Now is the time for the B2B customer experience to run as smooth as its B2C counterpart.
Forrester’s Buyers’ Journey, 2023, reports 71% of B2B buyers are Millennials and members of Generation Z (born in 1980). Owning or running a B2B company means dealing with buyers who are never without a cellphone and are accustomed to seamless, one-touch transactions when shopping on Amazon or scheduling an Uber. That is why market research agency Kadence International listed a digital-first customer experience as one of the top four trends expected to disrupt the B2B industry in 2025.
A new generation of buyers brings with them new demands and expectations. They have no patience for slow, convoluted payment processes. They want speed. They want efficiency.
They want a B2C experience during a B2B transaction.
This blog explains how AR (accounts receivable) automation helps you provide a digital-first B2B customer experience in 2025.
If you think AR automation does nothing but send invoices out to customers, you’re mistaken. You’re also severely underestimating how it caters to today’s buyers. Because while youngsters love their phones, they hate talking on them: Zipwhip reports 74% of Millennials and members of Gen Z prefer using text for business purposes, including making purchases.
Isn’t it ironic?
Today’s buyers want fast answers and don’t want to spend time on hold. AR automation meets these needs with real-time chat capabilities and robust email features where you can send attachments like downloadable invoices, pictures, and purchase orders.
The right AR automation platform enables your customers to access self-service portals where they can access payment and invoice histories, and set up, manage, and store their preferred methods of payment in digital wallets. This creates a seamless and efficient payment process while providing a personalized buying experience the new generation craves. And by offering flexible, digital payment options through ACH (Automated Clearing House) and credit cards, along with payment links that can be embedded in invoice emails, AR automation makes the B2B buying process as simple and hassle-free as a B2C transaction.
Imagine paying a large B2B invoice by just clicking a button. This is what your buyers want.
AR automation helps you provide it.
B2B companies that aren’t making ESG (Enviornmental, Social, & Governance) a priority need to do so immediately. A 2024 survey conducted by Bain & Company of 500 B2B buyers found 36% would leave suppliers who fail to meet their sustainability requirements.
This is no longer a luxury. It’s a necessity.
Using AR automation strongly demonstrates how seriously your B2B company takes sustainability. The right platform uses a single, digital platform for smart invoicing, payment processing, and invoice reconciliation, eliminating the need for you and your customers to fill wastebaskets with paper invoices, envelopes, receipts, and ink cartridges while saving the energy it takes to run printers and make copies.
Heck, you won’t even have a need for rubber bands or paper clips.
Payments are made digitally and don’t require paper checks. Not only is this a boon for the environment, but wiping out check usage and acceptance helps your clients avoid catastrophe – check fraud was expected to account for $24 billion in losses in 2024.
The only AR automation platform purpose-built for small-to-medium sized B2B companies in the U.S., Bill360 has everything young buyers want in a transaction.
We make the payment process as simple as a B2C transaction through embedded Pay Now links and by empowering your customers to set up self-service portals where they can chat, send and receive emails, and manage their payment wallets while enabling you to ditch paper and grow into a more sustainable company.
We also provide 18 months of history between you and your buyers. That way, you can spot purchasing trends and offer customers a personalized buying experience that meets their specific needs.
Contact Bill360 today and deliver a B2B customer experience that sets you up for a successful 2025.