Today in B2B Payments: Digital Solutions Tackle Industry-Specific Problems
Today in B2B payments, suppliers of digital solutions aim to streamline manual processes and other hurdles, with solutions for the agriculture, trucking and chemical industries.
Digital Marketplaces Tackle 3,000 Years of Agribusiness Inertia
The agriculture industry has been tough to digitize, but that didn’t stop DiMuto CEO Gary Loh from launching his company in 2019 to solve the industry’s pain points. Today, DiMuto offers a B2B eCommerce marketplace that includes a trade management system, insurance and financial services. “We are very focused on the fruit and vegetable side,” Loh told PYMNTS. “We’re moving into livestock and seafood, but we’re really at the tip of the iceberg.”
Carriers and Shippers Ready for a Payments ‘Overhaul’
At a time when consumer payments are settled across platforms nearly instantaneously, payments frictions are still evident up and down supply chains. As part of the recent Freightwaves and PYMNTS event, “Supply Chain Meets FinTech,” representatives of TriumphPay, Transportation Intermediaries Association and Council of Supply Chain Management Professionals talked about the need to “overhaul the entire post-load segment of the supply chain.”
Pandemic, Supply Problems Fuel Chemical Marketplace Adoption
Logistics are an essential part of procuring chemicals, so ChemDirect’s online marketplace for specialty chemicals includes integrated logistics planning, credit terms and real-time inventory shipped directly from vetted suppliers. ChemDirect President David Haase told PYMNTS, “When you’re shopping for a chemical, we are considering the entire landed cost and the planning of the logistics portion of the procurement as you shop.”
Businesses Rethink Supplier Relationships as Global Disruptions Continue
One of the many lessons from the pandemic is that supplier diversity and resilience is essential in the face of black swan events. LianLian Global Executive Chairman David Messenger told PYMNTS’ Karen Webster, “I think it’s about becoming more diversified, more multipolar and looking at redundancy in your supply chains.”
BMO Integrates Business Accounts With Accounting Platform Xero
BMO Financial Group is teaming with cloud-based accounting firm Xero to give business customers more options for automatic banking to streamline their finance dealings. BMO Partners Head Hugh McKee said in a press release, “Our partnership enables automatic transaction syncing between BMO and Xero, which gives owners more time to focus on what matters to them — making progress and growing their business.”
Instacart Debuts ‘Big & Bulky’ Same-Day Delivery Service for Retailers
Instacart has launched a “Big & Bulky” program for its retail partners, offering same-day delivery on large items. With this program, retailers can deliver items like outdoor furniture, electronics and office supplies, and customers can order groceries and household goods alongside large orders. Retail partners include Big Lots, Container Store, Mastermind Toys, Office Depot, Staples and Spirit Halloween.
Retailers Deploy Inxeption Technology to Ease Supply Chain Complexities
Industrial commerce and supply chain digitization provider Inxeption has partnered with rug and bedding retailer Dahdoul Textiles to digitize the merchant’s supply chain and freight management processes. Inxeption Chief Commercial Officer Josh Allen said in a press release, “Inxeption is focused on removing the complexity from freight transportation by truly democratizing supply chain technology.”
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