Machine Learning: The Missing Link in Bringing B2B Payments Up to Speed

The good news is that the issue of B2B late payments is entirely remediable. While organisations such as Mastercard and Visa are beginning to address the problem and infrastructure like Faster Payments are steps in the right direction, these solutions are focussed on accelerating the speed at which payment transactions are made. However, while solutions such as these are undoubtedly a welcome step in the battle against late payments, to truly overcome the issue a holistic solution that streamlines all elements of the payments process is needed. Tackling invoice approval in the long chain of steps in the B2B payments process is essential to unlocking instantaneous payment, akin to those that are the norm in the B2C world.