It’s an open secret that B2B processes tend to lag behind B2C. But when it comes to payments, the gap between the two is downright shocking. At home, consumers enjoy the ease of one-click checkouts and secure online payment portals. But at work, they’re often sent back in time—dealing with paper checks, lockboxes, and other relics of a bygone era.
This disconnect should be a wake-up call. The good news is it’s also a huge opportunity. Let’s take a look at four ways that digital payments infrastructure can transform the checkout experience from a pain point to a competitive advantage.
1. Fraud reduction
No matter how big you are, where you operate, or who your clientele is, fraud is an ever-present threat. J.P. Morgan notes that “71% of organizations report having been victims of payment fraud attacks.” And the problem is only expected to get worse, with estimated losses projected to reach a staggering $362 billion by 2028.
While no business is immune to fraud, those that rely on outdated systems are particularly vulnerable. Using PDFs for payment instructions, for example, makes you a prime target. These files can be easily intercepted and altered to redirect payments to unauthorized accounts.
Manual entry of banking details introduces even more unnecessary risks. Keying in account and routing numbers by hand increases the chance of errors, from simple typos to intentional manipulation by bad actors.
When you pass around bank account and routing numbers via email, you lose control over who sees that sensitive information.
Retain peace of mind over your transactions
Digital payment portals are a great way to bolster your defenses. They eliminate vulnerabilities like these by securely storing sensitive banking information within a centralized, protected environment. You no longer have to worry about information leaks from emailing or downloading sensitive PDFs—all necessary payment details are kept safe and sound within the portal.
Along with keeping your data under lock and key, these portals provide built-in protection against tampering. Consolidating payments within a single, trusted destination significantly reduces the risk of fraudulent manipulation. And, because they automate the entry of banking details for the recipient, the risk of copy-and-paste leaks is taken out of the equation.
2. Accelerated payment processing
Without steady cash flow, you won’t be in business very long. It’s that simple. So why are you still dealing with physical checks? They take forever to arrive via snail mail, might involve the hassle of dealing with lockboxes, and typically require manual processing. It’s all much more time-consuming and cumbersome than necessary. Plus, there’s always the risk of checks getting lost or damaged in transit.
Despite their obvious drawbacks, PYMTNS reports that a full “75% of organizations still use paper checks, despite their high costs and inefficiencies,” which contributed to “$273 billion in losses due to slow payments in 2023.”
Get paid faster
Digital payment portals are an easy way to reclaim your time and money. Because they enable quicker transactions over the internet, you no longer have to worry about mail-related delays and associated frustrations. Instead of waiting anxiously for checks to arrive, your funds hit your account almost immediately. Plus, you’re able to receive ACH transfers, which typically take just 3-5 days to process.
Along with receiving your cash sooner, digital payment portals can automate a number of traditionally manual steps in the payment process, including:
- Check scanning
- Bank processing
- Transaction verification
- Invoice matching
If you still rely on paper checks, it’s time to make a change. Your employees (and bank account) will be much better off.
3. Enhanced payment visibility
As if delays weren’t frustrating enough, traditional payment processes also tend to be maddeningly opaque. It’s hard to know when outstanding payments will arrive, or even if cash you’ve received has been applied to the correct invoices. This lack of transparency creates confusion for both your employees and your customers, and it can have a real impact on your bottom line. Versapay found that “More than 80% of C-suite executives at large companies say they have lost revenue due to miscommunication in the invoice-to-cash cycle.”
Clarity at every touchpoint
Digital payment portals bring much-needed transparency to the process. Customers are empowered to select the specific invoices they want to pay, eliminating any ambiguity around partial or full payments. Disputes are far less likely when everyone can see exactly what’s going on, boosting your customer satisfaction in turn. As Versapay also found, “65% of executives say that transparency and collaboration between accounts receivable teams and their customers would reduce invoice disputes.”
These portals also automatically capture rich remittance data, providing detailed payment information that simplifies the cash application process. Your team doesn’t have to waste their time sifting through paperwork, emails, or spreadsheets to match payments to invoices anymore—it’s all done automatically.
What about tracking payment statuses? Digital payment portals help here, too. They come equipped with advanced tracking capabilities that arm you with a comprehensive, real-time view of all your accounts receivable. You can easily see which partial payments still need to be resolved, any advance payments that have been submitted for upcoming invoices, and every outstanding balance in one place.
This enhanced visibility streamlines your internal processes, but more importantly, it has a direct impact on your bottom line by reducing days sales outstanding (DSO).
4. Superior customer experiences
We live in a world of instant gratification. Overnight deliveries with a single click, food appearing at your door with a few taps…in this context, slow, clunky B2B payments feel jarringly out of place. Business buyers want the same smooth, effortless experience they enjoy in their personal lives. Yet, according to Salesforce, 63% of them “say most customer experiences fall short of what they know is possible.” This disconnect is alarming, but also represents a real opportunity to set your business apart.
Effortless payments = happier customers
Digital payment portals can help bridge this gap by offering a familiar, B2C-like checkout experience. The best ones are intuitively designed so that it’s easy for customers to navigate payment options, select invoices, and complete transactions quickly and efficiently.
But it’s not just about a smooth checkout. These portals also consolidate all essential payment information in a single convenient location. Customers can easily access current invoices, payment history, upcoming bills, and any overdue invoices, giving them complete control.
And, perhaps most importantly, digital payment portals eliminate common friction points that tend to frustrate customers, including:
- Missing PDFs in emails
- Multiple document downloads
- Manual bank detail verification
- Payment destination uncertainty
Removing these obstacles gets you one step closer to the frictionless payment experience consumers have come to expect.
The digital advantage: Why it’s time to make the switch
Along with the benefits mentioned above, digital payment solutions can unlock:
Streamlined payment workflows
Most businesses underrate the value their AR teams can bring to the table. It’s a shame, because most are held back by tedious, manual tasks—check processing, invoice matching, and data entry—that eat up much of their workdays. Imagine what they could do with that extra time: building relationships with suppliers, improving cash flow management, and other value-adding tasks that actually move the needle.
Fewer payment errors
The occasional typo may not seem like a big deal, but these manual errors can add up quickly. PYMNTS found that “more than 80% of executives say they’ve lost business because of a payment process miscommunication” in 2024, with “more than half [saying] it’s happened on more than one occasion.”
Competing in modern markets is hard enough—these kinds of preventable mistakes just make it that much harder.
Enhanced security
Fraud is just one security risk that comes from manual payments. You also have to account for misdirected payments, data breaches due to poor storage of physical documents, and internal theft. The robust security measures that come with digital platforms mitigate these risks and protect your sensitive financial information.
Professional brand experience
In 2025, businesses that rely on manual payment processes feel significantly behind the times. Offering digital payment options demonstrates that you’re a forward-thinking, customer-centric organization.
Stop letting outdated payment processes hold you back. Let’s talk about what a digital payment strategy could look like for your business.