Alibaba.com, the leading global B2B e-commerce platform, has announced a remarkable 27% year-on-year increase in orders from US small and medium-sized enterprises (SMEs) during its flagship event, the March Expo. This virtual, month-long sourcing event connects buyers to millions of suppliers worldwide, helping them discover new products and create lasting partnerships. Digital Sourcing Drives Success The significant growth in US orders was largely fueled by the increasing adoption of digital sourcing. With the help of advanced technology and artificial intelligence (AI), US SMEs are making the most of direct sourcing opportunities. The shift from traditional intermediary sourcing to direct purchasing…
Author: rahul sale
Extend, a leading virtual card and spend management platform, has partnered with Visa to offer middle-market businesses enhanced financial control, security, and efficiency in their B2B payments. This collaboration aims to streamline expense management and combat fraud while integrating seamlessly with existing banking relationships. Addressing the Growing Demand for Smarter Payments Middle-market businesses are actively seeking flexible payment solutions that offer greater control over expenses without disrupting their financial operations. Virtual cards have emerged as the go-to solution, with global spending projected to skyrocket to nearly $14 trillion by 2028, up from $3.1 trillion in 2023. Extend’s platform enables businesses…
Visa has disclosed its strategic partnership with four of Australia’s leading banks, ANZ, NAB, HSBC, and Westpac, to streamline business-to-business (B2B) payments. The collaboration aims to modernize payment processes by launching Visa B2B Integrated Payments (VBIP) in Australia. Simplifying Payments with Automation VBIP, embedded into the SAP Business Technology Platform, enables businesses to automate payment processes, reducing the need for manual reconciliation. This innovation enhances operational efficiency, giving finance and admin teams more time to focus on strategic growth. “This solution allows businesses to route payments seamlessly, even to suppliers that don’t accept card payments,” Visa stated in a press…
Hey there! Today, we’re going to talk about something really important for businesses: financial forecasting. Don’t worry if that sounds complicated – we’ll break it down so it’s super easy to understand! What is Financial Forecasting? Imagine you’re planning a big lemonade stand. Before you start, you’d probably try to guess how many cups you might sell and how much money you could make. That’s kind of like financial forecasting, but for bigger businesses! Financial forecasting is when a company tries to predict how much money it will make and spend in the future. It’s like having a crystal ball…