While personal payment solutions like Venmo, Cash, and others dominate how we transact with each other, B2B high tech companies face larger challenges with global channel partners. According to Juniper Research, “The transaction value of B2B cross-border payments of all payment types will exceed $47T in 2026, from $34T in 2021.”
For high tech and semiconductor companies, the challenges include:
- Finance has a complete understanding of who needs to be paid, how and when
- Payment funding and approvals that are spread across teams with finances housed in ERP
- Lack of transparency and speed when paying partners
- Reliance on spreadsheets or ill-equipped in-house solutions
- Slow payments due to disconnected payment processes
To streamline and improve channel partner experience, an intelligent solution integrated with channel incentives is key. With an integrated solution, channel and finance teams can seamlessly manage partners from the initial program design to measurement and payment. Without an automated and integrated solution, the challenges continue to impact partner relationships, retention, and performance.
Introducing N Payment Management
Model N Payment Management is a payment processing solution that makes global payments easy, efficient, and transparent for high tech finance teams and improves partner relationships and retention. Payment Management is a component of our channel incentive management ecosystem and is integrated with Model N Rebate and MDF Management solutions.
To learn more about Payment Management and how it can eliminate your partner’s payment challenges, go here.
