Boston, MA – December 31, 2013 - Gone are the days when corporate buyers dictated payment method to suppliers. What was once payers’ prerogative—determining how they paid their suppliers—is now becoming a joint decision between suppliers and buyers.
According to Mercator Advisory Group's newest report, e-Payment Program Success Relies on Supplier Enablement Strategy, merchants are loudly saying “no” when approached by their buyers to join a network and accept card or ACH for payment. Consequently, buyers are realizing that their automated payment programs are only as successful as their enablement of key merchants.
"To ensure the success of their payment automation programs, payers are increasingly engaging in creating a supplier enablement strategy and enlisting the support of industry experts to promote and facilitate conversion of suppliers to e-payment." comments Amy Hoke, Director of Mercator Advisory Group’s Commercial and Enterprise Payments Advisory Service. “Business has responded to this need by creating a new services sector completely focused on supplier enablement.”
The report is 22 pages long and contains 9 exhibits.
Members of Mercator Advisory Group's Commercial and Enterprise Payments Advisory Service have access to this report as well as the upcoming research for the year ahead, presentations, analyst access and other membership benefits.
Highlights of the report include:
- Merchant adoption of automated payments
- Barriers to adoption
- Supplier enablement targeting
- Elements of a successful supplier campaign
- Supplier enablement as a business