Outdated payment methods and manual processes in your B2B operations can slow down your growth. In this eCom Ops Podcast episode, Norbert talks with Sudipta Jash, a B2B FinTech expert at Global PayX, who aims to modernize payments and make them as efficient as eCommerce transactions. Discover why B2B payments have lagged behind consumer payments and how innovative solutions bring B2B transactions into the digital era.
About
Sudipta Jash began his career at BEA Systems India, selling enterprise infrastructure and middleware software, which later became part of Oracle through an $8.5 billion acquisition. He went on to work as a Management Consultant and Project Manager at MphasiS, consulting for global giants like JP Morgan, Citigroup, and AIG across the US and Europe. Since 2011, Sudipta has focused on FinTech and digital payments, particularly in emerging markets like India. Currently, he heads International Business at PayU Payments India, where he delivers products to international merchants and forms key partnerships in India’s payments ecosystem.
Global PayX is a SaaS company focused on modernizing B2B payments, providing an AI-powered cloud platform for optimizing working capital in accounts receivable (AR) and accounts payable (AP). The platform offers automation, reconciliation, analytics, and financing solutions that empower businesses to achieve key working capital KPIs, improve sales force effectiveness, and streamline vendor relations. Backed by JP Morgan, Global PayX partners with leading global and regional banks and serves clients worldwide, including Fortune 500 companies.
The Key Takeaways
Transforming the CFO’s Office
- Sudipta emphasizes the role of automation in the CFO’s office, explaining how inefficient cash flow processes cost companies up to 4% of their revenues. By automating accounts receivable (AR) and accounts payable (AP), companies can reclaim millions in revenue.
The Power of AI in B2B Payments
- “Everybody talks about AI,” says Sudipta, as he describes how AI and machine learning can be used to automate invoice reconciliation and reduce errors. He shares real-life examples of how Global PayX has helped companies minimize manual entry and increase efficiency.
Three-Way Matching for Fraud Prevention
- The concept of “three-way matching” between purchase orders, invoices, and goods received notes. This essential process ensures companies pay only for what they receive and helps prevent fraud, making AP operations safer.
Level 2 & 3 Credit Card Processing
- For companies using credit cards in B2B transactions, Sudipta explains how “level 2 and level 3 processing” can reduce transaction fees by up to 50%. He highlights the potential savings for mid-sized businesses when optimizing their payment systems.
Personalized Automation: Is It Right for You?
- Sudipta advises companies to consider whether automation is truly necessary. For businesses handling more than 100 invoices or complex reconciliations, he recommends upgrading their ERP systems before implementing advanced automation tools like those provided by Global PayX.
Conclusion
B2B payment systems don’t need to be outdated or complex. As Sudipta explains, by embracing the latest FinTech solutions, businesses can streamline their payment processes, reduce errors, and save money. Whether your business is big or small, now is the time to rethink B2B payments.
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The No.1 eCom Operations hack
“You don’t email Amazon saying, “Hey, Amazon, I want to buy an iPhone.” You do everything online by clicking the button. Fintech wants to help businesses by doing B2B transactions like e-commerce transactions.”
