Pushing the Speed Limit: Increasing Operational Efficiencies with Digital Payments
Logistics is an industry that depends on speed, efficiency and accuracy for virtually every aspect of its business but one – payments.
Up and down supply chains, paper checks remain the dominant form of payment, requiring manual data entry that slows every stage of the process, particularly when it comes to towing and warehouse operations. A recent webinar from PYMNTS.com revealed that 64% of B2B payments are still handled by check, compared with the 67% of consumer payments that are made electronically.
Transitioning to digital payments would allow companies both large and small to streamline invoice and payment collection, enabling them to speed up operations and improve efficiencies across the supply chain. Here’s how.