Significant attention has been paid by the corporate FinTech arena to tackling frictions in B2B payments, including when those transactions occur across borders. But many of these solutions tend to focus on the movement of funds from one company to another — say, a supplier.
Less often recognized is the exceedingly high value and volume of intercompany payments, transactions that occur between subsidiaries or units of the same umbrella corporation. For a large firm, especially a multinational corporation (MNC), to manage those payments and obtain a clear picture of financials across the organization can be difficult. What’s more, as FourQ CEO and Co-Founder Varun Tejpal and Vice President of Transformation May Ma told PYMNTS, those B2B payments can also complicate the picture of financials from one operation to the next under the same MNC.
Read full article at pymnts.com