Contents tagged with Payment Industry News

  • eCommerce grows 13 percent in first quarter of 2013

    May 23, 2013
    The growth of eCommerce remained steady, if unspectacular, in the first quarter of 2013, according to a report from comScore. 

    Revenue made from online sales surpassed $50 billion for only the second time in history, but the sector as a whole grew only 13 percent over the fourth quarter of 2012. While that's a relatively impressive figure, it was somewhat lower than the growth found in Q3 and Q4 last year, by roughly 2 percent. The results also fell below average industry projections and the slight drop-off may indicate to some of the more pessimistic analysts that the market is slowing down.

    Optimistic analysis suggests growth is steady and should be considered as a positive sign for the future. There is truth to that, as one of the driving forces behind eCommerce today is … more

  • The Staples model: How increasing its online presence helped the retailer become a B2B powerhouse

    May 21, 2013
    Retailers interested in establishing themselves as B2B providers while increasing their online presence need to look not further than Staples to see how it is done. 

    The office superstore may have had humble beginnings, selling back to school supplies to families out of its brick-and-mortar locations, but the company is so much more than that today. Staples has become a powerhouse in B2B sales and it has its innovative thinkers who understood the power of online sales to thank for its success. 

    According to a report from an external contributor and featured in the online publication "Our vision is to establish Staples as the single-source product authority for millions of businesses,” said Ron Sargent, Staples' chairman and chief executive officer. “We are building … more

  • SAP users can integrate their hybris eCommerce platform with their ERP solution

    May 16, 2013
    As this blog has mentioned in the past, hybris is a leader in commerce platforms and is dubbed by many as the future of the industry. Today, hybris is taking its efforts one step further and can now be integrated with SAP's ERP and accounting solutions.

    This is essential because not only are companies able to provide their customers with an innovative shopping experience with the hybris solution, they are also able to integrate financial data with their other SAP applications, which will help ensure that their accounts are balanced and their sales are in synch with the rest of their operations. 

    Patrick Finn, VP of channels, Americas at hybris, spoke in a recent press release about the eCommerce challenges companies face and how this integration can go a long way toward alleviating … more

  • Bill.com sees increase in electronic payments

    May 16, 2013
    As this blog has mentioned in the past, Bill.com is helping change the way small businesses manage their AP and AR practices. With its innovative SaaS platform, the company encourages the use of electronic and online transactions. In fact, according to a new press release from the company, 40 percent of customer payments have transitioned from check to electronic.

    Bill.com's advantage is that it helps small businesses that traditionally lack the resources needed to integrate electronic payments with accounting software and digital documents.

    In the press release, Bill.com CEO René Lacerte explained that companies need to keep up with both consumers and large corporations who have already moved to adopt electronic payments.

    "Our incredible network growth marks the advent of the … more

  • Bill.com offers webinar to help those transitioning to paperless payment processing

    May 14, 2013
    The paperless revolution is affecting many areas of business, including payments. While they have traditionally been weighed down by numerous pieces of paper - invoices, checks and receipts, for example - the advent of digital technology has streamlined the process and provided new advantages for both vendors and their customers. 

    Bill.com is one of the organizations ushering in a new era of payment processing by offering innovative solutions that allow for quicker and more efficient transactions. The company's model is focused around taking any and all unnecessary components out of the sales process, which includes payments. In the era of big data, businesses can process and store all pertinent information regarding each transaction without having to resort to printing, which … more

  • Regulators continue to show support for the timely payments of small businesses

    April 23, 2013
    Major efforts have been made in recent years that would eliminate the risk of the government missing payments to small business vendors. There was once a time when government organizations were viewed as the "bullies on the block" treating the vendors and organizations they partnered with however they pleased. This was, in part, one of the factors that led to the financial crisis of five years ago.

    Instead of government departments taking three months, a year or even longer than that to finally getting around to making payments, vendors are receiving more respect from regulators, who are now telling public organizations they must pay their providers in a timely fashion as to not hurt their economic viability. 

    This initiative is being seen around the world. Just last week, the … more

  • VantageB2B partners with hybris software solutions

    April 05, 2013
    For over 15 years, hybris has been a leading commerce platform provider, allowing businesses to streamline their sales processes with innovative products and services. As this blog has stated in the past, today's increasingly digital society requires vendors to offer customers a quick, easy and efficient shopping experience. However, a quality shopping platform is only half of the equation, and vendors must also obtain solutions to process payments in a cost-effective manner. That's where VantageB2B comes into play.

    We are proud to announce we have partnered with hybris to offer customers a best-in-class online sales and payment processing system that will serve as the gold standard in B2B eCommerce solutions. We are excited to be joining an ambitious enterprise to assist … more

  • Mobile technology helps customers protect data, but vendors must do their part

    March 28, 2013
    As this blog has mentioned in the past, mobile payments have grown by leaps and bounds in recent years. For many people, the mobile phone has become their preferred tool for each transaction and merchants have made major strides to accommodate this fact. While most of the mobile payment industry has been centered around business to consumer transactions, it is slowly working its way into the B2B realm. Recently, Mark Miles an executive with the company Corporate Spending Innovations (CSI) spoke with the online publication PYMNTS.com about the future of mobile B2B payments. 

    Miles talked about his company's technology, which has become a major player in the mobile payment application game, partnering with providers such as Google and Apple. He believes that his solution will help … more

  • Why vendors must keep up with technological advancements

    March 22, 2013
    Adapting to technological advancements is crucial for companies to maintain economic viability in the 21st century. Today, systems are evolving at such a rapid rate, organizations that aren't able to change accordingly run the risk of looking dated and out of touch in the eyes of their customers.

    This is particularly true when it comes to payment technology. Legacy business software solutions and inventory management systems will likely hinder a company's productivity, but organizations can hide them in the back office. Customers won't see what sort of systems are being used to operate behind the scenes. That's not the case with payment solutions. If a company doesn't accept credit cards or doesn't contain an eCommerce option, customers are going to know about it. 

    An article in … more

  • Accounting software Xero now integrates with Bill.com

    March 22, 2013
    At the end of the day, a vendor's purpose is to serve its customers. That's why companies invest in technology to streamline transactions and improve the buying experience. However, while customers drive the business, vendors still must implement solutions to improve their own profitability.

    Xero customers have long trusted the accounting software provider to help them build efficiency into their buying and selling procedures. The technology allows vendors to better assist their customers by increasing the speed in which payments are processed. Now, Xero customers will be able to help themselves as well, as the software is integrating with Bill.com, a cloud-based software-as-a-service model for accounts payable and receivable.

    By integrating with this software, payment processing … more