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Furthermore, only 42 percent have accounts payable (AP) or ERP software that is able to automate B2B payments, and even fewer have digital portals in operation through which suppliers can submit their invoices. Only 13 percent said they’re using virtual cards. Only 13 percent said they’re using virtual cards.
"Business expenses are estimated to have dropped by more than 50 percent in the initial phase of the pandemic," he recently told PYMNTS, "but we are seeing a noticeable pickup in spending volumes as businesses adapt to the 'new normal' and business entertainment returns in smaller group formats.".
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