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This Week’s B2B Innovation: AI Procurement, Digital Payments and Ongoing Pressures
- The B2B space is undergoing a radical transformation to smoothen legacy inefficiencies and become more efficient.
- Artificial intelligence (AI) is reshaping procurement practices, automation streamlines payment systems, and geopolitical factors affect small business sentiment in the B2B sector.
- A new B2B economy is emerging, driven by the infusion of AI into spend management, digital B2B payment acceleration, and global economic pressures on small businesses.
- AI is playing a prominent role in spend management as platforms like Procurify's 'Spend Insights' and Coupa's acquisition of Cirtuo increase efficiency and strategic decision-making.
- Accounts payable (AP) is evolving from a transactional role to a strategic financial insight hub, thanks to automation transforming processes and providing valuable insights.
- B2B payments are becoming smarter and faster, with innovations like FlexPoint automating complex transactions and partnerships like Cleo and Paystand streamlining B2B transactions.
- Efforts are focused on eliminating friction, enhancing security, and improving cash flow visibility across the B2B payments ecosystem.
- Small businesses are grappling with economic turbulence, with factors like rising tariffs, inflation, and geopolitical tensions impacting their operations and decision-making.
- Integrated B2B payment systems and digital tools offer some relief, but small businesses still face challenges in mitigating the broader economic headwinds.
- The evolving B2B economy in 2025 emphasizes the importance of embracing technology, adapting to uncertainty, and building resilient networks of value for success.
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