back Back

Intuit QuickBooks Business Network expands to accelerate and automate B2B payments

By Edlyn Cardoza

January 18, 2023

  • B2B
  • B2B Payments
  • B2C
Share

Intuit, TurboTax, Credit Karma, QuickBooks, Mailchimp, Intuit QuickBooks Business Network, SMBs, B2B, B2B Payments, Cash Flow, FinTech, B2C, USAIntuit, the global financial technology platform that makes TurboTax, Credit Karma, QuickBooks, and Mailchimp, expanded the availability of the Intuit QuickBooks Business Network to millions of small and mid-market businesses in the U.S., creating one of the largest business-to-business (B2B) networks aimed at accelerating and automating B2B payments and improving overall cash flow.

B2B payments remain one of the most significant unsolved challenges small and mid-market businesses face and that FinTech innovation is well-positioned to address. QuickBooks data shows that 52% of B2B small businesses are paid late, even more than business-to-consumer (B2C) businesses (32%), creating a cash flow challenge for small businesses that often rely on timely payments for critical business needs like paying employees, purchasing inventory or supplies, and growing their business.

“With the QuickBooks Business Network, we’re innovating to address age-old challenges small businesses face when it comes to B2B payments, 70% of which are still paper or check-based in the U.S.,” said Rania Succar, Senior Vice President of Intuit QuickBooks Money Platform, and CEO, Mailchimp. “Our fintech expertise and payment industry leadership enable us to bring new, powerful automation to small business B2B payments. By reducing manual work and accelerating the time it takes to get paid, we can help small business owners better predict and manage cash flow.”

Eligible QuickBooks Online customers in the U.S. can easily connect with one another in the network to accelerate B2B payments, leverage automation to simplify and streamline administrative tasks, and access enhanced collaboration and connection capabilities.

The QuickBooks Business Network is the latest FinTech innovation developed by Intuit that has the potential to deliver faster payments for businesses. Across payments, banking, and lending, QuickBooks is transforming the speed of money movement while providing advanced money management capabilities like cash flow forecasting to give small businesses greater control of their finances.

Previous Article

January 18, 2023

NTT DATA strengthens UK Banking Practice with four strategic hires

Read More
Next Article

January 19, 2023

HPS unveils new office in Singapore

Read More








IBSi Daily News Analysis

digital wallets

March 01, 2024

B2B

Banking Sector and regulatory framework: addressing India’s growing demand for secure lockers

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Hecto Financial eases cross-border transactions with new solution

Read More

Today

Marqeta & AffiniPay team to launch SMB credit card solution

Read More

Today

Viva.com activates Cartes Bancaires on Tap to Pay on iPhone in France

Read More

Related Reports

Sales League Table Report 2023
Know More
Global Digital Banking Vendor & Landscape Report Q4 2023
Know More
Wealth Management & Private Banking Systems Report Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q4 2023
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
close-link
Get your copy now! IBSi Sales League Table 2023