startup Plendify has rolled out a B2B eCommerce app to help connect buyers with suppliers, Tech In Africa reported. Plendify allows users to access a business directory of African suppliers. Buyers can access direct quotes on the platform and are able to make bulk sales, according to the report.
Xeeva, a Michigan company providing a platform that uses technology and human expertise to connect consumers with suppliers, announced an upgrade to its Marketplace offering, according to a press release. “To accelerate the data-to-savings value journey for our clients, suppliers can now either self-register or be recommended to by our customers — so that they can quickly connect and collaborate to develop improved win-win relationships, adjust their interactions to the COVID economy impacts, and facilitate their individual digital transformations,” Xeeva Chief Product Officer Robert Anson said.