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The Manufacturers’ Guide to Streamlining A/P and A/R

Published by TreviPay

After two consecutive years of decline, the Manufacturing sector in Europe rebounded with 8% growth in 2021, according to Eurostat data. Although the industry is enjoying a gradual recovery from the effects of COVID, it is emerging into a challenging competitive scenario.

Purchasing habits changed dramatically during lockdown and there was a surge towards eCommerce. As a result, today’s B2B buyers are even more aware of the huge gap between the payment choices they are offered as consumers versus the restrictions and friction they experience in their B2B roles.

The cost-of-living crisis is driving up material costs while supply chains are being disrupted. At the same time, the industry is moving toward a direct-to-customer sales model, transforming buyer-seller relationships and accelerating the need to grow and scale efficiently.

That’s a lot to grapple with. Fortunately, manufacturers who are willing to embrace technology and innovate their back-end processes can respond to these challenges and even create competitive advantage.

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Related Categories CRM, Manufacturing, Revenue, Environment, Enterprise Resource Planning (ERP)